Events

INFORM: Not an expensive hobby – financial management and tax for artists

Wed 25 October 2017 6pm - 7.30

Pricing: Members: free / Guests: $25.00

Location: Room BH2-16, Level 2, Barbara Hanrahan Building, UniSA, City West Campus, Hindley Street

Presenter: Brian Tucker, public accountant with over thirty years experience as treasurer of a number of arts organisations.

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Understand your tax basics; what paperwork you should keep and how to organise it before you visit the accountant. Recognise what expenses you can claim and how to claim them; why you need an ABN and why you may not need to be GST registered. Learn about what sort of business structures might be appropriate (or inappropriate) for your practice; how income averaging works. Discover what ‘tests’ the ATO use to work out if you are really “in business” as an artist. Hear about how to defend your position against the possible assertion that “this is surely just an expensive hobby”. Spot the perils of section 35-10 of Division 35 of the Income Tax Assessment Act 1997.