G'day folks,
When photography is a hobby that occasionally makes money in your spare time from stock, portrait shoots, events etc, what are the pros / cons of registering a company and putting your income and expenses through it?
I'm spending a few $ on nice gear like everyone else here, and wondering whether I could make any of it tax-deductible by putting it through a business while I'm still on the payroll as a regular employee in a job that has nothing to do with photography. I guess it can't be as easy at that, otherwise everyone would be creating companies and putting cars, property and everything else through them, but I'm keen to learn how those of you who are semi-pro / earning an income from photography while still doing regular salaried work in another industry handle your finances.
FWIW, I'm in Australia...