To the taxman, that free hotel stay isn't a perk, it's income. From TikTok & YouTube to freelance writing, if you create content for a living, you aren't just a creative; you are a business, and that comes with a specific set of tax traps.

Renganathan Kannan, Executive Director at TRATAX, joins us to debunk the dangerous myths of the gig economy: from why AdSense isn't tax-free foreign income to why your "gifts" need a fair market value

We discuss:

• The "Badge of Trade": Why systematic content creation is classified as business income, regardless of whether you registered a business or not.

• The "Free" Holiday Trap: How to calculate the taxable Benefit in Kind (BIK) when a brand pays for your hotel stay or sends you expensive products in exchange for a review.

• AdSense is NOT Foreign Income: Busting the myth that USD earnings from YouTube or Patreon are tax-exempt foreign source income.

• Optimising Deductions: How to legally claim expenses for makeup, travel, and even a portion of your home rental if used as a studio.

• Hobby vs. Business: The thin line between tax-free capital gains (selling a stamp collection) and taxable business income (systematic trading).

Produced by: Roshan Kanesan

Presented by: Roshan Kanesan

This and more than 60,000 other podcasts in your hand. Download the all new BFM mobile app.

Categories:  investments,  financial wellness,  managing,  economy

Tags:  tax filings,  income tax,  lhdn,  Informal Economy,  creator economy,  tax deductions,  digital economy,