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larazzlois1(Newbie)Newbie
19 July 2022

I am registered with my printing partner 'Printify' and sell through Etsy. The only thing is, I don't know what outstanding fees I will have to pay tax-wise and with GST etc. When do I have to start paying taxes in this business? Do I have to be earning a certain income first, or do I have to start paying taxes straight away due to the nature of the latter, and the fact that I am self-employed and have no staff?

And are there any other things I should be keeping in mind?

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1,578 views
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Most helpful replyATO Certified Response

EdenATO(Community Support)Community Support
ATO Certified Response21 July 2022

Hello there @larazzlois

 

You will not need to worry about GST unless your GST turnover is more than $75,000. If things go well (fingers crossed) and you do earn over the $75,000 you will need to apply for an ABN and for GST.

 

Because you're self-employed you will need to report your earnings in your income tax return.  The tax you'll need to pay on the income depends on how much you earn. You can use the individual income tax rates on our website to get an idea of how much you'd need to account for.

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Most helpful replyATO Certified Response

EdenATO(Community Support)Community Support
ATO Certified Response21 July 2022

Hello there @larazzlois

 

You will not need to worry about GST unless your GST turnover is more than $75,000. If things go well (fingers crossed) and you do earn over the $75,000 you will need to apply for an ABN and for GST.

 

Because you're self-employed you will need to report your earnings in your income tax return.  The tax you'll need to pay on the income depends on how much you earn. You can use the individual income tax rates on our website to get an idea of how much you'd need to account for.

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