• Record keeping

    Regardless of how much you earn or the reasons for providing the goods or service, you should keep records of income and expenses so that you can keep track of your activities and assist with tax obligations when they arise. You may intend to provide goods or services as a hobby or recreational pursuit, but your level of activity over the whole year may mean that you are in fact running a business and need to comply with income tax and GST obligations.

    See also:

      Last modified: 07 Apr 2017QC 45171