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Speaker 1: Hello, my name's Santasha Nabananga Bamblet. I'm a proud your

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Speaker 1: the Order Kerni Whoalbury and a waddery woman. And before

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Speaker 1: we get started on She's on the Money podcast, I

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Speaker 1: would like to acknowledge the traditional custodians of the land

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Speaker 1: of which this podcast is recorded on a wondery country,

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Speaker 1: acknowledging the elders, the ancestors and the next generation coming

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Speaker 1: through as this podcast is about connecting, empowering, knowledge sharing

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Speaker 1: and the storytelling of you to make a difference for

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Speaker 1: today and lasting impact for tomorrow.

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Speaker 2: Let's get into it.

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Speaker 3: She's on the Money. She's on the Money.

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Speaker 4: Hello, and welcome to she is on the Money podcast

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Speaker 4: for millennials who want financial freedom. My name is Georgia King,

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Speaker 4: and joining me as always is Victoria Define.

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Speaker 2: How are and I am well?

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Speaker 4: Today we are talking about a topic so many She's

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Speaker 4: on the Money community members are familiar with side hustles,

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Speaker 4: but more specifically, how we can work out if our

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Speaker 4: side hustle is tax compliant.

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Speaker 2: Important.

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Speaker 4: It makes a lot of sense that over the last

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Speaker 4: couple of years, in living through a pandemic, so many

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Speaker 4: of us have had to adjust the way we work,

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Speaker 4: and I know personally so many people in my life

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Speaker 4: have started their own side hustles to tike couple of

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Speaker 4: income lost.

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Speaker 2: It's very colutely.

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Speaker 4: As it turns out my mates and that she's on

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Speaker 4: the money community, We're not the only ones now. In

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Speaker 4: March this year, a new national report released by IG

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Speaker 4: revealed that nearly half forty eight percent to be presas

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Speaker 4: of Australian surveyed either have or are planning to start

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Speaker 4: a side hustle, which to me, Victoria Devine, is staggering.

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Speaker 2: It is because do you know what we did a

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Speaker 2: couple of years ago. So back in twenty nineteen, when

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Speaker 2: I first did the podcast and our community started to grow,

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Speaker 2: I did a census, and the census will come out

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Speaker 2: again this year. I'm still just pulling all my questions

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Speaker 2: together because I want to survey you guys and like

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Speaker 2: actually see the insights from our community. But I asked

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Speaker 2: in that survey how many of you had a side

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Speaker 2: hustle or we're planning to start, and it was twenty percent.

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Speaker 4: Look at that grow, I wonder what would happen if

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Speaker 4: you did that now in our commisity.

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Speaker 2: I feel like so many people in our community have

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Speaker 2: side hustles because we're learning so much about what that

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Speaker 2: actually means. So it's now no longer like, oh my gosh,

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Speaker 2: I started this jewelry creating business and I registered in

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Speaker 2: ABN and I did this and I did that. To

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Speaker 2: now people going, oh, I just do online surveys as

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Speaker 2: my side hustle on the weekends, and you're like, wow,

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Speaker 2: like there's so many different ways. I remember a couple

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Speaker 2: of months ago we had a money diarist who just

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Speaker 2: did stuff on air tasker, and it's just like, there's

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Speaker 2: so many different ways to have a side hustle. That

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Speaker 2: doesn't mean you have to register in ABN and start

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Speaker 2: an entire business. You can just like literally just hustle

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Speaker 2: on the side for a little bit, go in some

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Speaker 2: extra casholer and you're good.

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Speaker 4: I love it as long as you pay tax on it.

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Speaker 2: Yes, And that's why this whole episode is right.

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Speaker 4: So for anyone who is unfamiliar with the term, what

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Speaker 4: actually is a side hustle, let's break it outside job

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Speaker 4: or side revenue generating exercise.

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Speaker 2: Let's call it that to bring in some extra cash.

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Speaker 2: So it could be as we heard on our money diarist,

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Speaker 2: was it last week or a couple of weeks. It

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Speaker 2: was a couple of weeks ago. She just took the

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Speaker 2: bins in and she got an extra two grand a

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Speaker 2: year for every what was at fortnite or something something

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Speaker 2: like going down picking up the bins taking them out

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Speaker 2: for a body corporate two grand a year. That's a

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Speaker 2: side hustle. We know people who you know need scarves

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Speaker 2: and sell them on Etsy side hustle. Like, there are

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Speaker 2: so many different ways to generate income, whether you are

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Speaker 2: in a more structured side hustle, I guess framework, so

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Speaker 2: something like being an Uber Eats driver or you know,

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Speaker 2: actually doing DD or something like that, all the way

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Speaker 2: to actually having a full blown side business. Like we've

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Speaker 2: seen on money Diaries before where people are like, oh,

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Speaker 2: I have a full time job, but also I have

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Speaker 2: this entire company that I run in my spare time,

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Speaker 2: and I'm like three children, How do you even have

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Speaker 2: spare time? Because I have no children and still no

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Speaker 2: spare time. So it blows my mind how creative our

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Speaker 2: community has been in picking up side hustles. So it

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Speaker 2: could be you driving Uber, or it could be you

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Speaker 2: having a full blown company, or it could be you

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Speaker 2: letting out your spare room on Airbnb to have guests

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Speaker 2: on the weekends when you're maybe either home or not home.

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Speaker 2: I think it's so cool how creative our community has

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Speaker 2: been with finding side hustles that before they were like, oh,

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Speaker 2: I didn't even know that I could have a side hustle.

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Speaker 2: And then I realized that my spare room could literally

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Speaker 2: have an Airbnb guest in there and I could earn

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Speaker 2: some extra cash. How cool is.

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Speaker 4: That My brother has recently learned about Airbnb And let

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Speaker 4: me tell you, ladies, he is making a lot of money.

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Speaker 4: Is he actually always at home and mum is helping

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Speaker 4: him with the laundry, which makes me very mad.

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Speaker 2: Wait, so he's like leasing out here and then stay

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Speaker 2: at mom and dad's house. It's the laundry.

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Speaker 4: I'm like, can you go home even though I don't

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Speaker 4: live there.

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Speaker 2: But does your mum do your laundry?

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Speaker 4: N She helps me with Lynden sometimes. Joh, we don't

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Speaker 4: have a dryer.

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Speaker 2: You know what. The boys need a little bit of help.

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Speaker 4: They do, they do? Anyway, point is he makes a

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Speaker 4: lot of money on Airbnb. Covid really ramped up flexible

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Speaker 4: working arrangements beyond the traditional nine to five office space situation.

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Speaker 2: Which I love to say, I love.

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Speaker 4: We also mentioned a while back on our episode about

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Speaker 4: having tough conversations with your boss that perhaps your negotiations

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Speaker 4: don't always need to be around pay, but maybe around

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Speaker 4: working for your hours, which could actually give you time

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Speaker 4: to nurture that side.

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Speaker 2: Hustle, which I think is cool.

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Speaker 4: What would you say the main reasons are that people

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Speaker 4: have a side hustle, I mean obviously making money.

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Speaker 2: Look, I feel like that was the number one. Like

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Speaker 2: people have a side hustle because they want to make money.

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Speaker 2: And then it's also one of those things where it

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Speaker 2: can be a little bit more flexible. So maybe you

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Speaker 2: are a stay at home parent and you're like, I

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Speaker 2: just want to do something additional to get maybe some

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Speaker 2: cash in the door, or just be a little bit

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Speaker 2: more engaged. Like I've got a girlfriend who is a

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Speaker 2: stay at home mum at the moment, and she absolutely

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Speaker 2: adores it. But she's gotten to a point where she's

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Speaker 2: just like, all right, I do want my kid to

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Speaker 2: go to daycare a couple of days a week just

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Speaker 2: for like the social interaction. But she's not willing to

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Speaker 2: take on a full time job yet or go back

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Speaker 2: part time into her role. She's doing laundry. Like she's

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Speaker 2: just become kind of like a washing lady for a

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Speaker 2: couple of families around the area, which I think is

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Speaker 2: actually genius. So on her days off, she goes and

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Speaker 2: picks up the washing, takes it back to her house,

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Speaker 2: washes it, folds it, does whatever else, and then just

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Speaker 2: drops it back and makes bank from it. And do

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Speaker 2: you know what. I'm obviously not going to out her

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Speaker 2: on the podcast, but it's a little cash job, so

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Speaker 2: she's maybe not doing the tax thing she should be doing.

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Speaker 2: But like I'm not going to dob on her. And

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Speaker 2: if the ader come knocking, I'm like, I don't know

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Speaker 2: what you're talking about. I made that example up all

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Speaker 2: by myself.

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Speaker 4: Doney. My grandma does the same thing. Have I told

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Speaker 4: you she does mining for people?

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Speaker 2: That's so whole little bit of care. I feel like

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Speaker 2: it's genius because like Grandma's are literally the best at iron.

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Speaker 4: She is talented.

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Speaker 2: Like I can't iron to save my life. If they're

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Speaker 2: a pair of pants that I own that have any

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Speaker 2: form of plate or crease in it, I'm like, all right,

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Speaker 2: it's straight to the right cleaner. And that's so expensive.

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Speaker 2: I think it's genius. Yeah, I gu it's genius anyway.

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Speaker 4: Job.

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Speaker 2: I feel like there are so many different ways you

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Speaker 2: can have a side hustle, and it doesn't necessarily have

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Speaker 2: to always be for income, Like it could just be

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Speaker 2: you wanting to be engaged and do something because I'm

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Speaker 2: sure grandma's like, great, the money's you know, really helpful

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Speaker 2: on the side, but it's a way of, especially as

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Speaker 2: you're getting a bit older, side hustles are a way

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Speaker 2: of staying connected with your community as well, yes, and

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Speaker 2: staying engaged with people who are around you. And like,

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Speaker 2: I'm sure those families that your grandma works for, like

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Speaker 2: she's kind of hard, it's a family, and like she

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Speaker 2: probably doesn't want to lose that either. So I think

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Speaker 2: there are lots of different reasons why people have side hustles,

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Speaker 2: but predominantly, especially if you're listening to she's on the money,

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Speaker 2: it's probably due to cash, which is why we need

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Speaker 2: to be careful about how we generate it so we

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Speaker 2: don't end up with like a hefty tax bill at

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Speaker 2: the end of tax time.

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Speaker 4: How does it differ from a part time job on

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Speaker 4: the side fee.

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Speaker 2: It's all about control. So while a side hustle is

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Speaker 2: usually only done part of the time. It's not actually

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Speaker 2: a consistent part time job, like you don't have an

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Speaker 2: employment contract or a framework around it. And freelancing isn't

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Speaker 2: really considered a side hustle unless it's your secondary job.

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Speaker 2: So a full time freelancer as well. I really want

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Speaker 2: to clarify this, like, that's a legit profession. That is

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Speaker 2: what you do, that is how you do it. That

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Speaker 2: is not a side hustle. A side hustle to me

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Speaker 2: and a side hustle to the ses on the money

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Speaker 2: community is just getting some extra cash on the side.

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Speaker 2: It's not going, oh, I have a full time job

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Speaker 2: and I have a freelance career as well. Like, I

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Speaker 2: think we need to differentiate that because I would hate

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Speaker 2: people to listen to this and be like, oh, Victoria

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Speaker 2: doesn't think it's legit. Ye, no, I do, and you

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Speaker 2: are the biggest hustler of them all. So some people

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Speaker 2: just don't have a main job and then put it

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Speaker 2: all together because they have a whole heap of sid

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Speaker 2: hustles as well, which is kind of cool.

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Speaker 4: What are your hot tips when it comes to like

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Speaker 4: nailing a.

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Speaker 2: Side hustle, all right, I've written down five hot tips.

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Speaker 2: Are you ready for them? Really? So start small and

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Speaker 2: don't invest right away. So the value of starting small,

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Speaker 2: I don't think can be overstated. People often with side

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Speaker 2: hustles bite off more than they can chew and then

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Speaker 2: have to wind back significantly. So make small steps today

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Speaker 2: to put your side hustle together is going to put

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Speaker 2: you ahead of those who are starting tomorrow. But also

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Speaker 2: it's going to put you in a position where you're

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Speaker 2: completely in control of scaling that too. Often, like let's

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Speaker 2: use ironing as an example here, you'll go, oh my god,

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Speaker 2: I can get through like a basket every single night.

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Speaker 2: Is that actually feasible? And like is that actually going

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Speaker 2: to fit into your lifestyle or is that just something

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Speaker 2: you could pick up on a Sunday. So I think

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Speaker 2: it's about starting small, testing the water to see how

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Speaker 2: you go. The next is finding the right side hustle

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Speaker 2: for you. I think there's been a lot of pressure

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Speaker 2: to quote have a side hustle, which shouldn't exist. Like,

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Speaker 2: if you don't want a side hustle and you actually

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Speaker 2: want to enjoy your free time, do that that is

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Speaker 2: a privilege, Like the idea that people have a side

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Speaker 2: hustle for one of two reasons. One extra income, and

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Speaker 2: they are swapping their time for money. That is important.

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Speaker 2: But I also just think if you don't want a

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Speaker 2: side hustle, don't have one. People put too much pressure

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Speaker 2: on themselves. But it is a really good way of

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Speaker 2: getting ahead, So find the right one for you. So

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Speaker 2: is it making the money that you need it to make,

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Speaker 2: Is it going to do the things that you want

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Speaker 2: it to do. Is it nourishing you in the way

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Speaker 2: that it needs to. I think sometimes people end up

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Speaker 2: again biting off more than they can chew, and they

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Speaker 2: go got this great side a hustle. I'm making like

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Speaker 2: fifty bucks every time I sell X, But then you

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Speaker 2: find out it's taking them fifty hours to make X,

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Speaker 2: and then it's actually not a good trade off for

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Speaker 2: the time that they're sacrificing, and they actually should have

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Speaker 2: just picked up, you know, an extra guest on Airbnb

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Speaker 2: and chucked them in the spare room because they would

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Speaker 2: have made better bank. So I think it's about balancing

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Speaker 2: what is actually feasible when it comes to having a

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Speaker 2: side hustle, Because regardless of how passionate you are, I

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Speaker 2: think your time is absolutely worth money, and if it's not,

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Speaker 2: you know, balancing out, you're going to get burnt out

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Speaker 2: really quickly. The next is understanding your reasoning for starting.

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Speaker 2: So is it actually cash? Is it to pay off

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Speaker 2: a debt? Is it to build an emergency fund? Is

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Speaker 2: it to put yourself ahead when it comes to investing

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Speaker 2: for your retirement? Is it to if your first home deposit?

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Speaker 2: Is because you just want some more engaging work to do, Like,

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Speaker 2: we need to understand why to keep on track because

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Speaker 2: the side hustle can quite quickly become really all consuming.

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Speaker 2: So especially if you have a full time job and

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Speaker 2: then you're taking on a side hustle. Remembering what you're

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Speaker 2: compromising there, like is it actually family time? Is it

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Speaker 2: something that you don't want to be compromising? Is it

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Speaker 2: short term so you can get out of debt? Is

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Speaker 2: it short term so you can afford a europe trip?

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Speaker 1: Haha?

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Speaker 2: Cough Where I am right now? Bye? But it's one

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Speaker 2: of those things that you just really need to be

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Speaker 2: quite clear on that because too many times we get

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Speaker 2: so swept up and caught up in it that you're like,

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Speaker 2: oh my gosh, I didn't even realize two years down

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Speaker 2: the track that I would have done things differently, so

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Speaker 2: I think just being on track again, prioritizing your time.

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Speaker 2: This twenty four seven rising grind hustle culture is a joke,

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Speaker 2: Like nobody gets up at five am and then sleeps,

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Speaker 2: and no one can call it coffees anymore. Guys, it

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Speaker 2: is not sexy. You're not is sexy. Having financial and

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Speaker 2: mental wellness, like being consistent and looking after yourself and

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Speaker 2: picking a side hustle that actually works for your mental

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Speaker 2: health and your mental state is so important, like this

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Speaker 2: idea of rise and grind culture and like always being

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Speaker 2: on the hustle, like, honestly, I was no more girl boss, bullshit, none,

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Speaker 2: just put it in the bin. I just I don't

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Speaker 2: like it. It's so much about wellness and looking after yourself.

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Speaker 2: And please don't get me wrong, there is nothing sexier

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Speaker 2: than a person who knows what they want and is

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Speaker 2: out to get it. I'm all about that, But there's

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Speaker 2: the difference between that and someone who's like, oh my god,

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Speaker 2: I'm a hustler. I'm a cultured hustler, and I do

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Speaker 2: like you're not going just sit down, sir, So really

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Speaker 2: prioritizing your time and making sure that you're sticking to

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Speaker 2: those boundaries from my perspective, is really important because you know,

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Speaker 2: we're all about money at cheese on the money, we're

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Speaker 2: all about generating income, we're all about everything, but over

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Speaker 2: and above all of that, from my perspective, it's actually

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Speaker 2: about you and your journey. Like the tagline of my

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Speaker 2: business seller is it's your journey, And that's the thing

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Speaker 2: that we really want to focus on because it's not

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Speaker 2: necessarily about the destination. From my perspective, it's about enjoying

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Speaker 2: the journey as well and finding balance in your life.

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Speaker 2: And I think that sometimes we forget that, especially when

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Speaker 2: we get swept up in this side hustle culture of

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Speaker 2: like earning money and being a girl boss. Like we're

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Speaker 2: not girl bosses. I'm not a girl boss. No, we're

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Speaker 2: just bosses and we're just doing what we need to

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Speaker 2: for our life and our family and what we want.

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Speaker 2: And then the last one, this is like me directly

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Speaker 2: talking to freelances. Here, you are going to ask for

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Speaker 2: what you are worth. You are going to know your worth,

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Speaker 2: and you are going to add tax to that. We

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Speaker 2: are not anymore going to be afraid to charge people

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Speaker 2: for the services that you are providing. We are not

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Speaker 2: going to undersell. We are not going to under charge.

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Speaker 2: If someone comes to your business and wants a discount,

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Speaker 2: thank you for coming. No, we don't do that. Like

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Speaker 2: we put ourselves first because you are the priority here.

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Speaker 2: You need to be maintained and there is always going

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Speaker 2: to be somebody who wants to pay for your services

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Speaker 2: in full, I promise.

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Speaker 4: Also remember that if you have like a mate who

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Speaker 4: has their own side hustle and you want to support them,

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Speaker 4: but you also want mates rates, don't ask for mates rates.

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Speaker 4: Pay them what there were.

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Speaker 2: Yeah.

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Speaker 4: Thanks, So many people expect that.

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Speaker 2: Oh my gosh, No, Like I just don't understand it. Like,

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Speaker 2: don't do that. If your friend has a small business,

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Speaker 2: respect the small business. If they give you a friend

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Speaker 2: and family discount that is so kind, don't use it.

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Speaker 4: Bye, Yeah love it. Fiza, would you say that work

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Speaker 4: life balance is a unicorn or just like does not

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Speaker 4: exist for people who.

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Speaker 2: Are so pretty? Not pretty?

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Speaker 4: If you're working full time and you have a side hustle,

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Speaker 4: how do you find time for you?

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Speaker 2: Look, it's really hard, and I am preaching this and

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Speaker 2: you've probably picked up in my tone of voice today

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Speaker 2: that I'm quite passionate about this, And the reason I'm

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Speaker 2: passionate about this is because I have been sucked into

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Speaker 2: this and I do this, and I say that in

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Speaker 2: the most loving of ways, that I actually just want

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Speaker 2: you to be in the best possible position. And as

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Speaker 2: somebody who worked full time and then had cheese on

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Speaker 2: the money as a side hustle, and then all of

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Speaker 2: these other businesses that I keep starting because I am

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Speaker 2: a psycho. It is just so important to remember why

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Speaker 2: you are there and prioritize your rest in recovery. Like

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Speaker 2: a couple of weeks ago, Gee, I was completely out,

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Speaker 2: Like I could not podcast. And it wasn't because I

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Speaker 2: had COVID. It wasn't because I had the flu. All

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Speaker 2: of those things were going around. I went to the doctor,

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Speaker 2: I got tested. It was me being burnt out. And

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Speaker 2: that is not something to write home about. Like, that

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Speaker 2: is not something I'm proud of, because if I am

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Speaker 2: going to you know, I would love to think that

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Speaker 2: I'm a leader. You know, I really strive to be

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Speaker 2: a good leader. How can I do that to myself

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Speaker 2: and then expect the rest of the community to follow suit? Yeah, Like,

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Speaker 2: how can I tell you, hey, I think you need

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Speaker 2: to be prioritizing your work life balance and then people

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Speaker 2: looking at me being like, she doesn't, though, yeah exactly,

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Speaker 2: Like so I'm a bit at the time, I was like,

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Speaker 2: oh my gosh, like I'm fine, I'm going to get

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Speaker 2: it done. But even then, I just wanted to do

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Speaker 2: what I said I was going to do and fulfill

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Speaker 2: all of the work requirements I had. But even then

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Speaker 2: I probably should have just taken a SICKI and I didn't,

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Speaker 2: And I like, I'm not proud of that, and I

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Speaker 2: think that a lot of you should learn from that

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Speaker 2: and go gin know what. That put Victoria even further

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Speaker 2: behind because she didn't just stay in bed and sleep

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Speaker 2: like she should have. She put herself further back. And

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Speaker 2: so I think it's it's one of those things where

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Speaker 2: we do really need to prioritize rest and recovery and

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Speaker 2: actually even building buffer time and transport time, Like how

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Speaker 2: many times have we booked meetings back to back and

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Speaker 2: just forgotten that it's going to take half an hour

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Speaker 2: to get from one meeting to another, or that you

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Speaker 2: have to go pick the kids up from school in

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Speaker 2: between that, or that you know you don't just have

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Speaker 2: to pick the kids up from school you have to

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Speaker 2: pick them up, and you have to get them afternoon

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Speaker 2: tea and then drop them somewhere else and like all

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Speaker 2: of that time's written off. Like we need to actually

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Speaker 2: be fully aware of what work life balance looks like.

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Speaker 2: And don't get me wrong, sometimes that balance is out

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Speaker 2: of sync because it is a balance and it floats

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Speaker 2: back and forth. But it's always about trying to find

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Speaker 2: an equilibrium that really works for you. And researchers have

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Speaker 2: recently said that if you're engaging inside hustles immediately after

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Speaker 2: completing your main job, that is a recipe for burnout,

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Speaker 2: so just be aware of it. I think making sure

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Speaker 2: that you're setting really healthy boundaries is also really important.

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Speaker 1: I e.

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Speaker 2: Don't be victory devine and reply to your emails at

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Speaker 2: three am. It's just not healthy. It's just not healthy.

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Speaker 2: I've tested it. You burn yourself out, you give yourself laryngitis,

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Speaker 2: you end up with a secondary infection. It's just not cute.

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Speaker 4: Not cute. So would you say then, like penciling it

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Speaker 4: in your calendar some me time, go to yoga after work,

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Speaker 4: don't compromise on that, don't stay along at the meeting,

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Speaker 4: Like is that how you fitted in.

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Speaker 2: One hundred percent, but it's also about finding what is

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Speaker 2: actually balanced for you. Yeah, So like for you, George,

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Speaker 2: I know you're a runner, and I know that you

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Speaker 2: do yoga. For me, sometimes penciling in time after work

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Speaker 2: where I can sit on the couch scrolling aimlessly through

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Speaker 2: Instagram is my wind down time. So it's going to

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Speaker 2: look different for everybody. And I also think there's this

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Speaker 2: really unrealistic expectation of what work life balance looks like.

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Speaker 2: Right worklay Falons is getting up at seven am and

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Speaker 2: going to a beautiful ballades class and doing this and

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Speaker 2: grabbing a coffee like no, mine's actually sleeping in and

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Speaker 2: sometimes scrolling on in Instagram and that's what keeps me

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Speaker 2: straight for the.

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Speaker 4: Rest of the day, whereas to me it would be

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Speaker 4: the opposite, exactly.

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Speaker 2: Like the coffee exactly. And don't get me wrong, I

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Speaker 2: still love polarates, I still love coffee. But I just

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Speaker 2: think there's this unrealistic expectation of what work life balance

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Speaker 2: looks like because social media, as we've talked about a

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Speaker 2: million times on this podcast, really plays into it because

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Speaker 2: you go, well, this person they're so balanced, how good

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Speaker 2: is that they are going to work and then straight

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Speaker 2: after work they go to Polarates and then they go

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Speaker 2: home and they make this nourishing green bowl for their dinner,

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Speaker 2: and then they have leftovers for lunch the next state.

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Speaker 2: Like for some people that would just burn them out,

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Speaker 2: Like some people just need to go home and crash.

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Speaker 2: I get it, everybody's different, but I think really understanding

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Speaker 2: what your stresses are and what burnout could look like

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Speaker 2: for you is really important.

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Speaker 4: So if we're putting all of these extra hours into

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Speaker 4: our side hustle, v wouldn't follow. The people who do

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Speaker 4: work full time and have that gig on the side

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Speaker 4: are feeling more stressed out.

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Speaker 2: And so we're like telling people to have better work

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Speaker 2: life balance. But interesting, multiple studies have actually shown that

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Speaker 2: side hustles have helped people live more interesting and fulfilling lives,

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Speaker 2: which is kind of cool. So this study was done

436
00:19:07,920 --> 00:19:10,400
Speaker 2: by Henley Business School and it showed that a sense

437
00:19:10,440 --> 00:19:13,560
Speaker 2: of fulfillment was achieved from engaging in side hustles and

438
00:19:13,600 --> 00:19:16,239
Speaker 2: that translated directly into happiness for their both main and

439
00:19:16,320 --> 00:19:18,720
Speaker 2: side hustle workplaces, which is kind of cool. It also

440
00:19:18,720 --> 00:19:21,400
Speaker 2: found that side hustles empowered individuals to be in control

441
00:19:21,480 --> 00:19:23,760
Speaker 2: and in charge of their work, which led them to

442
00:19:23,800 --> 00:19:27,600
Speaker 2: become more emotionally and cognitively invested in their side hustles

443
00:19:27,840 --> 00:19:31,359
Speaker 2: and also transmits positive emotions that are associated with this

444
00:19:31,440 --> 00:19:35,280
Speaker 2: experience to their main job, which obviously subsequently improved job performance,

445
00:19:35,280 --> 00:19:38,600
Speaker 2: which is kind of cool and interestingly because you know,

446
00:19:38,760 --> 00:19:41,080
Speaker 2: in so many people's employment contracts it says you can't

447
00:19:41,080 --> 00:19:44,160
Speaker 2: have another job like taking out. Yeah, absolutely, it says

448
00:19:44,160 --> 00:19:47,080
Speaker 2: you can't have another job without written like approval and

449
00:19:47,119 --> 00:19:50,720
Speaker 2: approval or permission from your employer. But that actually might

450
00:19:50,760 --> 00:19:53,840
Speaker 2: make you a better employee. That's weird, kind of cool,

451
00:19:54,160 --> 00:19:57,040
Speaker 2: kind of interesting to see how the world is changing

452
00:19:57,080 --> 00:20:00,480
Speaker 2: as well. But it makes sense if you distill it down, like, gee,

453
00:20:00,520 --> 00:20:03,280
Speaker 2: if you're having to prioritize your full time work and

454
00:20:03,280 --> 00:20:05,960
Speaker 2: then this side hustle that you're doing and balance it all,

455
00:20:06,040 --> 00:20:08,959
Speaker 2: like you probably can find a better equilibrium than just

456
00:20:09,000 --> 00:20:11,760
Speaker 2: like being on the nine to five Monday to Fridagrant.

457
00:20:11,280 --> 00:20:15,400
Speaker 4: I actually definitely agree with that. I of a story hustle. Yeah,

458
00:20:15,760 --> 00:20:17,600
Speaker 4: but I love having a full time job and then

459
00:20:17,640 --> 00:20:19,600
Speaker 4: doing shese on the money and then having copywriting like

460
00:20:20,000 --> 00:20:22,280
Speaker 4: you're busy, but it keeps things interesting.

461
00:20:22,440 --> 00:20:24,960
Speaker 2: Yeah, And I think it's really important find those things that,

462
00:20:25,119 --> 00:20:28,360
Speaker 2: as I said before, nurish you, yeah, and actually align

463
00:20:28,440 --> 00:20:31,000
Speaker 2: to your values and keep you engaged, like that's what

464
00:20:31,040 --> 00:20:31,560
Speaker 2: life's about.

465
00:20:31,640 --> 00:20:35,440
Speaker 4: Right on that inspirational note, V, let's head to a

466
00:20:35,480 --> 00:20:37,760
Speaker 4: little break. But on the other side, we are going

467
00:20:37,800 --> 00:20:40,560
Speaker 4: to be talking about all the tax implications. So don't

468
00:20:40,560 --> 00:20:48,000
Speaker 4: go anywhere, guys. Already, guys, we are back. But before

469
00:20:48,080 --> 00:20:50,399
Speaker 4: we go any further, we're actually going to have a

470
00:20:50,400 --> 00:20:53,040
Speaker 4: little listen to a chat V that you had with

471
00:20:53,119 --> 00:20:54,040
Speaker 4: your mate Tiffany.

472
00:20:54,600 --> 00:20:57,520
Speaker 2: All right, we are going to talk about TIF the

473
00:20:57,600 --> 00:21:00,760
Speaker 2: time you found yourself in a bit of a tax pickle. Yes,

474
00:21:00,840 --> 00:21:04,040
Speaker 2: can you tell us about what happened? Well, I was

475
00:21:04,400 --> 00:21:07,119
Speaker 2: Uber driving. I had lost my job. I needed a

476
00:21:07,119 --> 00:21:10,080
Speaker 2: new job. Uber seemed like the way to go. It's

477
00:21:10,119 --> 00:21:10,840
Speaker 2: pretty convenient.

478
00:21:10,920 --> 00:21:11,960
Speaker 5: It is very convenient.

479
00:21:12,000 --> 00:21:14,560
Speaker 6: I had just got myself a new car, so I'm like, oh,

480
00:21:14,600 --> 00:21:15,880
Speaker 6: this will be a really great way.

481
00:21:15,720 --> 00:21:17,320
Speaker 5: To also help pay off my car.

482
00:21:17,720 --> 00:21:23,119
Speaker 6: So I was Uber driving probably full time for about

483
00:21:23,400 --> 00:21:26,000
Speaker 6: four or five months. And when I say full time,

484
00:21:26,040 --> 00:21:28,880
Speaker 6: I mean I was doing it as a nine to five.

485
00:21:29,200 --> 00:21:30,879
Speaker 6: So I would get up, I will jump in my

486
00:21:31,000 --> 00:21:33,320
Speaker 6: Uber and I will drive from nine and full five.

487
00:21:33,400 --> 00:21:35,520
Speaker 2: Well I didn't realize it was that much.

488
00:21:35,920 --> 00:21:39,160
Speaker 6: Yeah, Well, because I wanted it to substitute a full

489
00:21:39,160 --> 00:21:41,960
Speaker 6: time job, you can make sense. Also then got the option,

490
00:21:42,040 --> 00:21:44,359
Speaker 6: I guess, of doing on the weekends or after hours.

491
00:21:44,400 --> 00:21:46,440
Speaker 2: All we can do whenever you want, right, Yeah.

492
00:21:46,520 --> 00:21:49,080
Speaker 6: I wanted it to kind of fit in with my

493
00:21:49,160 --> 00:21:51,640
Speaker 6: day and then also I could like go to interviews

494
00:21:51,640 --> 00:21:53,400
Speaker 6: and do all of those kind of things in order

495
00:21:53,480 --> 00:21:56,040
Speaker 6: to get myself an actual job which wasn't.

496
00:21:56,080 --> 00:21:57,320
Speaker 2: Hustle material driving.

497
00:21:57,480 --> 00:22:00,320
Speaker 6: I love it, yeah, yeah, but in order to make

498
00:22:00,359 --> 00:22:02,920
Speaker 6: money from me, but you also need to work the hours.

499
00:22:02,960 --> 00:22:05,639
Speaker 6: Like you can't just jump on for a couple of

500
00:22:05,680 --> 00:22:08,639
Speaker 6: hours and expect to make bank. Yeah, Like I was

501
00:22:08,680 --> 00:22:12,560
Speaker 6: working twelve hour days in order to make like six hundred.

502
00:22:12,320 --> 00:22:16,480
Speaker 2: Dollars a week. Oh my gosh, So it is yeah, right,

503
00:22:16,560 --> 00:22:18,119
Speaker 2: So it was a bit of a pickle.

504
00:22:18,280 --> 00:22:19,520
Speaker 5: It was a bit of a pickle.

505
00:22:19,640 --> 00:22:22,760
Speaker 6: So I was doing it, yeah, for full time for

506
00:22:22,800 --> 00:22:25,560
Speaker 6: about four or five months, and then I got a job,

507
00:22:26,320 --> 00:22:28,720
Speaker 6: so then I stopped doing it full time, and then

508
00:22:28,920 --> 00:22:30,800
Speaker 6: I was just doing it on the weekend to make

509
00:22:30,800 --> 00:22:33,160
Speaker 6: a little bit of extra cash, which is helpful, Which

510
00:22:33,200 --> 00:22:33,639
Speaker 6: is helpful.

511
00:22:33,720 --> 00:22:36,240
Speaker 2: Yeah, but that wasn't the pickle. That was a dream experience.

512
00:22:36,280 --> 00:22:38,719
Speaker 2: That was that was great. Look I've got a side hustle.

513
00:22:38,800 --> 00:22:42,280
Speaker 2: I've made money in the interim. It was the taxi

514
00:22:42,440 --> 00:22:46,080
Speaker 2: past guy. You went and got an accountant.

515
00:22:45,760 --> 00:22:49,040
Speaker 6: Yes, who my partner was seeing and seen before, so

516
00:22:49,119 --> 00:22:50,560
Speaker 6: I assumed that they were legitimate.

517
00:22:50,840 --> 00:22:51,040
Speaker 2: Yep.

518
00:22:51,200 --> 00:22:55,760
Speaker 6: Great, And I told them that I was uber driving

519
00:22:56,160 --> 00:22:58,280
Speaker 6: and she was like, how much money have you made?

520
00:22:58,640 --> 00:23:01,439
Speaker 6: And I was like, oh, about four five thousand dollars,

521
00:23:01,560 --> 00:23:04,560
Speaker 6: not a lot. Yeah, And she's like, oh, okay, no

522
00:23:04,600 --> 00:23:06,639
Speaker 6: need to worry. I'm like, what do you mean, no

523
00:23:06,720 --> 00:23:09,600
Speaker 6: need to worry. She's like, oh, it's less than ten

524
00:23:09,600 --> 00:23:12,280
Speaker 6: thousand dollars, so we can mark it down as a

525
00:23:12,359 --> 00:23:13,280
Speaker 6: hobby activity.

526
00:23:13,600 --> 00:23:15,360
Speaker 5: I'm like, oh, hang on.

527
00:23:15,400 --> 00:23:18,080
Speaker 2: You that sounds like a good money. This sounds great.

528
00:23:18,119 --> 00:23:20,440
Speaker 6: I'm like, oh, so I've just made five thousand dollars

529
00:23:20,480 --> 00:23:22,480
Speaker 6: that I don't have to declare that I don't have

530
00:23:22,520 --> 00:23:25,200
Speaker 6: to pay tax on because it's less than ten thousand

531
00:23:25,240 --> 00:23:27,920
Speaker 6: dollars and I can claim it as a hobby. I

532
00:23:28,000 --> 00:23:30,440
Speaker 6: was really nervous about that because I had not heard

533
00:23:30,440 --> 00:23:31,560
Speaker 6: about that happening at all.

534
00:23:31,880 --> 00:23:34,960
Speaker 5: Yeah, I didn't know anyone else who was in that situation.

535
00:23:35,480 --> 00:23:38,480
Speaker 6: So I asked the tax agent repeatedly, maybe four or

536
00:23:38,520 --> 00:23:41,520
Speaker 6: five times during our PU stock together, are you sure

537
00:23:41,560 --> 00:23:44,440
Speaker 6: I don't have to claim this? I planned to exactly,

538
00:23:44,480 --> 00:23:46,359
Speaker 6: and she's like, no, no, no, it's fine, you don't

539
00:23:46,440 --> 00:23:49,280
Speaker 6: have to claim it at all. I'm like, great, Okay,

540
00:23:49,320 --> 00:23:50,800
Speaker 6: five thousand dollars in my pocket.

541
00:23:51,119 --> 00:23:57,600
Speaker 2: Money win claim form went through time, went through ELDR.

542
00:23:57,760 --> 00:24:00,159
Speaker 6: Not a money win, not a money win. And it

543
00:24:00,240 --> 00:24:03,919
Speaker 6: wasn't until twelve months later. I think it was that

544
00:24:03,960 --> 00:24:06,400
Speaker 6: the ATO got in contact with me and you got

545
00:24:06,520 --> 00:24:08,919
Speaker 6: udited to No, I did get audited, and they're like,

546
00:24:09,040 --> 00:24:12,879
Speaker 6: you've been uber driving and you didn't declare any extra

547
00:24:12,960 --> 00:24:17,160
Speaker 6: earnings that you received whilst uber driving, and I panicked

548
00:24:17,440 --> 00:24:17,840
Speaker 6: you did.

549
00:24:17,880 --> 00:24:20,200
Speaker 2: And that's where I got to learn about this situation.

550
00:24:20,320 --> 00:24:23,960
Speaker 2: And I was like, Tiffany, what have you done? And

551
00:24:24,000 --> 00:24:27,560
Speaker 2: it wasn't a bad thing, especially once you'd explained it

552
00:24:27,560 --> 00:24:29,840
Speaker 2: to me. It was actually just bad advice that you'd

553
00:24:29,840 --> 00:24:30,600
Speaker 2: been given.

554
00:24:30,359 --> 00:24:31,600
Speaker 5: Because I wasn't in the wrong.

555
00:24:31,960 --> 00:24:34,760
Speaker 2: No. But at the end of the day, the thing

556
00:24:34,800 --> 00:24:38,240
Speaker 2: that was really frustrating was you got your tax returned

557
00:24:38,280 --> 00:24:40,000
Speaker 2: down and you signed off on it, and when We

558
00:24:40,080 --> 00:24:42,359
Speaker 2: went back to that accountant because I said, look, let

559
00:24:42,440 --> 00:24:44,080
Speaker 2: me help you sort this out. I sat you down,

560
00:24:44,160 --> 00:24:45,240
Speaker 2: we went through it all. I had to look at

561
00:24:45,280 --> 00:24:47,520
Speaker 2: your bass and you know, worked out what tax you

562
00:24:47,600 --> 00:24:50,679
Speaker 2: should have paid, because the ATO was obviously wanting you

563
00:24:50,720 --> 00:24:52,399
Speaker 2: to pay that. We had a chat with the ATO

564
00:24:52,640 --> 00:24:55,480
Speaker 2: and negotiated our way out of it. We didn't have

565
00:24:55,520 --> 00:24:57,879
Speaker 2: to pay any penalties, which was a money win. We

566
00:24:57,920 --> 00:25:00,199
Speaker 2: did have to pay the tax though. Went back to

567
00:25:00,200 --> 00:25:02,399
Speaker 2: the tax agent. She was like, not my circus, not

568
00:25:02,440 --> 00:25:05,560
Speaker 2: my monkeys. You signed your tax return. It is your problem.

569
00:25:05,760 --> 00:25:06,840
Speaker 2: It is not my problem.

570
00:25:07,000 --> 00:25:11,280
Speaker 6: Now she's no longer in business, surprise rising.

571
00:25:11,760 --> 00:25:14,000
Speaker 2: But I wanted to have this conversation because it's one

572
00:25:14,080 --> 00:25:17,000
Speaker 2: thing for me to do a podcast and go, hey guys,

573
00:25:17,040 --> 00:25:19,960
Speaker 2: this is really important. But from your perspective, you thought

574
00:25:20,000 --> 00:25:22,080
Speaker 2: you did absolutely everything right.

575
00:25:22,320 --> 00:25:25,199
Speaker 6: And on that, how do we know, Like if we

576
00:25:25,240 --> 00:25:27,680
Speaker 6: are going to somebody and we are trusting that they

577
00:25:27,720 --> 00:25:30,720
Speaker 6: have the right information because we're paying them for a service,

578
00:25:31,040 --> 00:25:34,480
Speaker 6: they're the person that has the knowledge what happens. Because

579
00:25:34,520 --> 00:25:36,520
Speaker 6: we can't trust them, who can we trust? Where do

580
00:25:36,560 --> 00:25:38,560
Speaker 6: we get this information from?

581
00:25:38,760 --> 00:25:40,919
Speaker 2: And I think that that's the big question here And

582
00:25:40,960 --> 00:25:44,000
Speaker 2: It's not necessarily about not trusting your accountant. That's not

583
00:25:44,040 --> 00:25:46,320
Speaker 2: this segment at all. But I really would urge you

584
00:25:46,400 --> 00:25:48,880
Speaker 2: to make sure that whatever accountant you're using, you're making

585
00:25:48,920 --> 00:25:51,080
Speaker 2: sure that they're a CPA or a CA and that

586
00:25:51,160 --> 00:25:54,040
Speaker 2: they are qualified to do what they do. But also

587
00:25:54,160 --> 00:25:56,520
Speaker 2: knowing that your gut feeling, because TI if you were

588
00:25:56,520 --> 00:25:58,760
Speaker 2: telling me, like you knew you shouldn't have been doing this,

589
00:25:58,840 --> 00:26:01,280
Speaker 2: but you were like, no, she's a rational she did it.

590
00:26:01,359 --> 00:26:03,000
Speaker 2: You signed off on it, and it was all good.

591
00:26:03,119 --> 00:26:05,920
Speaker 2: You told me that you're second guessing the situation.

592
00:26:06,280 --> 00:26:08,639
Speaker 6: You're obviously second guessing for a reason, aren't you, And

593
00:26:09,040 --> 00:26:11,120
Speaker 6: you probably should maybe get a second opinion then.

594
00:26:11,280 --> 00:26:13,480
Speaker 2: Exactly, and we don't have to pay for that second opinion.

595
00:26:13,480 --> 00:26:16,560
Speaker 2: You can actually call the ATO and ask them any question.

596
00:26:16,720 --> 00:26:18,879
Speaker 2: You can call them and be like, hey, I'm doing

597
00:26:18,880 --> 00:26:21,280
Speaker 2: my tax return. I'm so sorry to annoy you. I

598
00:26:21,320 --> 00:26:23,159
Speaker 2: did some uber driving. Do I need to declare it?

599
00:26:23,200 --> 00:26:25,960
Speaker 2: And they will say hard and fast yes, because that's

600
00:26:26,000 --> 00:26:29,200
Speaker 2: actually a job whereas there is and I'm not giving

601
00:26:29,240 --> 00:26:31,240
Speaker 2: tax advice here. You do need to talk to your

602
00:26:31,400 --> 00:26:35,199
Speaker 2: tax accountant. But when you do declare things, sometimes they

603
00:26:35,240 --> 00:26:37,680
Speaker 2: feel like doing some crochet blankets. You made fifty bucks

604
00:26:37,680 --> 00:26:39,720
Speaker 2: here and there by selling them to your friends. The

605
00:26:39,760 --> 00:26:42,000
Speaker 2: eater is like, no, keep that money, like that's actually

606
00:26:42,040 --> 00:26:44,280
Speaker 2: a hobby, that's just you doing it. So there is

607
00:26:44,440 --> 00:26:47,200
Speaker 2: actually there is actually clause. There is actually a hobby

608
00:26:47,200 --> 00:26:49,960
Speaker 2: clause in your tax return where you don't have to

609
00:26:50,000 --> 00:26:53,400
Speaker 2: declare some earnings from genuine hobbies. But I think that's

610
00:26:53,520 --> 00:26:56,359
Speaker 2: very different than going and trying to earn an income

611
00:26:56,920 --> 00:26:59,199
Speaker 2: and actually setting yourself up because you would have had

612
00:26:59,200 --> 00:27:01,919
Speaker 2: to set yourself up with the TFN through Uber.

613
00:27:01,760 --> 00:27:04,720
Speaker 6: Right, yes, yes, and I need to register myself to

614
00:27:04,800 --> 00:27:08,199
Speaker 6: as a sole trader, so I had an abnyah that

615
00:27:08,280 --> 00:27:12,040
Speaker 6: I had to input in. So I was working for

616
00:27:12,080 --> 00:27:14,359
Speaker 6: myself for self employed, I guess.

617
00:27:14,480 --> 00:27:16,720
Speaker 2: But deep down you knew that you shouldn't have been

618
00:27:16,720 --> 00:27:19,280
Speaker 2: doing it, and it was just something where you trusted

619
00:27:19,320 --> 00:27:22,240
Speaker 2: the person to do the right thing. And from my perspective,

620
00:27:22,320 --> 00:27:24,280
Speaker 2: I think the important thing here isn't about going, oh

621
00:27:24,280 --> 00:27:26,520
Speaker 2: my god, here we are to talk about Uber. It's

622
00:27:26,560 --> 00:27:29,560
Speaker 2: actually just trust your gut, like, do the right thing,

623
00:27:29,760 --> 00:27:32,479
Speaker 2: declare the things that you have to declare, and if

624
00:27:32,520 --> 00:27:35,240
Speaker 2: you're in a bit of a pickle over declare yes

625
00:27:35,480 --> 00:27:38,840
Speaker 2: over toclaire. You would much prefer to say, hey, I

626
00:27:38,920 --> 00:27:42,840
Speaker 2: made fifty bucks from crocheting some blankets or selling some

627
00:27:42,960 --> 00:27:46,040
Speaker 2: doll house furniture I made and put on Facebook marketplace

628
00:27:46,320 --> 00:27:48,640
Speaker 2: during lockdown, which I had a friend do. I got

629
00:27:48,680 --> 00:27:52,080
Speaker 2: wildly successful. By the way, I think that borderline might

630
00:27:52,119 --> 00:27:53,480
Speaker 2: not actually be a hobby for her.

631
00:27:53,600 --> 00:27:54,760
Speaker 5: It's now it's now her job.

632
00:27:54,760 --> 00:27:57,280
Speaker 2: It's now a full blown job. But it's about trusting

633
00:27:57,320 --> 00:28:00,680
Speaker 2: your judgment and trusting your gut and noting that there

634
00:28:00,720 --> 00:28:03,680
Speaker 2: are other resources to look at, Like the ATO posts

635
00:28:04,119 --> 00:28:07,240
Speaker 2: so much information about what you can and can't declare

636
00:28:07,560 --> 00:28:11,000
Speaker 2: every year. Smarter Money puts some information on their website

637
00:28:11,040 --> 00:28:13,199
Speaker 2: about what you can and can't claim, Like there's so

638
00:28:13,359 --> 00:28:16,120
Speaker 2: much stuff out there. So regardless of whether you're using

639
00:28:16,200 --> 00:28:18,840
Speaker 2: a tax agent to do your tax return this year

640
00:28:19,320 --> 00:28:21,439
Speaker 2: or you are doing it yourself, I think it's just

641
00:28:21,480 --> 00:28:24,800
Speaker 2: hard and fast. Be truthful. They don't lie, don't claim

642
00:28:24,800 --> 00:28:28,360
Speaker 2: things that you aren't meant to claim, because nowadays, it's

643
00:28:28,400 --> 00:28:31,040
Speaker 2: not the nineteen sixties anymore, where they just can't prove it.

644
00:28:31,080 --> 00:28:32,760
Speaker 2: And if they order you, you've got to go find

645
00:28:32,800 --> 00:28:35,440
Speaker 2: all your paper receipt to have receipts for everything. Now

646
00:28:35,480 --> 00:28:39,160
Speaker 2: in twenty twenty two, everything's data matched. The ATO knows

647
00:28:39,240 --> 00:28:42,360
Speaker 2: they have access to your bank accounts. It's kind of

648
00:28:42,400 --> 00:28:45,320
Speaker 2: worderline terrifying. At the same time, As for me as

649
00:28:45,320 --> 00:28:47,240
Speaker 2: a financial advice I kind of love it because I'm like,

650
00:28:47,440 --> 00:28:50,920
Speaker 2: how easy the data matching here is absolutely fantastic.

651
00:28:50,920 --> 00:28:53,000
Speaker 5: If you're a PERV anyway with all money pack.

652
00:28:52,920 --> 00:28:55,040
Speaker 2: Yeah, and I don't mind. And I mean I have

653
00:28:55,040 --> 00:28:57,880
Speaker 2: a legitimate business, so I'm like, what am I hiding?

654
00:28:57,880 --> 00:29:00,400
Speaker 2: What are you going to see that I do some

655
00:29:00,480 --> 00:29:05,720
Speaker 2: financial advice? Wow? Revolutionary. So I'm not worried about it.

656
00:29:05,800 --> 00:29:08,040
Speaker 2: But I think the real question here is if you

657
00:29:08,080 --> 00:29:10,000
Speaker 2: are worried about it, like be doing the right thing

658
00:29:10,080 --> 00:29:14,480
Speaker 2: or ah. Anyway, Tiff, let's go have coffee because we

659
00:29:14,480 --> 00:29:15,720
Speaker 2: should get back to the actual show.

660
00:29:15,880 --> 00:29:17,440
Speaker 5: Sounds amazing. V.

661
00:29:18,000 --> 00:29:19,880
Speaker 4: That was a horror show, Mate.

662
00:29:19,920 --> 00:29:21,400
Speaker 2: It was a little bit of a mess, a little

663
00:29:21,400 --> 00:29:24,840
Speaker 2: bit of a night mare. I feel really bad because

664
00:29:25,000 --> 00:29:28,040
Speaker 2: Tiff is one of my greatest friends. Yeah, but also

665
00:29:28,840 --> 00:29:31,200
Speaker 2: just that she puts so much trust in an accountant

666
00:29:31,400 --> 00:29:33,120
Speaker 2: that did the wrong thing by her.

667
00:29:33,240 --> 00:29:34,760
Speaker 4: How can they give you the wrong advice?

668
00:29:34,920 --> 00:29:36,520
Speaker 2: Look, I think she just you don't know what you

669
00:29:36,560 --> 00:29:38,360
Speaker 2: don't know, and that's why it's really important to kind

670
00:29:38,400 --> 00:29:41,080
Speaker 2: of second guess things and go with your gut and understand.

671
00:29:41,520 --> 00:29:43,760
Speaker 2: You know that you can seek a second opinion or

672
00:29:43,800 --> 00:29:45,880
Speaker 2: a third opinion or whatever you want to do. And

673
00:29:45,960 --> 00:29:47,520
Speaker 2: at the end of the day, she did end up

674
00:29:47,560 --> 00:29:50,280
Speaker 2: in a better position. We were able to liaise with

675
00:29:50,360 --> 00:29:52,280
Speaker 2: the ATO and talk to them about it and they

676
00:29:52,280 --> 00:29:54,080
Speaker 2: were like, Okay, cool, no problems, we can see how

677
00:29:54,120 --> 00:29:56,440
Speaker 2: this went wrong. Let's just clean it all up. And

678
00:29:56,440 --> 00:29:58,240
Speaker 2: we did and it was fine. But it's one of

679
00:29:58,280 --> 00:30:00,480
Speaker 2: those things that it's just really stressful and I really

680
00:30:00,520 --> 00:30:04,120
Speaker 2: wanted to include that in today's show because it's not

681
00:30:04,200 --> 00:30:06,880
Speaker 2: just me going this is important. It's me going, hey,

682
00:30:06,920 --> 00:30:09,720
Speaker 2: here's a very real, very true example from someone who

683
00:30:09,800 --> 00:30:12,240
Speaker 2: is very deeply ingrained in Now she's on the money community.

684
00:30:12,400 --> 00:30:14,720
Speaker 2: You've probably sent on every money win thread ever because

685
00:30:14,720 --> 00:30:17,440
Speaker 2: she always has great money wins and it's so rude.

686
00:30:17,640 --> 00:30:19,880
Speaker 2: But it's one of those things where just listen to Tiff,

687
00:30:19,960 --> 00:30:21,840
Speaker 2: this is her story, this is how it works. These

688
00:30:21,840 --> 00:30:24,920
Speaker 2: are real people from our real community who are going

689
00:30:24,960 --> 00:30:27,880
Speaker 2: through things that you could avoid just by listening to

690
00:30:27,880 --> 00:30:28,480
Speaker 2: a podcast.

691
00:30:29,200 --> 00:30:34,280
Speaker 4: Does the accountant, coop anything or are they covered by

692
00:30:34,280 --> 00:30:34,800
Speaker 4: an insurance?

693
00:30:34,840 --> 00:30:35,240
Speaker 1: No?

694
00:30:35,240 --> 00:30:38,000
Speaker 2: No, no, no. So when you sign off on your tax

695
00:30:38,080 --> 00:30:42,960
Speaker 2: return g you're taking responsibility. So even though your accountant

696
00:30:43,120 --> 00:30:45,560
Speaker 2: prepared it in full and is being paid and is

697
00:30:45,600 --> 00:30:48,800
Speaker 2: being paid for that service, you then got given your

698
00:30:48,840 --> 00:30:51,800
Speaker 2: tax return paper, you would have reviewed it and signed it,

699
00:30:51,840 --> 00:30:54,600
Speaker 2: and that's then you taking complete responsibility for it. So

700
00:30:54,640 --> 00:30:57,960
Speaker 2: there's no responsibility on that accountant. From my understanding, that

701
00:30:57,960 --> 00:31:00,480
Speaker 2: accountant is no longer an accountant, So don't worry you, guys.

702
00:31:00,760 --> 00:31:03,000
Speaker 2: We were completely safe from that one. But it's just

703
00:31:03,240 --> 00:31:05,480
Speaker 2: so important to remember that at the end of the day,

704
00:31:05,480 --> 00:31:07,920
Speaker 2: the buck actually stops with you. You can't just outsource

705
00:31:07,960 --> 00:31:10,080
Speaker 2: it to an account and be like whatever, it'll be fine,

706
00:31:10,160 --> 00:31:12,640
Speaker 2: Like yes, it usually ninety nine point nine five percent

707
00:31:12,640 --> 00:31:14,800
Speaker 2: of the time is. But it's always about trusting your

708
00:31:14,800 --> 00:31:16,680
Speaker 2: gut and if you don't feel right about something, which

709
00:31:16,720 --> 00:31:18,440
Speaker 2: you heard from Ti. If she didn't feel right, but

710
00:31:18,480 --> 00:31:20,920
Speaker 2: she was like, oh, she would know, like she's an accountant.

711
00:31:21,560 --> 00:31:24,120
Speaker 2: When it finally came back to bite her, thankfully she

712
00:31:24,280 --> 00:31:27,920
Speaker 2: had me, who's not an accountant but knows. Okay, let's

713
00:31:27,920 --> 00:31:29,440
Speaker 2: just deal with this, and we did end up getting

714
00:31:29,440 --> 00:31:31,400
Speaker 2: another account involved and getting it all cleaned up, and

715
00:31:31,440 --> 00:31:33,960
Speaker 2: it was so fine. But it's one of those things

716
00:31:34,000 --> 00:31:36,520
Speaker 2: where that was really stressful and you can avoid that.

717
00:31:36,680 --> 00:31:39,560
Speaker 4: Yeah, brilliant. Okay, Phee, Let's move on and talk about

718
00:31:39,560 --> 00:31:44,360
Speaker 4: some intimidating things. I'm talking bass, I'm talking GST, sexy.

719
00:31:45,080 --> 00:31:47,320
Speaker 4: What point in our journey do we need to register

720
00:31:47,560 --> 00:31:49,840
Speaker 4: for GST and how much should we be putting aside?

721
00:31:50,000 --> 00:31:51,560
Speaker 2: All right, let's start with how much you should be

722
00:31:51,560 --> 00:31:54,920
Speaker 2: putting aside, And a general goal or rule of thumb

723
00:31:54,960 --> 00:31:57,520
Speaker 2: is usually between twenty and thirty percent of your income

724
00:31:57,840 --> 00:32:01,280
Speaker 2: to a second bank account for tax in GST. So

725
00:32:01,680 --> 00:32:05,000
Speaker 2: GST is ten percent. It is goods and services tax,

726
00:32:05,160 --> 00:32:08,400
Speaker 2: And from my perspective, it's very left pocket right pocket,

727
00:32:08,400 --> 00:32:11,160
Speaker 2: Like if you are charging GST, you just put that

728
00:32:11,240 --> 00:32:13,720
Speaker 2: money aside and then it goes and gets paid. And

729
00:32:13,800 --> 00:32:16,479
Speaker 2: then if you are paying GST, you put that aside

730
00:32:16,480 --> 00:32:19,320
Speaker 2: and it gets reclaimed. So it's very left pocket, right pocket.

731
00:32:19,440 --> 00:32:21,280
Speaker 2: But it can feel like a lot. But a lot

732
00:32:21,280 --> 00:32:24,080
Speaker 2: of small businesses don't register for GST up front. They

733
00:32:24,120 --> 00:32:27,000
Speaker 2: actually register for it once they hit that seventy five

734
00:32:27,080 --> 00:32:30,240
Speaker 2: thousand dollars turnover point. So that's the point at which

735
00:32:30,240 --> 00:32:33,160
Speaker 2: you need to register for GST, but you can actually

736
00:32:33,280 --> 00:32:35,560
Speaker 2: charge GST from day dot if you register and you

737
00:32:35,640 --> 00:32:38,040
Speaker 2: want to start charging it, which for a lot of

738
00:32:38,040 --> 00:32:40,560
Speaker 2: small businesses they do lean into that because then there's

739
00:32:40,600 --> 00:32:43,360
Speaker 2: no like, once you hit a certain amount of revenue,

740
00:32:43,480 --> 00:32:47,360
Speaker 2: they don't have to reset expectations. With excietly and with freelancers.

741
00:32:47,400 --> 00:32:50,680
Speaker 2: This can actually lean into being quite a good way

742
00:32:51,640 --> 00:32:55,640
Speaker 2: to like establish reliability in a way like if you're

743
00:32:55,720 --> 00:32:58,440
Speaker 2: charging GST, your client's automatically going to assume you earn

744
00:32:58,480 --> 00:33:01,320
Speaker 2: more than seventy five thousand. Yes, it also means that

745
00:33:01,360 --> 00:33:03,080
Speaker 2: once you do hit that mark, you don't have to

746
00:33:03,120 --> 00:33:05,080
Speaker 2: re establish with a client and be like, hey, client,

747
00:33:05,480 --> 00:33:08,240
Speaker 2: just so you know, next month's invoice is going to

748
00:33:08,240 --> 00:33:10,520
Speaker 2: have an additional ten percent on it, because to the

749
00:33:10,600 --> 00:33:12,760
Speaker 2: client that just feels like they're paying an extra ten

750
00:33:12,800 --> 00:33:17,040
Speaker 2: percent and they're being like negatively impacted, Whereas sometimes people

751
00:33:17,160 --> 00:33:19,760
Speaker 2: might want to set that expectation from the very beginning

752
00:33:19,800 --> 00:33:22,640
Speaker 2: and it's all very easy. So I think it's about

753
00:33:22,760 --> 00:33:26,360
Speaker 2: understanding what that means. I would also here plug my

754
00:33:26,480 --> 00:33:29,160
Speaker 2: other podcast to the Business Bible if you haven't already

755
00:33:29,160 --> 00:33:30,800
Speaker 2: listened to that, and you are a side hustler, or

756
00:33:30,840 --> 00:33:33,040
Speaker 2: a small business owner or even a big business owner,

757
00:33:33,280 --> 00:33:35,640
Speaker 2: I would say that that's a very good place to start,

758
00:33:35,920 --> 00:33:38,080
Speaker 2: because not only do we go through all of those

759
00:33:38,120 --> 00:33:40,640
Speaker 2: structures and what your obligations are, but there is a

760
00:33:40,680 --> 00:33:44,320
Speaker 2: specific episode where I actually go through my personal banking

761
00:33:44,400 --> 00:33:48,040
Speaker 2: structure and explain which bank accounts I have, why and

762
00:33:48,080 --> 00:33:50,200
Speaker 2: how much are money I put in each of those.

763
00:33:50,400 --> 00:33:52,760
Speaker 2: And I think that that can be quite powerful, because

764
00:33:53,160 --> 00:33:55,880
Speaker 2: if you have the right structure set up, your business

765
00:33:55,920 --> 00:33:58,680
Speaker 2: flows so much easier. George, Like, if you're a small

766
00:33:58,680 --> 00:34:01,000
Speaker 2: business owner and you only have one account and all

767
00:34:01,040 --> 00:34:03,360
Speaker 2: your money comes in there, and you're paying your GST

768
00:34:03,440 --> 00:34:06,040
Speaker 2: and your BASS, and you're paying your salaries and you're

769
00:34:06,040 --> 00:34:08,080
Speaker 2: paying for all your expenses from that, it can get

770
00:34:08,160 --> 00:34:11,120
Speaker 2: quite murky. Whereas if we have a few different accounts

771
00:34:11,160 --> 00:34:13,279
Speaker 2: and we're actually putting thirty percent of our income into

772
00:34:13,320 --> 00:34:15,640
Speaker 2: there for tax. When tax time comes, not only do

773
00:34:15,719 --> 00:34:18,120
Speaker 2: we have enough money to pay tax and we don't

774
00:34:18,160 --> 00:34:20,800
Speaker 2: have to blink an eye, but usually there are refunds

775
00:34:20,840 --> 00:34:22,279
Speaker 2: on top of that, so we end up in a

776
00:34:22,280 --> 00:34:24,560
Speaker 2: better position where tax time comes and it's not as

777
00:34:24,560 --> 00:34:26,400
Speaker 2: painful as it could be. In fact, you're kind of

778
00:34:26,400 --> 00:34:28,320
Speaker 2: looking forward to tax time because you know there's probably

779
00:34:28,320 --> 00:34:29,719
Speaker 2: a bit of a refund there and you're like, oh,

780
00:34:29,760 --> 00:34:32,040
Speaker 2: if I get that done, like everything will be much

781
00:34:32,040 --> 00:34:33,719
Speaker 2: easier and I'll probably have a few grand in my

782
00:34:33,760 --> 00:34:36,080
Speaker 2: back pocket that I could spend on something else. So

783
00:34:36,120 --> 00:34:40,000
Speaker 2: I think it's important to understand what that means and

784
00:34:40,040 --> 00:34:42,440
Speaker 2: how it works. But to add to that, if you're

785
00:34:42,480 --> 00:34:45,359
Speaker 2: a taxi driver or an uber driver, you actually charge

786
00:34:45,400 --> 00:34:48,080
Speaker 2: GST the entire way, regardless of what you have ever earned.

787
00:34:48,360 --> 00:34:51,000
Speaker 2: And then if you're a nonprofit organization with an annual

788
00:34:51,040 --> 00:34:53,479
Speaker 2: turnover of more than one hundred and fifty thousand, that's

789
00:34:53,520 --> 00:34:56,600
Speaker 2: your GST thresholds instead of the seventy five. And then

790
00:34:56,640 --> 00:34:58,400
Speaker 2: if you're a business and you are a bit smaller

791
00:34:58,400 --> 00:35:00,000
Speaker 2: and you're like, yes, but v I also want to

792
00:35:00,080 --> 00:35:02,480
Speaker 2: claim fuel tax credits, you do have to be registered

793
00:35:02,480 --> 00:35:06,319
Speaker 2: for GST. And then international retailers with Australian sales of

794
00:35:06,320 --> 00:35:09,120
Speaker 2: more than seventy five thousand also fall into that bucket

795
00:35:09,160 --> 00:35:11,880
Speaker 2: as well. So as I said before, if your annual

796
00:35:11,880 --> 00:35:14,239
Speaker 2: turnover is under that threshold, you can still register if

797
00:35:14,239 --> 00:35:16,640
Speaker 2: you want. There are obviously benefits for it. But the

798
00:35:16,680 --> 00:35:18,480
Speaker 2: thing I would do is actually just chat to your

799
00:35:18,480 --> 00:35:21,279
Speaker 2: accountant about what structure would work for you. And if

800
00:35:21,280 --> 00:35:24,160
Speaker 2: you are a small business owner, even just sitting down

801
00:35:24,200 --> 00:35:26,080
Speaker 2: with an accountant as a big one, so off like,

802
00:35:26,160 --> 00:35:27,680
Speaker 2: how do I do this? What does this look like?

803
00:35:27,760 --> 00:35:30,400
Speaker 2: It's going to pay dividends? I promise it will be

804
00:35:30,440 --> 00:35:31,560
Speaker 2: a very important meeting.

805
00:35:31,640 --> 00:35:34,680
Speaker 4: Are there any other benefits to registering v lord?

806
00:35:34,800 --> 00:35:37,479
Speaker 2: Look, once you're registered for GST, you don't actually pay

807
00:35:37,560 --> 00:35:40,080
Speaker 2: GST on business expenses. So that's where I said, it's

808
00:35:40,080 --> 00:35:42,960
Speaker 2: like left pocket, right pocket. If you're registered for it,

809
00:35:43,000 --> 00:35:44,880
Speaker 2: you can claim it, which is kind of cool. So

810
00:35:44,920 --> 00:35:48,400
Speaker 2: you'll still get charge GST on invoices and you'll still

811
00:35:48,440 --> 00:35:51,319
Speaker 2: have to pay it. But when tax time comes and

812
00:35:51,320 --> 00:35:53,319
Speaker 2: you file your tax return with the ATO, you get

813
00:35:53,360 --> 00:35:54,640
Speaker 2: that back, so that's kind of cool.

814
00:35:54,960 --> 00:35:56,560
Speaker 4: And what do I need to register?

815
00:35:56,719 --> 00:35:59,920
Speaker 2: You need an ABN, my friend to an Australian business number. However,

816
00:36:00,040 --> 00:36:02,719
Speaker 2: if you're registering as company, then you'll need an Australian

817
00:36:02,920 --> 00:36:05,560
Speaker 2: company number, which is called an ACN before you apply

818
00:36:05,640 --> 00:36:08,759
Speaker 2: for an ABN, and then after GST registration, all you

819
00:36:08,800 --> 00:36:10,920
Speaker 2: need to do is add GST to the prices that

820
00:36:10,960 --> 00:36:13,920
Speaker 2: you are charging, issue tax invoices to your customers, keep

821
00:36:13,960 --> 00:36:16,319
Speaker 2: receipts and invoices to claim back all the GST that

822
00:36:16,320 --> 00:36:18,880
Speaker 2: you've paid on business expenses that year, and then submit

823
00:36:18,920 --> 00:36:21,880
Speaker 2: a business act. We're going pretty deep into the Business

824
00:36:21,880 --> 00:36:23,560
Speaker 2: Bible side of things, so let's move to the next

825
00:36:23,640 --> 00:36:26,200
Speaker 2: question again. If you haven't listened to the Business Bible,

826
00:36:26,280 --> 00:36:29,160
Speaker 2: I absolutely would because I'm really biased. I thought it

827
00:36:29,200 --> 00:36:32,000
Speaker 2: was great. It certainly was also coming back. So is

828
00:36:32,040 --> 00:36:34,319
Speaker 2: it when probably later this year, wonderful once I've got

829
00:36:34,320 --> 00:36:36,760
Speaker 2: the property playbook under control and that one's back perfect.

830
00:36:36,960 --> 00:36:39,440
Speaker 2: Just a few things the Queen of biting off more

831
00:36:39,440 --> 00:36:40,000
Speaker 2: than I can say.

832
00:36:41,640 --> 00:36:44,400
Speaker 4: I mentioned bass earlier, but I didn't know what it meant.

833
00:36:44,520 --> 00:36:45,480
Speaker 2: Bass is sexy.

834
00:36:45,640 --> 00:36:46,480
Speaker 4: What is it?

835
00:36:46,480 --> 00:36:49,360
Speaker 2: It is a business activity statement. So a business activity

836
00:36:49,360 --> 00:36:51,680
Speaker 2: statement is a form that you fill out between one

837
00:36:51,719 --> 00:36:54,520
Speaker 2: and twelve times a year. So it completely depends I

838
00:36:54,600 --> 00:36:56,840
Speaker 2: do bass and I do bam bass quarterly, so that

839
00:36:56,920 --> 00:36:59,520
Speaker 2: means that I do four bass statements each and every

840
00:36:59,600 --> 00:37:02,120
Speaker 2: single Yeah, And it really depends on your business side

841
00:37:02,160 --> 00:37:04,480
Speaker 2: as to how often you do this and when you

842
00:37:04,520 --> 00:37:07,880
Speaker 2: do this. But basically the ATO uses the information that

843
00:37:07,920 --> 00:37:10,239
Speaker 2: you provide on your bas to work out how much

844
00:37:10,320 --> 00:37:12,960
Speaker 2: GST you might have to pay or how much or

845
00:37:12,960 --> 00:37:15,560
Speaker 2: of a refund you might get. And it's also used

846
00:37:15,560 --> 00:37:17,600
Speaker 2: for like pay as you go tax. So for all

847
00:37:17,640 --> 00:37:20,640
Speaker 2: of my employees, it means that I get to say

848
00:37:20,640 --> 00:37:23,040
Speaker 2: to the ATO a few times a year, this is

849
00:37:23,080 --> 00:37:24,800
Speaker 2: what I've done, this is how much money I'm earning,

850
00:37:24,800 --> 00:37:26,719
Speaker 2: this is how much money is coming in and out

851
00:37:26,719 --> 00:37:29,160
Speaker 2: and how it works, which means I can be more

852
00:37:29,200 --> 00:37:32,120
Speaker 2: on top of my tax. So I don't just wait

853
00:37:32,200 --> 00:37:34,880
Speaker 2: until June thirty to do a big tax refund or

854
00:37:34,960 --> 00:37:38,279
Speaker 2: a big tax submission. I actually do it throughout the year,

855
00:37:38,520 --> 00:37:40,520
Speaker 2: and it means I actually pre pay a lot of

856
00:37:40,520 --> 00:37:42,520
Speaker 2: my tax and then we do a big kind of

857
00:37:42,600 --> 00:37:44,880
Speaker 2: audit at June thirty and go did I pay the

858
00:37:44,920 --> 00:37:46,680
Speaker 2: right amount? Is there anything I need to make up?

859
00:37:46,800 --> 00:37:49,839
Speaker 2: Or do I get a refund? So for me, I

860
00:37:49,920 --> 00:37:53,000
Speaker 2: personally quite enjoy a bus and I enjoy it because

861
00:37:53,000 --> 00:37:55,239
Speaker 2: I feel like I'm on top of my business consistently.

862
00:37:55,520 --> 00:37:58,000
Speaker 2: But I also really enjoy it because it means that

863
00:37:58,040 --> 00:37:59,920
Speaker 2: I don't just get a really big tax bility the

864
00:38:00,080 --> 00:38:00,600
Speaker 2: end of the year.

865
00:38:00,960 --> 00:38:05,240
Speaker 4: I just realized that I do use bass. I pay quarterly,

866
00:38:05,360 --> 00:38:09,000
Speaker 4: you pay quarter go she's on the money. Check you out,

867
00:38:09,600 --> 00:38:12,360
Speaker 4: lordy lord, So what information do I need for my bass?

868
00:38:12,400 --> 00:38:14,279
Speaker 2: So you'll need to collect a record of how much

869
00:38:14,360 --> 00:38:17,360
Speaker 2: GST you collected on sales and how much was paid

870
00:38:17,360 --> 00:38:20,120
Speaker 2: on purchases. You won't need to submit your taxing voices

871
00:38:20,120 --> 00:38:21,960
Speaker 2: when you lodge your bus. You just need to kind

872
00:38:21,960 --> 00:38:23,839
Speaker 2: of like have them on hand, so it's not as

873
00:38:23,880 --> 00:38:26,239
Speaker 2: official as a tax return. It's not like you're doing

874
00:38:26,280 --> 00:38:28,160
Speaker 2: that all the time. You're just letting them know how

875
00:38:28,160 --> 00:38:31,080
Speaker 2: many dollars you've made and vice versa, and the ATO

876
00:38:31,200 --> 00:38:33,080
Speaker 2: might us to see them later. As we said, don't

877
00:38:33,120 --> 00:38:35,799
Speaker 2: claim things that you haven't actually done. But because your

878
00:38:35,840 --> 00:38:38,200
Speaker 2: bus is usually used for other tax reasons, you're probably

879
00:38:38,239 --> 00:38:40,320
Speaker 2: going to need to pride extra information on your business.

880
00:38:40,400 --> 00:38:42,520
Speaker 2: You income, any employees, and it's linked to the ATO

881
00:38:42,600 --> 00:38:44,439
Speaker 2: and stuff. So it's actually, I think it's pretty cool.

882
00:38:44,440 --> 00:38:46,840
Speaker 2: I think it's pretty sexy. This is pretty business focused.

883
00:38:47,120 --> 00:38:49,359
Speaker 2: But I hope that even if you're not a business owner,

884
00:38:49,400 --> 00:38:50,879
Speaker 2: you listen to this and you're like, oh, that's kind

885
00:38:50,880 --> 00:38:54,120
Speaker 2: of cool that businesses have that flexibility to like pay

886
00:38:54,239 --> 00:38:57,080
Speaker 2: tax more consistently, so that they don't end up really

887
00:38:57,080 --> 00:38:59,240
Speaker 2: overwhelmed at tax tax And it's kind.

888
00:38:59,080 --> 00:39:01,560
Speaker 4: Of cool, absolutely and just really important to remember that

889
00:39:01,640 --> 00:39:03,480
Speaker 4: if you are starting a side hustle that you need

890
00:39:03,520 --> 00:39:04,239
Speaker 4: to pay tax on it.

891
00:39:04,360 --> 00:39:06,720
Speaker 2: Yeah, and there's lots of different structures that can actually

892
00:39:06,800 --> 00:39:08,799
Speaker 2: help you and support you and make sure that it's

893
00:39:08,840 --> 00:39:11,680
Speaker 2: not all overwhelming at tax time, like the business Bible,

894
00:39:11,800 --> 00:39:12,480
Speaker 2: Go Go go, my.

895
00:39:12,440 --> 00:39:14,359
Speaker 4: Friends, stunning faith. Let's leave it there.

896
00:39:14,400 --> 00:39:16,120
Speaker 2: Oh my god. Well, I guess that's all we have

897
00:39:16,120 --> 00:39:17,640
Speaker 2: time for today, So can you wrap the boring but

898
00:39:17,680 --> 00:39:18,279
Speaker 2: important stuff?

899
00:39:18,320 --> 00:39:20,560
Speaker 4: The advice shared on She's on the Money is general

900
00:39:20,640 --> 00:39:24,000
Speaker 4: in nature and does not consider your individual circumstances. She's

901
00:39:24,040 --> 00:39:27,160
Speaker 4: on the Money exists purely for educational purposes and should

902
00:39:27,239 --> 00:39:29,360
Speaker 4: not be relied upon to make an investment or a

903
00:39:29,360 --> 00:39:33,319
Speaker 4: financial decision. Never and we promise Victoria Divine and She's

904
00:39:33,360 --> 00:39:36,719
Speaker 4: on the Money are authorized representatives of in Focused Securities

905
00:39:36,719 --> 00:39:40,960
Speaker 4: Australia Before Limited ABN four seven zero nine seven seven

906
00:39:41,040 --> 00:39:43,759
Speaker 4: nine seven zero four nine AFSL two three six five

907
00:39:43,840 --> 00:39:45,680
Speaker 4: two three. We'll see you on Friday, guy.

908
00:39:45,520 --> 00:39:47,839
Speaker 2: I'd see Lady j Sorriah wasn't paying attention to that.

909
00:39:47,880 --> 00:39:50,160
Speaker 2: I just realized I had food on my top to

910
00:39:50,239 --> 00:40:03,200
Speaker 2: see it A Friday bye