I'm Jackie and I crunch the numbers here at TRIBE. We have a huge Australian and international community and I want to help with some FAQs on what an ABN and GST are and why they might be important to our Australian influencers, especially around tax time.
This is basic information and in no way advice - we'll leave that to your accountant!
What's an ABN?
An ABN is quite simply an Australian Business Number. It’s an 11 digit
number registered to anyone doing business to help identify their business
or organisation to the government and community.
Do Influencers Need An ABN?
You only need an ABN if you have a business or other enterprise within Australia. If your influencer income (through TRIBE and other sources) is consistent and has become more than a hobby, then you may need to register as a business for an ABN.
You can apply online at no cost and the majority of people receive their unique number within a day.
What Is GST?
Goods and services tax (GST) is a 10% tax charged on goods and services consumed or sold within Australia.
Check out the beginners guide to GST here.
Why Does TRIBE Ask If I'm GST Registered?
If you have an ABN for your TRIBE or income and you generate over $75,000 within a financial year under this ABN, then you need to register for GST. If you’re unsure about whether you have an ABN for your TRIBE income, or how much your income is, call your accountant as we can’t make that call for you.
Once you select ‘GST registered’ and input your influencer ABN in the You > Payment Details section of the app, then TRIBE will automatically issue the correct invoices to you, inclusive of GST.
If your TRIBE income doesn’t require you to have an ABN or be GST registered, then there’s not much to worry about.
Do I Need To Declare My TRIBE Influencer Income On My Tax Return?
You know we love to help you where we can, but this crosses into advice territory so is best left to the professionals!
Can I Access My TRIBE Payments
In One Easy Place?
All of your payments from sponsored posts generated through TRIBE are emailed to you with an influencer invoice attached. You could also check your bank statement for any payments from TRIBE. If you’re struggling or want to double check you’ve got it all covered, shout out and we’ll help confirm figures.
That should do it, I need to note the above is all factual and individual circumstances will determine what you may or may not need to do.
TRIBE's terms and conditions page is a good place to get more clarification on some of the things outlined above. Otherwise, please speak with your accountant if you have any specific questions and keep creating your beautiful content!
