Australian cam models claiming tax

[mfcmodelaus]

Hi I'm a Australian cam girl and I have been on Myfreecams for a year and a half only within the last couple months I have taken it more seriously and it has been worth it to me to consider investing more time and actually saving money, however I have some questions regarding how tax works for cam girls and any advice would be fantastic.
Can anyone provide any detail on what kind of things you can claim on tax?
and any other information you may think can be useful?
Thank you so much for taking the time to shed some light xx

 

[Ann_Sulu]

We have an awesome thread on taxes, but it's in the model's only section. If you get verified here you can access it. It goes more in depth as to how you should handle your taxes.

I'm gonna post this here however, since I know many such as male cam models don't have access. This is a list of things my CPA listed I should consider including for my taxes. Of course you will need your receipts!

 

[MsAllyCat]

The threads here are kinda useful in general, but usually specific to the US, which is a lot different to our tax system.

Your MFC income should be declared as foreign income, and it will be taxed at the same rate as any other taxable income, and the tax free threshold will apply to the total of all incomes.

You should have a look at what deductions are available as a sex worker in the personal services category as opposed to entertainer and see which one would give you the most benefits. Here is a very general article from 2013, but I doubt the deductibles would have changed much. Will give you some ideas. http://www.businessinsider.com.au/austr ... ons-2013-6

If you type sex worker into the ATO website it gives you an internal server error. LOL. But they would be the best source of information. They are super dooper friendly too, and honestly if you call them with such an interesting enquiry I reckon they would be really happy to help you out. You can do that without giving them a name too.

Also, you could always consider a sex industry friendly/expert tax accountant. Google will help you find a few of those.

 

[AlisonNeko]

I would definitely suggest getting a sex industry friendly accountant. Has really helped me out getting on top of that.
Apparently you are traceable if you are getting more than $5000 deposited into your bank account at one time so it's important you make sure your tax return is correct.
You also need an ABN for this, though an accountant can help you with that, and determine which type of ABN to get