Hi Im new to this and am wondering about the whole tax situation. Im not surw wether I have to keep part of my payments for tax..anyone working from australia that has advise on this? I realise it might be more comfortable to discuss by email but you cant post email addresses on here, can you? And Im not surehow else to do it.
Thanks
paying tax on freelance work in australia
Moderators: Celeste Stewart, Ed
Re: paying tax on freelance work in australia
Is a sales tax as fare to those who barely make a living, as an income tax? With no sale tax those with high incomes and no income tax have it made. A $10 sales tax hurts low income people making say 6000 a year. But what is it to those making 50,000 or 100, 000 a year. So you think if every poor person 'puts their nose to the grind stone' they too can make that kind of money. Ha!
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Re: paying tax on freelance work in australia
Best advice I can give you is to see your tax agent on this one. It kind of depends on how much you earn from freelancing - if you only earn a couple of hundred dollars, as it is a part-time hobby you won't have to pay much tax at all. However, when you start earning a fulltime wage as a freelancer, you will definitely need to pay tax on your earnings. These days, you can set up a PAYG account with the tax office as a freelancer. You will need to keep your own records on earnings and taxes. If you set up as a small business, with an ABN, the tax system is different again. Talk to your tax agent to ensure you set up the taxes properly.
Hayley
Hayley