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GregGrit(Newbie)Newbie
29 July 2024

People have offered to help my disabled daughter cover the costs of her producing podcasts on disablity and other similar topics. She pays for the use of some software to produce her podcasts and a website etc. Does she need to start a business with an ABN and TFN considering that the income will be very small on an annual basis.

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146 views
1 replies

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Most helpful replyATO Certified Response

RachATO(Community Support)Community Support
ATO Certified Response29 July 2024

Hey @GregGrit,

 

Podcasts are such a great way to share info and experiences, how terrific for her!

 

It might be a good idea to work out if she'll be treating this as a business or a hobby. Income earned from hobbies doesn't need to be reported, but as a business she'd need a TFN so she can declare her earnings plus she may be able to claim deductions for the software and any other expenses she incurs herself to run the show.


As for the ABN, not everyone is entitled to having one, and it's not an obligation unless she meets the requirement to register for GST.

 

But for a nice little breakdown of info, have a read through our article on tax tips for social media influencers and content creators ๐Ÿ˜Š

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Most helpful replyATO Certified Response

RachATO(Community Support)Community Support
ATO Certified Response29 July 2024

Hey @GregGrit,

 

Podcasts are such a great way to share info and experiences, how terrific for her!

 

It might be a good idea to work out if she'll be treating this as a business or a hobby. Income earned from hobbies doesn't need to be reported, but as a business she'd need a TFN so she can declare her earnings plus she may be able to claim deductions for the software and any other expenses she incurs herself to run the show.


As for the ABN, not everyone is entitled to having one, and it's not an obligation unless she meets the requirement to register for GST.

 

But for a nice little breakdown of info, have a read through our article on tax tips for social media influencers and content creators ๐Ÿ˜Š

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Do I need a TFN and an ABN | ATO Community