Registering Tuition as a Business?

[luken93]

So I was talking with the 'rents about tutoring after year 12, and they suggested that if I were to do it I should look into actually registering as a business with an ABN etc

Although you would then have to pay tax on tuition, you would be able to claim things like:
- Petrol
- Stationary
- Computers
- Textbooks
- Mobile Phones

and the list goes on...

Now I'm not too sure as to how the whole "wiping it off on tax" thing works, so does anyone have any info and/or do it themselves? And would there be a certain amount of money I'd need to earn to make it worthwhile?

[Russ]

Depends on how much money you plan to make through tutoring / how much you already make from any other employment.

The benefits don't look that appealing to me, tbh, but I guess you could make it work.

[schmalex]

I don't see why you'd want to go out of your way to pay tax?

[luken93]

I don't see why you'd want to go out of your way to pay tax?

Haha I'm not going out of my way to pay tax, but if I could potentially claim some of my purchases/petrol in my tax to get in a lower bracket it could potentially be cheaper to do it that way, although it's probably a slim chance...

[physics]

NAH. its better off unregistered.... IMO.

things get messy. D:

[iNerd]

Just curious.

Shouldn't you have learnt this in BM?

[aznboy50]

So I was talking with the 'rents about tutoring after year 12, and they suggested that if I were to do it I should look into actually registering as a business with an ABN etc

Although you would then have to pay tax on tuition, you would be able to claim things like:
- Petrol
- Stationary
- Computers
- Textbooks
- Mobile Phones

and the list goes on...

Now I'm not too sure as to how the whole "wiping it off on tax" thing works, so does anyone have any info and/or do it themselves? And would there be a certain amount of money I'd need to earn to make it worthwhile?

You would need a working with children check. Also, I'm not too sure that the government will pay for an non-Victorian accredited teacher's materials. It's a bit like me claiming on a stethoscope saying I'm practising medicine. My mum's a teacher and I'm pretty sure the government wouldn't pay expenses unless your qualified.

[aznboy50]

Also,

I'm fairly sure teachers can't just claim on laptops, they are all provided by their respective schools. Again, it's like me claiming an x-ray machine saying I'm a radiologist.

[luken93]

Just curious.

Shouldn't you have learnt this in BM?

Pfft BM doesn't teach you anything about that, especially 3/4

So I was talking with the 'rents about tutoring after year 12, and they suggested that if I were to do it I should look into actually registering as a business with an ABN etc

Although you would then have to pay tax on tuition, you would be able to claim things like:
- Petrol
- Stationary
- Computers
- Textbooks
- Mobile Phones

and the list goes on...

Now I'm not too sure as to how the whole "wiping it off on tax" thing works, so does anyone have any info and/or do it themselves? And would there be a certain amount of money I'd need to earn to make it worthwhile?

You would need a working with children check. Also, I'm not too sure that the government will pay for an non-Victorian accredited teacher's materials. It's a bit like me claiming on a stethoscope saying I'm practising medicine. My mum's a teacher and I'm pretty sure the government wouldn't pay expenses unless your qualified.

Yeah I spose that'd be true, I don't think I'd bother, but just thought I'd check

[iNerd]

Just curious.

Shouldn't you have learnt this in BM?

Pfft BM doesn't teach you anything about that, especially 3/4

So I was talking with the 'rents about tutoring after year 12, and they suggested that if I were to do it I should look into actually registering as a business with an ABN etc

Although you would then have to pay tax on tuition, you would be able to claim things like:
- Petrol
- Stationary
- Computers
- Textbooks
- Mobile Phones

and the list goes on...

Now I'm not too sure as to how the whole "wiping it off on tax" thing works, so does anyone have any info and/or do it themselves? And would there be a certain amount of money I'd need to earn to make it worthwhile?

You would need a working with children check. Also, I'm not too sure that the government will pay for an non-Victorian accredited teacher's materials. It's a bit like me claiming on a stethoscope saying I'm practising medicine. My mum's a teacher and I'm pretty sure the government wouldn't pay expenses unless your qualified.

Yeah I spose that'd be true, I don't think I'd bother, but just thought I'd check

I once was going to take BM because I thought it'd help me in the real world :/

[aznboy50]

No harm in trying mate, but I wouldn't go out spending $$$ on a laptop assuming it'll be covered by tax.

[lexitu]

I don't see why you'd want to go out of your way to pay tax?

This and a number of other reasons:
- Completing forms is a pain in the arse
- You don't need an ABN to conduct business - I'm pretty sure you can also claim deductions without an ABN, but check this
- You need a business name - $80
- The money you will be taxed is going to outweigh the deductions (likely)

[AccFur]

Just curious.

Shouldn't you have learnt this in BM?

Pfft BM doesn't teach you anything about that, especially 3/4

So I was talking with the 'rents about tutoring after year 12, and they suggested that if I were to do it I should look into actually registering as a business with an ABN etc

Although you would then have to pay tax on tuition, you would be able to claim things like:
- Petrol
- Stationary
- Computers
- Textbooks
- Mobile Phones

and the list goes on...

Now I'm not too sure as to how the whole "wiping it off on tax" thing works, so does anyone have any info and/or do it themselves? And would there be a certain amount of money I'd need to earn to make it worthwhile?

You would need a working with children check. Also, I'm not too sure that the government will pay for an non-Victorian accredited teacher's materials. It's a bit like me claiming on a stethoscope saying I'm practising medicine. My mum's a teacher and I'm pretty sure the government wouldn't pay expenses unless your qualified.

Yeah I spose that'd be true, I don't think I'd bother, but just thought I'd check

I once was going to take BM because I thought it'd help me in the real world :/

Business Management would help in the human resources department and general knowledge about LSO

[burbs]

Just curious.

Shouldn't you have learnt this in BM?

Pfft BM doesn't teach you anything about that, especially 3/4

So I was talking with the 'rents about tutoring after year 12, and they suggested that if I were to do it I should look into actually registering as a business with an ABN etc

Although you would then have to pay tax on tuition, you would be able to claim things like:
- Petrol
- Stationary
- Computers
- Textbooks
- Mobile Phones

and the list goes on...

Now I'm not too sure as to how the whole "wiping it off on tax" thing works, so does anyone have any info and/or do it themselves? And would there be a certain amount of money I'd need to earn to make it worthwhile?

You would need a working with children check. Also, I'm not too sure that the government will pay for an non-Victorian accredited teacher's materials. It's a bit like me claiming on a stethoscope saying I'm practising medicine. My mum's a teacher and I'm pretty sure the government wouldn't pay expenses unless your qualified.

Yeah I spose that'd be true, I don't think I'd bother, but just thought I'd check

I once was going to take BM because I thought it'd help me in the real world :/

That would probably fall under accounting or eco more than BM. BM is more about management, hence the name. How employees are managed and how a business interacts with the world.

[taiga]

BM TEACHING U HOW 2 DO STUFF IRL???

erm, unless you want tuition to be a big money maker for you, I'd say no