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Discover the key differences between a hobby and a business in our latest video, "Hobby vs Business: Tax Tips You Need to Know!" We dive deep into what defines a hobby, which is all about personal enjoyment, versus a business that aims for profit. Learn how the Australian Taxation Office (ATO) distinguishes between the two and what factors they consider, such as intention to profit and operational scale.

Plus, find out if you can claim a hobby as a tax deduction — spoiler alert: you can't! Join us for essential insights that can save you from potential tax headaches. Don't forget to like and share this video for more valuable tips!

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00:00:00 Hobby vs Business: Tax Tips You Need to Know!