Phew, The A Man is finally in bed and I have a chance to write my money tip post.
With my blog, I haven't had to look after money very much, however I have started getting a few small advertisers an sponsored posts. The first time someone asked me for an invoice, I freaked out a bit as I had never done anything like that before. I found a simple temple and sent one, only to be asked for an ABN (Australian Business Number). I didn't have one and didn't think too much of it, until the advertiser withheld quite a bit of money, nearly half of what they were going to pay me!
I did some research and found that an ABN is free and I don't have to register to collect GST. That was one of my biggest fears, collecting GST. If you're in Australia and need to register for an ABN, click here.
I've been keeping copies of any invoices I send and receipts for coffee and entry fees and will take them all to an accountant at the end of the year. We'll see what she says about paying tax. You never know, I might earn some more money by then…
If you've been holding off, register an ABN, it's the first step to becoming a "real" business, and it pays off with suppliers.
