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Articles
Our Advent calendar for 2019
Tax Office sounds warning on 8 types of super schemes
Don’t forget sharing economy income
Impress your friends with your knowledge!!
Salary sacrificing and the superannuation guarantee
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Reverse Mortgage?
How the gig economy could create hidden tax issues for contractors and employers
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What happens when interest rates hit the floor?
Director Penalty Notices (DPN)
Synchronised global economic slowdown
STP to be increasingly monitored
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Employee or independent contractor: What happens when it goes wrong?
Single Touch Payroll (STP) reporting irregularities: ATO contacting businesses
Employee entitlements, ‘wage theft’ and Fair Work: Why it’s time to be proactive
How's Australia really doing - the real figures?
Pension deeming rates cut from 1 July 2019
Audit warning sounded as ATO clamps down on dodgy claims
New ATO data-matching program – overseas movement data and HELP debt
ATO black economy strike force heads to Brisbane
Don’t forget sharing economy income

Money that you earn from “gig” jobs through platforms like Uber, Airtasker and Airbnb, such as transporting passengers or renting out a room or house, counts as your assessable income.



       


 


This means you must declare it on your tax return.  And, be aware the platform sends the income details direct to the Australian Taxation Office for their data matching surveillance.


Depending on your gig activities and expenses, you may also be able to claim deductions related to this type of income, but it’s important to keep evidence to support your claims.  Smart taxpayers tell their tax agent well before year end.


 


 


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19th-December-2019
  Mitchell Partners, Chartered Accountants & Business Advisors Suite 4, 109 Union Road Surrey Hills, Vic. 3127 | Phone: 61 3 9895 9333