Home – New Forums Starting your journey Problem or advice Reply To: Problem or advice

  • Total posts: 82

First I need to get some understanding of what your doing. In sounds to me like you have three streams of income:

– your pension
– your business income for your administration and bookkeeping work
– income from website

It appears you’ve already identified that your pension is not taxable, so I won’t discuss that, instead just focusing on the second two streams of income.

The first thing you need to identify is if you are carrying on a business. The income associated with your business (admin and bookkeeping) as your already registered for GST would indicate to me that your are carrying on a business. Therefore, any income earned would be assessable, but you would be able to reduce this by any business related expenses you have.

The income from the website might be a little different. What does the income entail, is it regular stream of income, is it offered to the public, do you run what ever your doing though the website like a business? These things you need to think about when identifying if you are carrying on a business rather then just a hobby, or something fun to do. If you determine that its just a hobby then that income would not be taxable. If it is a business then it would have the same characteristics as your admin and bookkeeping business.

Hope that’s what you were looking for, had a little trouble trying to completely understand the question you were actually asking.