call the ATO - they are actually pretty helpful usually.
if you are trying to do the right thing, and just want to understand, they will help you understand where you are, and at what point it would change from a hobby to a business.
its only if you have been intentionally not paying or defrauding the ATO that they get upset
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26-01-2013 20:13 #11
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27-01-2013 09:31 #12
If its a hobby you don't need an ABN. I think I read somewhere the other day that the limit you can earn is $5,000?
good idea and good luck with it
27-01-2013 10:09 #13
Re: Photography to make money??
You can earn money from a hobby without an ABN, but honestly you are better off getting one.
You do not need to register a business name, get an ABN as a sole trader - no annual fees for that, although they will cancel if there's no activity for a certain amount of time.
With an ABN you can deal with more wholesale suppliers, and things you purchase for business purposes may be claimed on your tax return.
Plus if you happen to want to enter some competitions or exhibitions, quoting your ABN decreases the amount of commission they'll take if you sell your work through them.
My hubby works for the ATO and he recommended calling their customer service line if you need more help - they can send you out some info packs and any appropriate forms if needed.
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By mim1 in forum General Parenting Tips, Advice & ChatReplies: 3Last Post: 06-11-2012, 09:53
By roz2288 in forum Photography ChatReplies: 4Last Post: 16-08-2012, 10:14
By GirlyWirly in forum Setting up & succeedingReplies: 5Last Post: 30-06-2012, 17:41
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