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Young OnlyFans model shocked after completing her tax return and cops a huge bill to pay

Young OnlyFans model shocked after completing her tax return and cops a huge bill to pay

Kaila Smith said she wishes she knew more about taxes before launching her account.

A young Australian OnlyFans star has been delivered a brutal blow after completing her tax return.

Kaila Smith, 21, was doing what millions of Aussies do after June 30 and that's submitting her taxes to she where she's at.

However, nothing prepared the content creator for the whopping bill that came back.

She revealed in a TikTok video: “It is tax time and tax time has done me so f**king dirty."

She said: "Like, when you are broke you almost have to get a tax return every single time and that used to be me. Last year I got like $500 return.

“But this year I have to pay pretty much $15,000 in tax and I’ve never paid that much money for anything in my whole life, apart from my car.”

Ouch... that sure is one hefty tax bill for Kaila.

However, the 21-year-old realised that if she had been paying tax monthly, like most people do in their full-time jobs, then the bill wouldn't have been nearly as high.

Kaila Smith makes a very comfortable living from OnlyFans... well, that's until she files her tax return!

Responding to a comment that said: "I pay about that every year. But throughout the year," Kaila said she'll definitely be doing that for the 2023-24 financial year.

She told her viewers that it's not all bad because she is making a lot more money than she used to after joining OnlyFans, so don't bust out the violin just yet.

However, she added: “I just wish I knew more about tax time and finances. But yeah, that’s my rant of the day."

People in the comments were sympathetic to the young content creator as taxes can be pretty confusing when you're managing your own finances.

One said: "I think I owed about 40k once. mostly staff PAYG. Get accounting software so you can count all expenses. cameras, shoot locations, internet, compute."

Learning about taxes and finances is certainly a learnng curve.

Another added: "The low & middle income earners offset expired this year, unfortunately a lot of people have been affected like this."

Loads of commenters suggested she get an accountant to make sure she doesn't get another big bill in the middle of next year.

She confirmed that she has definitely taken them up on that advice.

"I found such an amazing accountant that specialises in this sort of thing so I think I’m all sorted now," she revealed.

Featured Image Credit: TikTok/@kailatalks

Topics: OnlyFans, Australia