Generally speaking, once you start to receive money for doing certain things, you need to consider whether you’re simply conducting a hobby which is generally beyond the reach of income tax (unless CGT is applicable) and GST, or whether you have a taxable business.
For GST purposes, registration for GST is generally based on having an ‘enterprise’, which is a lower threshold than running a business. This distinction needs to be kept in mind for, however this article focuses only on income tax.
This article has been posted in full on our national site. If you would like to read more on this article, please click here.
Thank you for your interest in reading our articles.
