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
McKinnon Financial Planning Pty Ltd ABN 74 155 233 784 Australian Financial Services Licence 417488 | McKinnon Financial Services Pty Ltd ABN 82 056 817 648 Australian Credit Licence 392173 | General Advice Warning: Information contained in the pages of this website is of a general nature only and has not taken into account your particular circumstances. You should consider whether any strategies and or investments mentioned in this website are suitable for you and seek personal advice from a licenced investment adviser before making any investment decision.
HomeContact UsPrintTell a FriendBookmark a SiteLinked InTwitterFacebook