Tax Question

Hey guys,

I am just asking a quick tax question regarding the W-8BEN international form that needs to be submitted in order to receive payments from affiliate companies. Now, the problem is I am 14 now, turning 15 in July and have signed up to affiliate companies my own name.

Now when submitting tax forms, do I need to do it in my parents name and tell me affiliate manager I have done so. Or can I simply do it in my own name?

I live in Australia and am currently 14 years old as stated above.

Any help concerning this matter is appreciated.

Thanks

 

First question is, do you have a bank account under your own name? If you do, go to a rep (not a teller) and let them know of your enquiry. Since the cheques your affiliate managers will be sending will likely be under your name and deposited directly into your bank account, then your bank should be able to lead you in the right direction in that regard. If you don't have a bank account under your name and it's under your parents name, then put your parents' name. From there, they should be able to sort out the taxes on their own/with their accountant.

 

What if I was to receive the money via Paypal?

 

PayPal is just a router of funds really. At the end of the day the money from PayPal will have to be withdrawn and put into a bank account. That's where you'll need to take things from.

 

Alright, thanks again for the help!