my job will be writing articles in which a editorial company will pay me for every article i submit. does the company help pay my tax or do i have to do it myself? if so, what should i do? THANKS!!
Australia - 2 Answers
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1 :
I think you are going to have to do it yourself, my friend, and the best people to help you get it right are the Tax Office themselves. They will tell you what you need to do. Incidentally, I would polish up my writing, too. There are a couple of errors in what you have written in your question! I'd also suggest that you have a good camera, too. I have found that some magazines will not even consider publishing you without illustrations. It's the way of the modern world, I'm afraid.
2 :
You need to ask the company whether you are being employed as an "employee" - in which case they should deduct PAYG withholding tax from your payments. Or if they are using your services as a "contractor" - in which case you'll need to get an ABN, invoice them and declare the income as business income in your tax return and wait and see if the ATO expect you to pay tax on it (as will be shown on your Notice of Assessment). If it is the latter scenario, you will probably need to see a tax consultant at tax time to explain the process and do your tax return with/for you. In the meantime, you can easily apply for an ABN here: www.abr.gov.au Do not register for GST unless you expect to earn more than $75000 a year from ABN invoicing as a contractor/self employed/business. You are not required to be GST registered with an annual turnover less than $75000pa. If your ABN is not GST registered, then you must write "invoices", not "tax invoices", and make it clear on the invoice that you are not registered for GST (i.e. write that at the bottom of the invoice and do not add 10% GST). The ATO are very helpful to people who are new to all this. Learn more from their website and give them a call. http://www.ato.gov.au/businesses/content.asp?doc=/content/25193.htm&mnu=35972&mfp=001/003 But if you are just a "casual employee" in the true sense, and not a contractor in business for these services, then none of that ABN and business stuff applies to you. Just ask the company - "am I expected to provide you with a TFN or an ABN
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