Earning extra outside your main job can boost your goals—but tax and costs can take a big bite. Here’s what to keep in mind.
What is my “true” hourly rate?
Your true rate is what you keep after tax, and after the time and costs of the side hustle. If you earn $50 an hour but lose 30% to tax and spend extra hours on admin, your real rate is lower. A side hustle calculator helps you see the number you actually take home.
Do I need to pay GST?
If your side income (turnover) goes over the GST threshold, you generally need to register for GST and charge it on sales. You may also claim GST on some expenses. Rules depend on your situation—check with the tax office or an accountant.
Can I claim deductions?
You can often claim expenses that relate directly to earning your side income—e.g. tools, materials, part of your phone or internet. You need to keep records and only claim the part that’s for the hustle. What’s allowed depends on the type of work—professional advice helps.