After 30 June, you’ll need to tell the ATO how much money you earned through Supp's platform during the financial year (1 July to 30 June). This allows the ATO to calculate how much tax you owe. We send you a summary of your Supp-derived income in July each year to assist you when declaring income.
You might also be able to include some deductions in your income tax return if they relate to earning your income (visit the ATO's website to learn more). Claimable expenses may include:
- Self education expenses (such as Supp Pro online training, tuition fees, books and equipment for study)
- Work related phone calls/ texts / data and the work percentage of phone expenses
- Cost of a uniform where you are required to have protective or occupation specific clothing (e.g. restaurant shirts with logo or chefs uniform)
- Purchase costs of equipment used in your job (up to $300) (chef’s knives, cooking utensils, tablet, computers, cocktail mixers, tools etc.)
Paying your taxes
When you're doing shifts on Supp as a contractor, no tax is withheld by the venue (or Supp). This means you have to declare this income at the end of the tax year in your income tax filing.
While you don’t pay your taxes until the end of the financial year (30 June), we recommend saving at least 20% of all income earned through Supp so you’re not caught by surprise.
Please note that Supp is not a tax agent and the above does not constitute tax or legal advice. If you have any questions about tax we recommend you speak with the ATO or a tax accountant.
When you perform shifts on Supp, you’ll have to declare this income at the end of the tax year in your income tax filing. You don’t have to actually pay your taxes until after the end of the financial year (31 December in the US), but we recommend saving at least 20% of all income earned through Supp, so you’re not caught by surprise.
In January, Supp will send you a summary of your income earned through this platform. You’ll need to report this income to the tax office so they can calculate how much tax you owe.