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4 July 202012:03 PM - edited 4 July 202012:14 PM
Hi. I'm a private piano teacher who teaches from home. I get paid in cash and issue receipts so have a good record of my income for the year. I store any deductions in "My Deductions" in the ATO App and have receipts for these items. I earn less than $10000 per year so fall under the tax free threshold. This is my sole source of income. Could you please advise the best way to record my income and deductions in my annual tax return? Each year I do something different and I thought I should find out the correct way to record things this year! I do have an ABN although have only used it to be eligible to be a Creative Kids Provider in NSW and have not previously included it when completing my tax return. When I looked at doing my return as a small business, I could not see an option of music teacher as a business service. Also, the business tax return seemed far too complex and involved for the nature of my "business" (although I am happy to fill this in if it is the correct option). Any advice would be greatfully appreciated. Many thanks