Author: ashushushu(Initiate)Initiate 24 Nov 2024
Hello
I started doing youtube as a hobby last year but since Im doing it again this year and will probably be classified as a a sole trader. I have a question....what do I actually need?
I know that I dont need to register for an ABN until I have a 75k turnover. And yes, I know the benefits of having one, I just chose not to have it
I know that I dont need a separate business bank account and can just use my normal personal account as a sole trader (i just need to show my bank statements to my tax agent every tax season), Not that I can make one without an ABN.
Do I need to register a business name as a sole trader if I name my youtube into something else other than my name? Like my name is Bob but my youtube name is abcgaming or something? Its still my name on the pay sheet that google sends me soooo no? Not that I can make one without an ABN
Sorry but for me, this is a “which came first, the chicken or the egg?“ kinda situation. If the ABN isnt required to begin with...then what else do I need? I obviously have my personal info and the pay sheet that google sends me every month assuming that I reach quota but....what else?
Ive also already read the “key tax obligations for sole traders“ and none of my questions are on it.
Just a little help for this probably overthinking dumdum would be appreciated. Thanks