The Australia Taxation Office said it will be cracking down on influencers who don’t claim non-cash payments as income after sharing posts with the hashtag ‘gifted’<\/p>\n<\/div>\n

A\u00a0high-profile accounting executive said the upcoming ‘game-changing’ policies will have many influencers rethinking whether ‘gifts’ are worth the extra tax.<\/p>\n

‘It is well and good to walk around with a $5,000 handbag but if you can’t afford the tax, what is the point? It is a game-changer that will have influencers rethinking the situation,’ they said.<\/p>\n

A celebrity agent agreed, adding\u00a0‘the gravy train is over for influencers’ who can’t afford to pay cash for expensive presents.<\/p>\n

‘A crackdown will take a much-needed weed whacker to the infestations of wannabe Kardashians of late,’ the agent said.<\/p>\n

However, Sydney-based actor and influencer Suzan Mutesi said it could be difficult for some influencers to determine the value of their gifts.<\/p>\n

She said many non-cash payments given to influencers can be sample designs that were never intended to be sold, goods made specifically for them or invitations to exclusive holidays and events.<\/p>\n<\/div>\n

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