Luke Chemies
๐ค SpeakerAppearances Over Time
Podcast Appearances
You certainly can, Danny.
Next thing, Danny's getting one.
Jan comes right... No, I won't.
But the thing starts to snowball, right?
And what was once a hobby starts to become consistent sales, consistent income, and also many pieces of the puzzle should the IRD look and go, oh, hey, you were at markets selling, or you were on social media selling, you've got multiple posts doing it, and Fannie works at the IRD now too, and brought one of your candles into the bloody building.
So you probably do need to pay tax on the profits that you're making from your mocha bloody candles, mate.
Does that make sense?
Once it starts to become a bit more consistent,
the IID may have a right to say, hey, pay up.
And this is what happened with my mate where he was selling things on TradeMe.
And I think I did a MoneyMail ages ago where the IID went to TradeMe and I think TradeMe tried to say, nah, forget about it.
They were like, we want the sale data of various accounts.
And my mate got a letter from the IID saying, hey, we know that you're an active seller
on here and there's a lot of activity.
However, we don't see any self-employed income in your tax return.
Seems a bit strange.
And then the onus is on him.
Is he going to then go, oh, okay, here's the profits that I made for each of these years.
And this is
what the correct thing to do is, go back and correct those tax returns and pay the tax on it.