paying tax on freelance work in australia

[jfittler]

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

[kereniya]

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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[HayleyWriter]

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