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Streamline Your Twitch Tax

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Tax Services for Twitch TV Streamer Income

Every day, over 4 million broadcasters produce live streaming content on Twitch. If you’re one of them, any income you earn is subject to taxation here in Australia. Even if you feel you’re just having some fun, the ATO may classify your channel as a business, and they’ll expect their slice of the pie come tax time.

If you’re making money from Twitch, YouTube, or any other streaming service for creators (e.g. Patreon, OnlyFans & Social Media Influencers), it’s a good idea to speak with a tax agent to ensure you’re meeting your obligations with the ATO.

Do Twitch Streamers
Pay Taxes?

Yes they certainly do, just like YouTubers or any other online content creators. Don’t be fooled into thinking that because you’re not sitting in an office, you’re not running a business.

Have you developed a logo or branding for your channel?

Is your ultimate goal to stream full-time?

Do you stream regularly and remind your followers when you’ll be online?

Do you promote on social media to increase viewers?

Bits

Bits are virtual tokens that give viewers the ability to encourage and show support for streamers. Viewers that use bits to cheer a streamer earn chat badges that get them more recognition.

Donations

Viewers donate money to streamers they like and want to support. This is done through a ‘donate’ button on your channel.

Subscriptions

Viewers can subscribe to channels they love, with subscriptions unlocking extra perks such as exclusive chat rooms and merchandise discounts. Twitch affiliates get a cut of subscription fees, which start at $4.99 and go up to $24.99 a month.

Merchandise and Game Sales

You can create your own T-shirts, mugs, and merch for your channel and sell it through Twitch. For gamers, viewers can purchase the game they’re watching you play directly from your channel. This gives you a 5% commission on the sale.

Brand Partnerships

Get enough viewers and subscribers to your Twitch channel, and chances are companies will start to approach you for a partnership deal.

Forms of Income on Twitch

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What Expenses Can I Deduct?

Anything you purchase specifically for the running of your Twitch channel may be deducted as a business expense. This could include things like –

  • Computer Equipment
  • Digital Camera & Equipment
  • Internet
  • Home Office Furniture
  • Contractor Expenses
  • Software Subscriptions

Client Success Stories

Michael Wilczynski from National Accounts handles my family’s personal income tax and all of my business requirements. I would 100% recommend and endorse his services to anyone. His service has always gone over and above my expectations. I found Michael through a recommendation through a friend and I have no doubt that my family’s financial situation has improved since we started using National Accounts services.

Ben Heide

National accounts have gone above and beyond by helping me with my court dramas and obtaining my mortgages. Much appreciated

Tyson Jack

My experience with National Accounts was fantastic. Michael arranged multiple tax returns for me in one go, he was really professional and always available whenever I had a question. Even though I only used him for my personal returns, I would highly recommend. They took the pain of doing my return and maximised the return I received. I will be going to them again next year, Thanks again.

Michael Hughes

We used National Accounts for our personal tax return this year and could not have been happier with the service we received. We have always completed our returns ourselves online but decided to get professional assistance this time after receiving great reviews from friends. We were extremely happy with this decision and the return we received. Micheal was extremely helpful and efficient – it was fantastic not having to stress about tax time. We are definitely looking forward to his assistance next year.

Kelly

No matter who we talk to at National Accounts, the whole team is fully aware of our business and accounting activities. They have been incredibly helpful and we couldn’t have asked for a better accountant. I recommend National Accounts to business associates all the time.

Dale Ross

I cannot recommend National Accounts highly enough! Michael, Nikki, Jane and Noreen are always on hand to help and quick to respond. Michael is an expert in his field with a wealth of knowledge. Nothing is too much trouble. We have been using National Accounts for years now and will continue to do so!

Kirsty Aldridge

I was referred to Mike at National Accounts over a decade ago and he has been our family/business accountant ever since. Mike’s team are efficient and responsive. Mike’s unerring advice and our trust in him means that he remains our Accountant despite us living in Victoria for the last 8 years.

Ian Aldridge

Working with Mike and his team at National Accounts has been an absolute pleasure! He is incredibly efficient, friendly, and down-to-earth, making the entire accounting process feel easy and stress-free. Mike’s expertise in tax planning and managing business structures is unrivalled, and he consistently provides practical solutions tailored to my needs. The team at National Accounts shares his friendly and efficient approach, making every interaction a positive and personable experience. I highly recommend Mike and his team for an outstanding accounting service that combines professionalism, expertise and a down-to-earth attitude.

Rhys Barber

As a psychologist, it has historically been difficult to find an accounting service who took the time to sit down to understand the profession and explain how I can get the most out of my taxes. However Michael has really taken the time to ensure that I receive the maximum benefits from my return and his suggestions will only improve my practice further. His professionalism and dedication to his clients should be praised. I would highly recommend to all those looking for a great accountant.

Phung Ngo

National Accounts are a true partnership. Its like having a team of accountants and advisors in the next office. I have been a loyal customer for over 6 years and they have supported and advised me through the myriad of compliance and tax issues during that time. Mike, Jane and Nikki are super responsive, fast at dealing with issues and incredibly cost effective.

Brendan Nicholls

FAQs

Explore our FAQ section to find answers to common questions. If you don’t see what your looking for please get in touch.

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Even though you can receive donations through Twitch, you are not running a registered Charity and legally cannot accept charity donations. Your donations are actually payment for a service or goods, which is income. Income is taxable.

Most Twitch channels are accessible by the ATO because they exist as a profit-making enterprise, they receive regular payments, and the channel owner conducts business-related operations to run the channel.

You need to report on your Twitch net income or loss just as you would with any other business or employment. Being an affiliate for Twitch is like being a contractor for a business. They don’t pay tax on your behalf, nor do they keep records for you beyond your payout figures. It’s up to you to keep records, declare your income, and pay your taxes.

If Twitch is your ‘side hustle’ and you work a full-time job, you’ll still have to pay tax on that too. When you lodge your tax return, both streams of income get joined together and taxed at your marginal income tax rate.

If you’re intending to run your channel as a business, it’s a good idea to get an ABN. If you want to register your business, you must get one.

However, you’re not required to get an ABN if you earn less than $75,000 a year from your business. But without an ABN, you cannot claim GST back from the business-related purchases you make.

Let Us Help You Prepare Your Twitch Tax Return

If you choose to file your tax return yourself, it can be filed with the ATO through your myGov account. Alternatively, get in touch and take the stress out of tax time.

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