Are you running a business or just a hobby? The ATO Clarifies the Rules by issuing ATO Draft Taxation Ruling TR 2026/D2 – What You Need to Know With more Australians earning income from side hustles, online activities and small ventures, an important tax question arises: When does a hobby become a business? ATO Draft Taxation Ruling TR 2026/D2 outlines the factors used to determine whether someone is genuinely carrying on a business for income tax purposes. The distinction matters because it affects how income is taxed and whether expenses can be claimed as deductions. The Seven Indicators of a [...] READ MORE