Do You Pay Tax For Your Online Earnings?

tax and superannuation law has changed here in australia.
So when i do need to pay tax instead of paying 30%(the estimated tax bracket i expect next years earnings to fall into)..If i declare i am a working for myself and work out 30% of my earnings and place in a super account..only 30% of my earnings will be taxed at 15%,plus medicare levy of earnings at 1%..so my effective tax rate is 16%. plus I can put more in my super. it's a win win. Prior to this year that didn't apply.
So in a way i'm glad i didn't start working for myself until now.
(eg. $60,000pa income @30%=$18,000.
$60,000-18000=42000 to live on after tax.
$60k*1%=600$(medicare levy-compulsory.
$18000*15%=2700+600=$3,300 total tax to pay on $60,000 income as a sole trader.
$18,000-2700=$15,300 goes in superannuation)
hopefully I've interpreted the new rules correctly..otherwise i'm up the creek..

 

I don't pay

I saw somebody saying freelancing is not a business well i'm making few k's/month from freelancing soo is bether then mane site owners etc

i will pay taxes when my stupid governement will make a good law about this and i will be a freelancer by law

 

I had to pay a lot in 2006 but now found some way around it

 

i never paid tax in my life i am from the corrupted Thailand where you can pay everyone off with money

 

im not paying any taxes since im not reach that amount yet

 

In the US if you make more then $600 a year you should claim it on your taxes. You don't want the nasty IRS coming after you..

 

Please share!

I paid last year for the first time becuase I made over the min.

 

If I tell you I'll have to kill you

Well, most important find a good accountant and pay him well.

 

Well, you don't live in the United states.

 

i would like to repeat same sentence but edit thailand to india

 

Looks like majority of people from us/uk/australia pay tax for their online earning . i dont see any indian paying tax

 

yep india we have freedom of tax lol

this facility is not avalible any where JK

 

I hate paying taxes, but this is a must. Personally I have to pay 15% of my income every month. Pretty affordable actually...... lol

 

Luckily i dont make enough to pay any tax

 

The Russian tax code has way to many loopholes (Still...lol) for me to even bother paying tax..

 

Pay no taxes... still pay some % from cashing cheques

 

Certain merchants and businesses such as Clickbank submit a 1099 form (earnings report) to the IRS for their members who earn at least $600 per year. That's income that you can't hide from the taxman.

 

I do not pay tax since I do not make a decent income from the internet.

 

ok...so i just moved from U.K to U.S and i never paid any taxes when i was back in U.K..(having said that i didn't make that much)
but now Google is paying good...how would IRS find out about this???!!!!

 

hrmm if money just goes from your paypal account into your bank account in the UK can the taxman see what is going into your bank? Is there a threshold where you get flagged or osmething?