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Re: Do I need to lodge OnlyFans earnings on my tax return if I do it as a hobby?

Newbie

Views 309

Replies 5

I have a normal job where I've earned 48k for 20-21 tax and I started doing OF last year October as a hobby where I've earned a total of 11.5k. I don't do it as a business or anything but I applied for an ABN last night and got approved; for I recently saw that I needed an ABN for it (but OF didn't let me put my abn anyways for it's for GST stuff only where one earns 75k). When I wanted to lodge my tax it said I owed ATO 2k which is what I was supposed to get back so I didn't lodge it yet. Why do I owe ATO money? 

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Accepted Solutions

Most helpful response

ATO Community Support

Replies 2

Hi @Pd1

 

Your income from OnlyFans is business income. You'll need to report the business income on the third page of myTax (personalise return) by selecting:

  • You were a sole trader or had business income or losses, partnership or trust distributions (not from a managed fund)
  • Business/Sole trader income or loss
  • either personal services income or business income or loss.

You'll need to decide if your OnlyFans counts as personal services income. You can do this by looking at our personal services income tool which is in myTax.

 

You won't need to tell us about any tax withheld in this section. Smiley Happy

 

You can read about completing myTax 2021 Personal services income and myTax 2021 Net income or loss from business on our website.

5 REPLIES 5

ATO Community Support

Replies 4

Hi @Pd1,

 

The reason a bill would arise when lodging a tax return would be, because not enough tax was withheld from your income throughout the financial year.

 

As to why exactly you owe money we would not be able to tell you without having a look at your lodgement as a whole.

 

I can however confirm that when you start an OnlyFans account you must register for an ABN (GST registration is only required with the ABN if your GST turnover is above $75000 annually) and any income you earn through OnlyFans needs to be reported in your tax return under the business income section.

 

If your total income earned from OnlyFans and employment income combined is more then $18,200 then you will be liable to pay tax on both your employment income and your OnlyFans income.

 

If you have declared your OF income in your tax return this would more then likely be the reason you got a bill. If you haven't declared the income from OF then you will need to declare it and the amount showing that you owe will more then likely increase.

 

Newbie

Replies 3

How do I declare my income from OnlyFans? 
When I tried lodging my tax it asked how much tax was withheld and no tax was withheld so what do I put there?

 

Thank you. 

Most helpful response

ATO Community Support

Replies 2

Hi @Pd1

 

Your income from OnlyFans is business income. You'll need to report the business income on the third page of myTax (personalise return) by selecting:

  • You were a sole trader or had business income or losses, partnership or trust distributions (not from a managed fund)
  • Business/Sole trader income or loss
  • either personal services income or business income or loss.

You'll need to decide if your OnlyFans counts as personal services income. You can do this by looking at our personal services income tool which is in myTax.

 

You won't need to tell us about any tax withheld in this section. Smiley Happy

 

You can read about completing myTax 2021 Personal services income and myTax 2021 Net income or loss from business on our website.

Newbie

Replies 1

I did the PSI test and it said that my income is PSI but is not applicable.

As I was filling out the business/sole trader in my tax return, I only filled in the Personal Services Income part and not the business income but it still won't let me lodge it for apparently "Personal services income are not required". But I can't fill out the business income statements for it requires to fill out the tax withheld section and no tax was withheld in my OnlyFans.
I do wish to pay what I owe. 

Thank you. 

ATO Community Support

Replies 0

Hi @Pd1

 

Sounds like you'll need to head back to page 3: personalise return. Select business income or loss instead of personal services income.

 

Remember to delete anything you've put in personal services income first, or you won't be able to remove it.

 

If you get stuck, try using our live chat on your return! This way we can see what you're looking at and guide you through it if you let us. Smiley Happy