The tax implications of earning money from content creation, including content created as an influencer on social media platforms, is “the same as for anyone else”, an ATO spokesperson says.<\/p>\n
“Income earned is taxable, regardless of the form in which it is given to you.”<\/p>\n
If you are paid with goods or other benefits, for example being able to keep an outfit used in a post, or being “gifted” something, that is classed as a “bartering transaction”.<\/p>\n
And that is subject to the same income tax and GST treatment as normal cash or credit payments, the spokesperson says.<\/p>\n
Is influencing a business?<\/p>\n
If an influencer is earning money through continuous and repeated activities for the purpose of making a profit, then it’s likely they are running a business<\/a>, according to the ATO.<\/p>\n “If so, they will need to register for GST and lodge a business activity statement if they exceed or expected to meet the GST turnover threshold of $75,000 per annum,” the spokesperson says.<\/p>\n Influencing would not be considered a business if it was a one-off transaction, or a hobby, or recreation in which you don’t seek to profit, for example.<\/p>\n What can influencers claim on tax? If an influencer or content creator is paid with goods or other benefits, for example being “gifted” something, that is classed as a “bartering transaction”. (Pexels)<\/p>\n Queenie, who has 450,000 followers across her social platforms, is now a full-time content creator.<\/p>\n And she has become much better at knowing what she can claim.<\/p>\n Because she makes video content, Queenie has claimed camera equipment, microphones and lighting equipment on her tax.<\/p>\n The ATO says to be able to claim a deduction for an expense you must spend the money yourself and not get a reimbursement, the expense must directly relate to earning your income<\/a>, and you must have a record<\/a> to prove it (usually a receipt).<\/p>\n “You can only claim GST credits for the GST included in the price of any goods and services acquired for business purposes,” a spokesperson says.<\/p>\n<\/p>\n