In an age when almost no one’s full-time job looks the same as anyone else’s, and where few people are employed by one single employer across a traditional five-day working week, it’s safe to say the concept of a ‘standard’ personal income tax return has gone right out the window.
As tax time approaches, Australia’s peak body for Certified Practising Accountants – CPA Australia – has issued an important warning that this year. If you have earned income from multiple revenue streams – including through digital sales and/or social media platforms – you should think carefully about your income reporting obligations and make sure you self-report all your taxable income to the Australian Taxation Office (ATO).
