With the way we work constantly changing due to COVID-19, some enterprising people have used the extra time to make money through the sharing economy or by establishing a side hustle. If that’s you, then doing your tax return may be a little different this year.
We teamed up with bookkeeper Jo Doye from Alluvia Financial who shares her top tips to make tax time that little bit easier. Jo had always had a passion for good food, good booze and supporting small businesses. So she decided to start a side hustle along with her day-to-day job. She teamed up with a group of like-minded locals and started Bendigo Beer.
1. Decide: hobby or job?
It’s important to establish if you’re working on a hobby or starting a business to determine how you will manage tax. Jo says that when people first start out, they don’t think about setting