Are non-affiliate referral bonus taxable?

_JPD1984

(Newbie)Newbie

8 July 2021

Hi,

I have got some referral bonuses from a FinTech website/App when new Users join using my referrals code. I posted my referral code in social media groups and can see few people used it and joined the APP.

I am not an affiliate for this company and I am not undertaking this as a business activity, just posting these referral codes on my leisure time. (Similar to new people joining using your DoorDash referral link but as it's a fintech company I got portfolio units equivalent to the dollars amount)

is these referral bonus subject to tax in Australia?

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_KaraBATO

(Community Support)Community Support

12 July 2021

Hello @ JPD1984,

It depends!

Generally the nature of assessable income is that it is regular and relied upon. Whether your referral bonuses are taxable may depend on how often you post your codes and receive income.

In your case it sounds like you may be posting your referral code as a hobby. Income earned from hobbies is not considered assessable income.

To help you determine if you are have a business income that is regular and relied on, or are receiving income from a hobby please see our Are you in business? page on our website.

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