Thanks for the post (though I'm far off this step to use it). But I rarely see Australia-specific ways this all works so I always pay attention then 😆 One thing I never see as well is the business/tax side of things too, not sure if that's something you've covered before or planning to, to report any income, and the deductions--like claiming the ISBN purchase?
Yep! That's in part 3, but essentially if you report an income, of any amount, if your author business to the ATO you can then claim any costs with regards to it. That includes obvious stuff like ISBNs, covers, editing etc, but also things like a portion of your internet costs (I think, always best to verify with an accountant)
Thanks for the post (though I'm far off this step to use it). But I rarely see Australia-specific ways this all works so I always pay attention then 😆 One thing I never see as well is the business/tax side of things too, not sure if that's something you've covered before or planning to, to report any income, and the deductions--like claiming the ISBN purchase?
Yep! That's in part 3, but essentially if you report an income, of any amount, if your author business to the ATO you can then claim any costs with regards to it. That includes obvious stuff like ISBNs, covers, editing etc, but also things like a portion of your internet costs (I think, always best to verify with an accountant)
Awesome, look forward to reading it and taking notes 😁