I'm thinking of becoming a PP consultant for a new company.
I'm keen to get out and earn a few dollars here and there, but was wondering what sort of affect my earnings will have on my FTB payments. If I earn so much that it cuts down my payments drastically, it's no drama I'd just liked to be prepared for that change.
TIA :)
it depends. From what i remember when i did tupperware if you earn under so much they class it as a hobbie not an income best bet would be to call and ask
I think the first $5,000 is not taxable... But i'm not sure what happens if it's added to your partner's income and it puts you above a threshold. That's the tricky thing isn't it?
When I was Tupperware, everything I earned was classed as a hobby, until over a certain amount.
as long as your turnover (both incoming and outgoing) have it deemed a hobby by ATO and not included on your ITR, then FAO don't see any of it and it doesn't impact you
Ok so I will need to talk to the ATO about it then? ;)
Thanks!
yeah check with ATO about what the limits are to classify as income