AiMCO Releases Taxation Information Sheet to Aid Member Compliance

The Australian Influencer Marketing Council (AiMCO) has released an industry information sheet for creators for ‘Taxation and Compliance’, designed to help its influencer and creator members navigate the Australian tax system.

The Industry Information Sheet -- a first-of-its-kind for the national influencer marketing sector -- has been created specifically for Australian creators and influencers.

Exclusively available to AiMCO members, the sheet was developed following last year’s highly successful ATO Creator Webinar, hosted by ATO assistant commissioner, Rob Thomson.

AiMCO has used the webinar’s key insights to form the basis of this release, ensuring it covers content that is both relevant and valuable to the sector.

It includes resources, tips and tools for creators and influencers, along with content exploring Australian tax legislation, ethical and legal considerations, contractual obligations, work-related expenses, calculating deductions, income reporting, tax obligations for child and family influencers and minors, GST and superannuation, and best practices for tax compliance.

AiMCO managing director, Patrick Whitnall, said, “In recent years, online platforms have made it easier for individuals to monetise their digital presence. This has opened vast opportunities for people to create new income streams beyond traditional employment or business setups, and has also driven the rise of the rapidly expanding market of creators and influencers.

“While this burgeoning industry has been marked by dynamic growth, we know many of our members have struggled to understand the complexities of complying with the tax regulations that govern it. It has been developed to assist Australian content creators and influencers on proper tax compliance and best practice to avoid legal repercussions.

“When talking to many creators, they enter this industry based on their passion, creativity and community, and they then suddenly find themselves as CEO of their own business, which requires new knowledge and skills to navigate. Our goal is to ensure that creators feel as confident about tax and compliance as they do about posting on social media.”

The ‘Taxation and Compliance Information Sheet’ is the latest industry-leading resource released by AiMCO, specifically for the Australian influencer marketing sector.

The organisation launched its inaugural salary benchmarking guidelines last year, providing salary expectations for various roles within the influencer industry.