Hello, I have been on Twitch and have signed the affiliate contract (provided TFN), receive a small amount of money monthly from that from subscriptions, ads, tips etc. However, when I researched if I need an ABN originally, I found mixed results - Some say yes, you require an ABN for affiliate, others no, if it is a hobby (and in my case, it is, I don't make that much money from it).
1) Do I require an ABN since I have an affiliate contract? Or is it only if I start making significant money and consider it more seriously, treat it as a job?
2) If I do make an ABN, is it just as a sole trader? (For Twitch affiliate)
3) Do I report income for tax? (Few thousand maybe to report from Twitch summary + more records for payouts and donations on Business paypal - I made a business one since it hides full name, unlike a personal paypal account)
4) Would this be considered foreign income (since it is from Twitch, based in the US)?
I'm a bit confused for this from all the research I have done and want to report accurately. Thanks in advance!
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