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Dave – FS Concierge
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Hi [USER=120830]@Plasterer92[/USER],

Welcome to the forums!

In general yes your 2nd income will be added to your 1st income for tax purposes. Since you will be taxed on your 2nd income, you should plan to put aside a portion of it to cover the tax bill at tax time.

You will pay tax on the profits only ($1500 not $2000). You will declare your $2000 income and your $500 expenses.

At the following link you can find the current tax rates, so you’ll know how much to put aside for tax: https://www.ato.gov.au/Rates/Individual-income-tax-rates/

Hopefully an accountant will drop by to fill in any gaps, or correct me if I’m wrong.

Dave