OnlyFans Model Annie Knight Faces Hefty Tax Bill
Annie Knight, an Australian model known for her work on OnlyFans, has publicly voiced her concerns after facing a substantial tax bill. Knight, who is from Australia's Gold Coast, encountered a six-figure tax bill after her earnings on the platform reached AU$2 million (about USD $1,347,010) in a single year. The model was left shocked and distressed when she was handed a tax invoice of AU$592,122.30 (approximately USD $398,797).
Financial Impact of Tax Regulations on High Earners
The significant tax bill, which Knight said was enough to buy a house, underscores the financial realities faced by high earners, particularly in unique professions like content creation. Expressing her frustration, Knight said, "It sucks that I could literally buy a house with that money, but also, I get we all have to pay our taxes." She added, critiquing the current tax structure, "I just wish we didn’t get punished for earning more money than other people. I think the highest tax bracket should be 30 percent for individuals."
Australia's Tax Brackets for High-Income Earners
In Australia, tax brackets scale with income. For earnings over AU$180,001, the tax rate reaches as high as 45 percent under the current system. Other brackets include a 37 percent tax on incomes between AU$120,001 and AU$180,000, 32.5 percent from AU$45,001 to AU$120,000, and 19 percent for earnings from AU$18,201 to AU$45,000. Income below AU$18,200 remains tax-free.
Discussion and Debate Over Taxation Policies
Knight's situation sheds light on broader discussions concerning the taxation system in Australia and its impact on individuals in high-earning brackets. Her case, particularly as a high earner on a digital platform like OnlyFans, highlights the challenges faced by content creators and similar professions under the existing tax regulations.
