Earn Tax-Free Income
Written on the 23 May 2011 by G. Dean McKinnon
It's not very often that the ATO allows you to earn income without paying tax, but you can earn tax-free income from hobbies.
A common example of this type of tax-free income are fees earned from refereeing social sports (e.g. touch football, netball, etc.). We have a client that earns an average of $200 per week during the season from refereeing in his local soccer competition - it keeps him fit, as well!
Of course, every individual's situation is different, so make sure you contact your accountant to discuss your particular circumstances before embarking on your tax-free fitness regime.
If you don't have an accountant and would like some advice, please Contact us and we will arrange a referral to qualified professional.
Author:G. Dean McKinnon