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sushi-pizza(Initiate)Initiate
25 Nov 2024

I would like to operate as a sole trader next year for my youtube channel that I've been doing as a hobby last year and I have a couple of questions:


1. if my channel name is different from my actual name (lets say my channel name is "imreadingbookz" and my actual name is "richard") do I need to register for a business name for "imreadingbookz" if all the formal documentations that I signed making my google adsense account and the google adsense invoice money that I receive is under the name "richard" anyway? I would imagine not but hey, I want to make sure..


2. so when I fill out my taxes and it asks me for the name of my company as a sole trader without an ABN (i dont need it) and without a registered business (assuming that I dont need it as per my first question), do I just put my full name on the "name of the company" section? 


3. what else am I required to have other than my personal info and invoices from google?

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AriATO(Community Support)Community Support
28 Nov 2024

Hi @sushi-pizza


A sole trader and a company are 2 different business structures.


Your channel name doesn't affect your taxes. If you're a sole trader, you as the individual is your legal name, but if you wanted to register a business name you can do this with ASIC. It's up to you.


When you fill out your Australian tax return, the type of return you complete for your business will depend on your business structure. If you're a sole trader you'll complete an individual tax return, if you're a company you'll complete a company tax return. You won't be asked for your company name in an individual tax return.


Check out record-keeping for businesses to check your requirements.



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Most helpful reply

AriATO(Community Support)Community Support
28 Nov 2024

Hi @sushi-pizza


A sole trader and a company are 2 different business structures.


Your channel name doesn't affect your taxes. If you're a sole trader, you as the individual is your legal name, but if you wanted to register a business name you can do this with ASIC. It's up to you.


When you fill out your Australian tax return, the type of return you complete for your business will depend on your business structure. If you're a sole trader you'll complete an individual tax return, if you're a company you'll complete a company tax return. You won't be asked for your company name in an individual tax return.


Check out record-keeping for businesses to check your requirements.



sushi-pizza(Initiate)Initiate
28 Nov 2024

Hello Ari and thank you for the response. Just to clarify further and Im sorry if this was repetitive


All the legal documents for my adsense account that was linked to the channel called "imreadingbookz" are completed using my full legal name


All the adsense revenue / invoice that I'm currently receiving from google that was linked to the channel "imreadingbookz" are completed in my full legal name


...but despite that, as a would be sole trader (when I complete my ABN using my legal name), I DONT need to (i can if I choose to) register the youtube channel name "imreadingbookz" through ASIC despite the fact that it wasnt my full legal name?


Me receiving the money on my adsense doesnt constitute me ("Richard") doing business as someone else ("imreadingbookz")? As long as it was my actual name in the adsense account and in those invoices...thats fine?


Am I getting this right?

Sorry for the question as I might be getting 2 or 3 things mixed up and just wanted to be sure

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