Including Paid Survey Earnings in Tax Return

Question:

I would appreciate it, if you could provide me with the answer to the following question:

1.    In regards to the money that you earn do you need to pay tax on this money, if so does the company take out the tax and send us the nett amount, and does the companies send group certificates out at the end of the year so you can complete a tax return.

Thank you for your assistance in this matter, and I look forward to receiving your response.

Christine

Answer:

Hi Christine,

Thanks for your email.

This is a very good question and you have been the third person to ask me this weekend. I will be sure to put a page up on my site answering this question soon for other to see.

The money that you earn from doing online surveys is indeed taxable income and will simply need to be entered into your next tax return.

The survey companies will not withhold tax on your behalf or send out a group certificate so, it is up to the participants to keep track of the money they receive from doing surveys and implement it into their tax returns.

I hope this answers your question. If not please don’t hesitate to let me know.

Kind regards,

Simon.

Second Question:

Thank you for your response.

When they deposit money into your bank account or paypal account do they send you anything to let you know how much they have deposited into your account so you have some record of it just in case you need to provide some confirmation to the ATO.

Also have you heard of the website Quick Paid Surveys if so are they good.

Thank you for your help, and I look forward to receiving your response.

Answer:

Hi Danny,

Most of the companies will not send you anything to confirm how much you have earned. In my experience the best way to log what you have earned is to look at all the deposits into your bank statements at the end of each financial year. This is how I do it.

Please avoid Quick Paid Surveys at all costs. This company is a total rip off. You will not find any companies on their list that you will not find on my site. If they do they will not be relevant enough to make you any money.

I am notified by the companies that come to the Australian market and I then test them to make sure they are legitimate. Once I have accepted them I add them to my website. If you have already signed up to the top 5-6 companies on this page of my site:

http://www.onlinesurveysaustralia.com.au/online-surveys-list/

then you are well on your way to making some Paid Survey money.

Regards,

Simon.