well i was wondering i live in auzzie and do you pay tax on money you earn from the net ?? and if ya start making 3K a month plus must you declare it ?? and what about money paid to Paypal moneybookers and so on is that also taxed ??? great if i could get some insight
well how do u record and justify it if for example some of it from warez sites and other assorted subjects like it. is it wise to justify it or what ?? or just the earnings from legit sites ?
Anything that goes through your AU bank account must be declared, as must any cash job that you give a receipt for (e.g creating a website for your school etc). You think the ATO knows what warez are? They can hardly use the computers we buy 'em
Of course, any money you make has to be declared and tax paid on it. In many countries you have to even declare that you're self-employed and file tax returns even before you're earning a profit.
Yes.. I keep track of everything by printing out Paypal receipts. If you don't pay taxes and they end up checking things like that, you'll be in really big trouble.
Big trouble I think it's not necessary to pay tax if you're getting below the taxable rate of income?
I donot know,since I still donot get any venue from it.I think perhaps it will be different in different coutry.
Yes that's correct, you still have to file a tax return, but then you pay 0 tax on it. I suggest you give the tax office a call, usually they're very helpful.
I have a question. All my earnings are coming to me through my bank and wouldnt that mean theyll keep track of my earnings and collect the tax themselves ? I thought that was the purpose of collecting our earnings through a bank !
No.. you're supposed to keep track of that yourself. From what I know, the only time they're going to check your bank account is if they suspect you're not paying taxes over your earnings. It's better to avoid situations like that.
I doubt they're any more vague than any other type of earnings. Generally if you pay income tax then you also have to pay on your online earnings. What country are you in anyway?
thanx all for your input it helps alot hmm maybe being a dealer might be a better idea hahaha no tax on that job