When is a side hustle “real” income? The moment someone pays you. Trade Me sales, Uber, freelancing, market stalls — it all counts on your tax return, even if you still have a day job.
When do you need GST registration?
When turnover crosses the IRD threshold — or will soon. You cannot charge GST before you are registered. Missing registration when required causes bigger problems than being late on a spreadsheet.
What should you set up on day one?
- A separate bank account for business money.
- A folder — digital or paper — for every receipt.
- Monthly logging of income and expenses, not one panic in April.
How do platforms like Uber and Trade Me fit in?
They report data to IRD. Assume your income is visible. Claim real expenses — mileage, tools, home office — but keep them honest.
Why does early setup save pain?
Because “I will sort it later” becomes three years of messy CSVs and a bigger accountant bill. Treat it like a business from the first $50.
