If you have been told that you need to diversify your investment strategy, you may have decided to purchase a holiday home and put it on the rental market for additional income. This can be a great way to make some money and boost your portfolio, so long as you approach it correctly and specifically, are careful when accounting for tax. Should you be worried that the ATO may look at this critically, in light of recent developments?
13 November 2017
Uber is such an easy, flexible opportunity to make some money on the side that it is tempting to jump in, start earning and leave finances for later. But tax time will inevitably come, and it will be less stressful if you plan for it from the start. Get an Australian Business Number (ABN) and register for Goods and Services Tax (GST) If you are an Uber driver, you are not an Uber employee; you are running your own business, which you need to register.
6 March 2017