Driving Uber on the weekend. Tutoring a few kids after school. Cooking and selling tiffins out of your kitchen. Picking up the odd cash shift in a restaurant. If you're earning on the side in Australia, the Australian Taxation Office (ATO) almost certainly knows about it, and the rules around what you need to declare can catch people out. In this episode of Money Matters, SBS Hindi host Swati Sharma sits down with registered tax agent Puneet Singh to walk through side hustle and cash job tax obligations and implications, ahead of EOFY.
What you'll learn in this episode:
- If you're earning money on the side from Uber, tutoring, food, Etsy, or any other side hustle, when does the ATO consider it taxable income?
- How does the ATO's data-matching with platforms like Uber, DoorDash, Airbnb, and the banks actually work, and what does it pick up?
- If you've been earning cash and not declaring it, what are the real consequences, and is there a way to fix it without getting into trouble?
- When do you need an ABN, and at what point do you have to register for GST?
Australia's financial system, explained in Hindi.
Money Matters is SBS Hindi's plain-language guide to the money decisions that shape our lives: tax, super, mortgages, sending money home, and more. In conversation with industry experts, we break down one topic at a time, honestly and without the jargon.
In this episode of Money Matters, we explore the tax implications of side hustles and cash jobs in Australia, ahead of the end of financial year (EOFY).
New episodes drop every Wednesday.
Disclaimer: The information given in this podcast is of general nature and for educational purposes only. Contact a professional tax agent for advice tailored to your specific situation.
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