Airtasker Income: The ATO Is Watching

✅ Essential basics you must know:

• Every dollar is tracked and taxable
• GST registration becomes mandatory at $75,000 turnover
• BAS lodgements become part of your routine
• Record-keeping is crucial from day one

💰 What you can claim:

• Travel between tasks (variations to this assessed case-by-case)
• Essential tools and equipment
• Mobile and internet costs
• Work-specific protective gear
• Platform fees and commissions

🔍 Understanding your GST obligations:

• Once you hit that $75,000 threshold, GST changes everything.
• Your $100 task now needs to become $110 to cover GST. You'll need to lodge quarterly BAS statements by specific deadlines throughout the year.
• Here's the good news - you can claim GST credits on your business expenses.
• For example, if you buy a $2,200 computer for your Airtasker work, you could claim back the $200 GST component - but only for the business-use percentage. Use it 60% for tasks? That's a $120 GST credit.

❓ Complex scenarios we help navigate:

• Quarterly BAS lodgement timing
• Mixed business and private expense calculations
• Input tax credit claims
• Multiple income stream management
• Business versus hobby classification
• Super contribution requirements
• When to transition business structures

💡 Why ITP tax professionals can help We don't just process tax returns - we're your partners in compliance and growth. Our experienced consultants:

• Know exactly what triggers ATO attention
• Help structure your side hustle properly
• Set up efficient record-keeping systems
• Maximise your legitimate deductions
• Guide you through GST registration
• Ensure correct BAS lodgement
• Help you understand which expenses include claimable GST

Don't wait until you receive an ATO review letter. Book a consultation with ITP today, and let us help turn your side hustle into a tax-efficient success story. The first consultation might save you thousands in the long run. Visit www.itpqld.com/book-appointment or call 1300 555 773.