Do I have to declare gifts that I receive from my Content fans?

As crazy as it sounds, you do need to declare gifts as income, the Inland Revenue Department (IRD) have made it clear ‘If content creators do not want to be taxed on receipt of a non-monetary item, they should not accept the item.’ If you receive non-cash benefits to promote, such as gifts, hotel accommodations, travel

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What is Income?

What counts as income could surprise you! You need to be aware of anything related to your content creation that could be viewed as income. Same examples could be; • Payments from platforms based on the number of times content is viewed;• subscriptions;• payments for promoting products or brands in a content creator’s online content;•

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Sponsorship and Deductions

General Guideline Providing sponsorship for your team or community event can be fully deductible depending on the type of sponsorship, as long as your business receives promotion. Fully Deductible Sponsorship For sponsorship to qualify as fully deductible, it must meet the general deductibility criteria. The IRD must ascertain that the expense relates to advertising and

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