View source for Urgent Tax Office Warning For Australia apos;s Influencers

Australian influencers have been put on notice by the Australian Taxation Office as a crackdown on undeclared luxury gifts gets under way.<br>The ATO said it will use a sophisticated set of 'data matching' technologies to weed-out influencers who are failing to report sponsorships as part of their income which can include handouts and holidays.<br>A spokesman warned the technology will be used to see if Insta-famous celebrities are owning up to their 'millionaire' lifestyles.<br>'If you are paid in-kind, such as with goods or other benefits - for example, being able to keep an item or outfit used in a post or being gifted something - you are subject to the same income tax and GST treatment as normal cash or credit payments,' the ATO told the .<br>         The Australian Taxation Office announced a new crackdown on luxury lifestyle influencer (pictured, Sydney-based influencer and jewellery designer Emma Pillemer)<br>              Hundreds of Australia-based influencers share content with 'gifted' hashtags for posts they are paid for through gifted goods (pictured, left Jono Castano, right Chantelle Stanton)<br>All income generated by influencers - even those who use their platform as a hobby, not a business - is [https://www.newsweek.com/search/site/subject subject] to tax under Australian law.<br>'Gifts' given by companies instead of cash in exchange for advertisements are also considered income.<br>However, gifts given by companies without the [https://www.buzznet.com/?s=expectation expectation] of services - for example, PR packages - aren't considered income.<br>   RELATED ARTICLES              <br><br><br><br>Share this article<br>Share<br><br><br>Australian law requires creators on social media to claim when a post is sponsored, but glitzy events and luxurious gifts are often put in a 'grey area'.<br>Hundreds of influencers around Australia - including big names Jade Tuncdoruk, Olivia Molly Rogers, Bec Judd, Jono Castano, Rozalia Russian,  [https://evigetir.com/evdeneve/montaj.html EVDEN EVe NakliyAt] Chantelle Stanton, Lisa Danielle Smith and Lucas White Smith - share sponsored posts with 'gifted' hashtags.<br>Daily Mail Australia does not suggest any of the influencers named or pictured are not declaring gifts to the ATO or are otherwise evading tax. <br>         Sydney-based actor and influencer Suzan Mutesi (above) said it will be difficult for influencers to gauge the value of gifts they receive from companies<br>              The Australia Taxation Office said it will be cracking down on influencers who don't claim non-cash payments as income after sharing posts with the hashtag 'gifted'<br>A high-profile accounting executive said the upcoming 'game-changing' policies will have many influencers rethinking whether 'gifts' are worth the extra tax.<br>'It is well and good to walk around with a $5,000 handbag but if you can't afford the tax, what is the point? It is a game-changer that will have influencers rethinking the situation,' they said.<br>A celebrity agent agreed, adding 'the gravy train is over for influencers' who can't afford to pay cash for expensive presents.<br>'A crackdown will take a much-needed weed whacker to the infestations of wannabe Kardashians of late,' the agent said.<br>However,  [https://jrog.club/wiki/index.php/The_Chinese_Spy_Balloon EvDEN eve nakLiyaT] Sydney-based actor and influencer Suzan Mutesi said it could be difficult for some influencers to determine the value of their gifts.<br>She said many non-cash payments given to influencers can be sample designs that were never intended to be sold,  [https://evigetir.com/evdeneve/tips.html evDeN EvE nAKliyat] goods made specifically for them or invitations to exclusive holidays and  [https://evigetir.com/uluslararasi.html EVDeN EVE NaKliyat] events.<br><br><br><br><br>data-track-module="am-external-links^external-links"><br>Read more:<br><br><br><br><br><br>DM.later('bundle', function()<br>DM. For those who have any kind of queries regarding exactly where as well as how to utilize [https://evigetir.com/ee.html evden eVE NakliyAt], it is possible to contact us at our own web-page. has('external-source-links', 'externalLinkTracker');<br>);