Australian Blackhatters

Hey guys,

Just wondering how you guys handle your income? Do you register an ABN and filter the whole thing through that?

Also keen to here from those who are full-time and have a registered a business - apparently you can write off things like web site development, hosting and advertising costs (Google Adwords etc) off your tax bill at the end of the year. Any ideas?

I have an ABN as a Sole Trader and a Business Account at my bank that all my cheques are made out to. You are best to have a registered business name too.

To the best of my knowledge, you can write off all expenses as business expenses as long as you're treating it like a business i.e declaring your income as well

Domain registration, hosting & a percentage of your broadband bill are business expenses, not sure about Google Adwords - you'd need to ask your accountant as I've never claimed that sort of thing.

If you're going to really run this as a business, best to use an accountant at the end of the year as they'll cover your butt and also find things you may not have thought about e.g office supplies.

Cheers,
Niggles