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piano0011

Do i have to pay tax if teach on the web

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I am residing in Australia and i am not sure of the laws here but do we have to pay tax if we have a website business teaching piano?

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Posted (edited)

If you have a monetary income in any officially recognized currency*, you need to pay tax! It's that simple, really. Now it's possible that certain income is exempt from tax, for example, a yearly turn-over less then 5.000 individually, or 25.000 as a business. That's the current law in Belgium. 

I am not an accountant, and I am unfamiliar with tax regulations in Australia. If you have a business, it's recommended to have an accountant, he'll advise you on the best approach, and keep your taxes in check.

*So anything not monetary, or any unofficial currency, would be tax-free. Get paid in litecoin?

Edited by ignace

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