Hey there, Kiwi YouTubers! 🇳🇿 Are you making money through AdSense on your YouTube channel? Wondering what to do with all that cash? Let’s dive into some helpful tips and advice to make the most of your earnings.
## Registering Your Earnings
So, you’re raking in those AdSense dollars, but now what? Determining whether to register as a business in NZ or declare your earnings as an individual can be a bit confusing.
### Business Registration 🏢
– If your YouTube channel is a significant source of income, registering as a business might be a good idea.
– Consider speaking with an accountant or business advisor to determine the best course of action.
– Registering as a business could offer you certain tax benefits and protections.
### Individual Declaration 🧑💼
– If your YouTube earnings are more on the side, declaring them as an individual might suffice.
– Make sure to keep track of all your income and expenses for tax purposes.
– Consider setting aside a portion of your earnings for taxes to avoid any surprises come tax time.
Remember, it’s essential to comply with NZ tax laws to avoid any headaches down the line.
## AdSense Revenue Boost
### Diversify Your Income Streams 🌟
– Consider branching out into other revenue streams like sponsored content, affiliate marketing, or merchandise sales.
– Diversifying your income can help stabilize your earnings and open up new opportunities for growth.
### Engage with Your Audience 🤝
– Building a strong relationship with your viewers can lead to increased engagement and more opportunities for monetization.
– Consider hosting live streams, Q&A sessions, or creating exclusive content for your loyal subscribers.
## Seeking Professional Help
### Accountant Consultation 📊
– Speaking with an accountant who specializes in digital content creators can provide you with valuable insights and guidance.
– They can help you navigate tax implications, business structures, and financial planning.
Remember, everyone’s financial situation is unique, so what works for one creator may not work for another. It’s essential to tailor your approach to your specific circumstances and goals.
So, keep creating amazing content, engaging with your audience, and maximizing your earnings like a pro Kiwi YouTuber! 🚀💸
Hope this helps point you in the right direction. Happy YouTubing! 🎥🎉
Get an accountant if you are earning good money. They will tell you what to do based off your situation and money coming in
Tbh I didn’t know you could earn from youtube in nz
Adsense income is taxable..
Expenses you incur in generating that income are deductible (including proportion of rates, insurance, internet)
Assets you buy to generate that income are depreciable (eg a computer you buy exclusively for video editing)
You pay tax on the profit (income minus expense minus depreciation)
You declare it in your IR3, you need to tell IRD you have business income and then the IR3 will have the appropriate fields available
You need to also file an IR10 with the IR3 to complete a financial summary (lising your income, expenses, and assets essentially).
You should see an accountant. But a service like Hnry might suit you.
Yeah mate. The top comment covers it all. I think you’re best to consider registering as a business. Mine goes straight to my business bank acc, and then from there my partner and accountant sort the tax side of things.
I’ve made around 800 nzd from a roblox channel I used to have. I bought a new pc with most and got food with the rest lol
Yup have been full time for a few years now. I hired a accountant just before that. Yes its another expensive, but it’s well worth it in my opinion. Especially if you start to develop other revenue streams (patreon, affiliate, merch sales etc etc).
The top comment has you pretty much covered.
I would add you may want to consider registering for GST earlier rather than later.
Most of your expenses will be within NZ (so your paying GST on them). While most of your income will be from overseas (so your not receiving GST). Meaning you will almost always receive a return. It can get a little complicated as NZ tax law is still catching up with this kinda thing (especially with multiple different income streams). So if your at the point where your thinking about an accountant ask them about it and your situation.
Top comment is solid. Do look at HNRY, they take care of everything. They take 1% up to $1500 I believe. Pretty good deal. My accountant + Xero cost me much more.
Accountant and Youtuber here. Though I made more money off merchandise.
Best bet is to chat with an accountant about specifics (though there are some good comments here). Also worth looking at Xero or similar software to keep track of transactions.