Business Basics

January 9, 2017

Business or Hobby?

What is a hobby? A hobby is a pastime or leisure activity conducted in your spare time for recreation or pleasure. Benefits of being a hobby Personal enjoyment and satisfaction. You can gift or sell your work for the cost of materials. You can do it in your own time or when people contact you. You don’t have the reporting obligations of a business. Find out about running a hobby or watch the Are you in business videos on the Australian Taxation Office (ATO) website. What is a business? You’re in business, if your activity, as a whole, is commercial with an aim to make a profit. Benefits of being in business You can apply for an Australian Business Number […]