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  1. #1
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    Default Centrelink and small home business

    After some advice I'm wanting to start back up doing some spray tanning from home after previously working as a state manager and salon trainer for many years for the company that manufacturers the products so a great way to earn a little bit of money without it taking up much of my time as a busy mum!

    I'm a sahm and have been for 5 years so have earned no income in that time. Currently receive ftb a and b ( dh works) so in layman's terms what are my responsibilities for any income earned? Just seeing if its going to worth any headaches!

    Max I'd be earning per week is say $50 and some weeks $0 would just be extra cash here and there.... And pretty much friends / family so just pocket money really, how do I claim this with Centrelink when i have no idea of earnings other than will be say max $5,000 p.a and likely nowhere near that?

    I'm also making sure theres no need to lodge a tax return as obviously won't have any tax witheld and under tax free threshold of $18,000 or that an abn wont be required? How do I show proof of income for any of this?

    Sorry if confusing I'm out of the loop with this stuff a bit!

    Any sahms in a simiar position? Any advice....government websites are confusing!
    Last edited by SoThisIsLove; 30-12-2015 at 07:11.

  2. #2
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    Hi OP I also run a business from home and I log my income with Centerlink this can be done online. I log $5000 per year & this can be changed during the year if it changes, and if you don't earn that much over the year you get a refund at tax time. Hope that helps

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    First thing is to work out if you qualify as a business. Talk to the ATO for that. If you qualify as a business (which I doubt) then you will have to do quarterly BAS reports and this will go on your tax return and get given to Centrelink.

    Once you know if you are a business is suggest talking to Centrelink, most likely they will be happy if you just lodge a tax return at the end of the year. From that they will work out if you have to repay and FTB.

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    You only need to lodge BAS statements if you earn over $50K

  5. #5
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    Quote Originally Posted by Kimmmm View Post
    You only need to lodge BAS statements if you earn over $50K
    That's what I thought. Or if u register for GST, PAYG

  6. The Following User Says Thank You to SoThisIsLove For This Useful Post:

    Kimmmm  (31-12-2015)

  7. #6
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    Quote Originally Posted by Ccspack View Post
    Hi OP I also run a business from home and I log my income with Centerlink this can be done online. I log $5000 per year & this can be changed during the year if it changes, and if you don't earn that much over the year you get a refund at tax time. Hope that helps
    Just to confirm do u do a quarterly BAS statement? What do u do at tax time?

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    CA here.

    you only need to lodge a BAS if you're GST registered (or are employing and are registered for PAYGW). there is no requirement to register for GST/BAS reporting until your turnover (sales revenue) reaches $75k

    you should also review the ATO's guidance on business versus a hobby.

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    Quote Originally Posted by SoThisIsLove View Post
    Just to confirm do u do a quarterly BAS statement? What do u do at tax time?
    No I don't earn enough to do a bas I just add the income on my personal tax return

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    Quote Originally Posted by turquoisecoast View Post
    CA here.

    you only need to lodge a BAS if you're GST registered (or are employing and are registered for PAYGW). there is no requirement to register for GST/BAS reporting until your turnover (sales revenue) reaches $75k

    you should also review the ATO's guidance on business versus a hobby.
    Thank you.

    I did read it, its not overly clear but I came to the conclusion that as I have the intention of making money and not just doing it for pleasure etc then its a business according to the ato

    I wouldn't need to have an abn I'm I'm understanding correctly

  11. #10
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    Quote Originally Posted by Ccspack View Post
    No I don't earn enough to do a bas I just add the income on my personal tax return
    Thanks, sorry for all the Q's. What do u use to record ur income if u don't mind me asking? 😊


 

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