Do i have to pay tax on my donations?

[Venom]

so do i have to pay it on the donations my forums recive? i live in the UK.

also what type of paypal acount do i need?<br /><br />-- 07 Nov 2012, 23:06 --<br /><br />help.. anyone?...

 

[Nuke]

I believe that if your income exceeds some number, you must pay taxes. However, note that it is based on all income, not just on your donations!

 

[master412160]

[user]Nuke[/user] do you mean income you make from your sites or from a real life job to?

 

[Venom]

well i dont have a income as i go to school so i guess i dont have to pay it.

 

[bauss]

I believe that if your income exceeds some number, you must pay taxes. However, note that it is based on all income, not just on your donations!

Yes that is true, I've heard that too. I'd just like to know the number so I can prepare myself for the day I start paying taxes from my website income.

 

[Nathan]

Not sure about the UK, but in Australia donations are tax deductible..

 

[Sam]

Unless you have a charitable organization, your donations are part of your income and should be taxed accordingly. Of course, if you keep the income you earn online and invest it into other stuff you won't be picked up by the tax department.