Do I have to pay tax on income from a side hustle or freelance work?

Yes, income from freelance or self-employed work is generally taxable from the first dollar, and there is no tax-free threshold based on a minimum earning level, under the Income Tax Act 2007. You need to keep records of your income and any deductible expenses, and you may need to register for GST if your turnover, or expected turnover, exceeds the GST registration threshold, currently 60,000 dollars in a 12-month period. If not registered for GST, you still must declare the net income in your annual tax return, and pay provisional tax during the year if your residual tax exceeds the threshold. Keep receipts, use a separate bank account if practical, and set aside a proportion of income for tax. A tax agent can help you determine whether to register for GST and set up simple bookkeeping practices.