Hello,
I am a new self-published author (through KDP and IngramSpark), I believe the royalties earn on these books do not require an ABN but are included in “Other Income”.
Currently the amount I am spending in editors and cover artists is way more than the royalties I’m earning.
The current book I am writing has presented an opportunity for me to start writing a blog (book is set on a cruise ship - blog would be about cruising/cruise ships etc). As a way to offset the costs of my writing I had thought to set up Ads on the blog and potentially affiliate marketing down the line. I am unsure if the blog will take off and if it will produce any cash flow.
Do I need an ABN for the blog? If I do, can I include the self published books under the same ABN?
Hiw does the reporting work for an ABN?
Thank you.