Home – New Forums Starting your journey Is this a business or hobby? Reply To: Is this a business or hobby?

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jaguar23, post: 14426 wrote:
Now, another question – I have income from my normal day job, then I would have this business on the side to start off with. When it comes to tax time, does the ATO view my total income as both my day job and this new business, or are they kept seperate?

As I would have two seperate TFNs I assume they are seen as seperate?

And if it is seperate then my business wouldn’t make more than $75,000 a year, but it would be better to still register for GST?

Sorry if these questions sound dumb.

No such thing as a dumb question!
As this will be a microbusiness you probably wouldn’t set up a company – so would be a sole trader. The income would be taxed on you as an individual – in combination with your day job. You would only have one TFN (and an ABN for the business). A company would have a separate TFN and ABN.
The $75,000 threshold applies to your business only – your accountant will advise whether or not to voluntarily register for GST [if you do you will have to add the 10% to your sales which could make a big difference depending on whether your clients are businesses or consumers].
This is just general advice which is all we can give on the forum with limited knowledge – you should go and see a tax accountant.