Influencer Tax Mistakes: Common Errors and How to Avoid Them

Top Tax Mistakes Influencers Make (and How to Avoid Them)

To all the influencers out there… we know that managing taxes in Australia can be overwhelming. With multiple income sources, brand partnerships, and gifts flowing in, it's easy to slip up, and the ATO doesn’t take kindly to errors.

At Dolman Bateman, we specialise in guiding influencers through the maze of tax compliance. Let’s explore the most common tax mistakes and how to steer clear of them.

1. Underreporting Income

❌ Mistake: Not declaring all income, including cash payments, freebies, and services received.

✅ Fix: Record every dollar and item received, whether it’s a product for review or a one-off affiliate payout. Use accounting software like Xero or QuickBooks to consolidate all revenue sources.

2. Ignoring Non-Cash Benefits

❌ Mistake: Overlooking the tax value of gifted products or services.

✅ Fix: All gifts and promotional items have a fair market value that must be reported. Screenshot listings, keep emails, and store evidence to support your valuations.

3. Poor Record-Keeping

❌ Mistake: Not keeping receipts or separating business from personal expenses.

✅ Fix: Use cloud accounting tools, and keep a digital folder of all invoices, receipts, and financial correspondence. You’ll thank yourself come tax time.

4. Failing to Register for GST

❌ Mistake: Earning over $75,000 annually and not registering for GST.

✅ Fix: As soon as you hit or expect to hit the threshold, register. Start charging GST on taxable income and lodge your BAS (Business Activity Statement) on time.

5. Misunderstanding What’s Deductible

❌ Mistake: Claiming personal expenses or forgetting legit deductions.

✅ Fix: If it helps you earn income, it may be deductible—think ring lights, editing software, travel for shoots, even part of your rent. But get advice first.

Smart Strategies to Stay Compliant

✅ Open a business bank account: Don’t mix business with brunch. Keep influencer income and expenses separate for easy tracking.

✅ Schedule monthly reviews: Set aside an hour to reconcile your bank statements with your records.

✅ Use accounting software: Automation makes compliance easier and more accurate.

✅ Plan for tax: Don’t spend it all, set aside 30–40% of your income for tax and consider PAYG instalments.

Why Influencers Need a Tax Pro

The influencer space moves fast, and tax rules are just as dynamic. Working with a professional accountant means you get:

• Customised advice based on your income structure

• Guidance on GST, ABNs, and deductible expenses

• Help navigating audits or ATO correspondence

• Confidence that you're meeting your obligations and keeping more of your money

Let Us Help You

Avoid ATO penalties, claim everything you’re entitled to, and save yourself hours of stress.

📞 Call us on 02 9411 5422 or book a meeting below to speak with one of our expert tax advisors.

Your brand is your business, treat your tax like it matters.

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Disclaimer: The information provided in this article is general in nature and does not constitute personal financial, legal or tax advice. While every effort has been made to ensure the accuracy of this content at the time of publication, tax laws and regulations may change, and individual circumstances vary. Dolman Bateman accepts no responsibility or liability for any loss or damage incurred as a result of acting on or relying upon any of the information contained herein. You should seek professional advice tailored to your specific situation before making any financial or tax decisions.