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Declaring Income made from Hobby/Modeling?

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Hi,

Beginning December 2018 I began doing occaisonal adult modeling work for several local studios, at each shoot I was given and signed a Statement by Supplier paper work that said I was not quoting the businesses a ABN as I was doing it as an hobby. When I asked about declaring money on my tax return I was told as long as I didn't exceed $10,000 in a year it was still fine to not declare it. I wanted to double check this as I couldn't find anything specifically backing up that amount on the ATO website. I made approximately around $6-7,000 up until the EOFY. I also tried online camming a handful of times and only made approximately $250 due to tips, would this ammount need to be declared or is it also considered to be under the same hobby umbrella?

 

Thanks

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Hi @tygerlily,

 

Welcome to our Community!

 

There is no limit in what you can receive if the activities you are undertaking are a hobby and not a business. However, if the activity you're doing has more characteristic of a business and not a hobby, you may be required to apply for an ABN. You can find helpful information to work out your activity is a business or a hobby on Business website.

 

When you're working as an employee, Australian residents are entitled to claim the tax-free threshold. This means the first $18,200 of their yearly income isn't taxed. So, if you were an employee and earned under the tax-free threshold and didn't have tax withheld from your income, you wouldn't have to lodge a return.

 

However, if you're in business you're required to report income from the first $1 you earn and claim your business related expenses.

 

If you're unsure whether you need to lodge an income tax return based on your situation, you can use our Do I need to lodge a tax return? tool to help  you work it out.

 

Hope this helps, JodieH.

 

 

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ATO Certified

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Hi @tygerlily,

 

Welcome to our Community!

 

There is no limit in what you can receive if the activities you are undertaking are a hobby and not a business. However, if the activity you're doing has more characteristic of a business and not a hobby, you may be required to apply for an ABN. You can find helpful information to work out your activity is a business or a hobby on Business website.

 

When you're working as an employee, Australian residents are entitled to claim the tax-free threshold. This means the first $18,200 of their yearly income isn't taxed. So, if you were an employee and earned under the tax-free threshold and didn't have tax withheld from your income, you wouldn't have to lodge a return.

 

However, if you're in business you're required to report income from the first $1 you earn and claim your business related expenses.

 

If you're unsure whether you need to lodge an income tax return based on your situation, you can use our Do I need to lodge a tax return? tool to help  you work it out.

 

Hope this helps, JodieH.