“Your income will not be treated any differently than if you earned it working nine to five in an office.”
If a virtual transaction has real world implications – if it can be attributed a monetary value – it attracts the attention of the Tax Office. Sites such as slexchange.com set rates for swapping Second Life’s Linden dollars for “real” money.
“The real world value of a transaction may form part of your taxable income, even if it is in Linden dollars,” the ATO spokeswoman says. “In addition, there may be GST to consider.”
In other words, if you are turning over the equivalent of more than $50,000 selling virtual jewellery to Second Life avatars, you must get an ABN and register for GST.
Jack Emmert heads up design over at Cryptic, of course. And it looks like he just delivered a keynote at th Serious Games Summit in DC. Serious Games Source has a write-up. Among the things that jumped out at me:
So there I am in Outlook 2003, about to delete an email unread. Muscle memory kicks in, and instead of hitting CTRL-Q to mark it read, then Del, I hit CTRL-A, CTRL-Q, Del, a sequence I use many times a day when wiping out all the spam in a folder.
So I delete my entire Inbox.