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I guess that depends on how much you end up making and/or spending in your endeavour. Do you have an ABN registered? You’d need to document everything you do. Probably best to speak to an accountant as well.

I have taken up photography and at this stage not sure how it will pan out but am already recording all my expenses (equipment is not cheap) and I’ve already sold some photos. So whether or not it will become income producing is yet to be seen but I’m treating it like it will be and making sure I have it all in my bookkeeping system.