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Music, Entertainment, Arts Business Blog 

The 2011 AMPAL Event in Melbourne - AMPAL Presents BEHIND THE MUSIC

Ben O'Hara - Tuesday, May 10, 2011

AMPAL Presents BEHIND THE MUSIC

 

 

May 23rd, AMPAL (the Australian Music Publisher's Association) will be hosting a panel and music night at the Evelyn Hotel on Brunswick St, Fitzroy. The aim of the night is to provide local musicians, songwriters and music enthusiasts with some insight into the future of music through an expert panel discussion, made up of musicians and industry players. The panel will be answering questions and musing about the changing state of the music industry. If you are an aspiring musician wanting to get a break, or a hopeful industry professional seeking inside information you can't miss this exclusive event.

 

Panelists include Adalita (of Magic Dirt fame), Ian James (Mushroom Music Publishing), David Vodicka (Media Arts Lawyers/Rubber Records), Natalie Bell (Milefire Management), and Marianna Annas (ABC Music Publishing).

 

Adalita, currently touring nationally with her debut self-titled album, will be performing exclusively at the end of the evening's panel.

 

Tickets available from greentix.com.au, $10 presale, $12 at the door. Seating is very limited. Book now.

Tax deducations and musicians

Mark Beard - Monday, July 26, 2010

It's tax time again... time to complete those tax returns and collect a refund?

Maintaining financial records

The ATO (Australian Taxation Office) requires both individual employees and businesses to keep source document evidence of economic activity. The reason being that expense transactions are used both by individuals and businesses to reduce taxable income, so naturally the ATO requires available evidence of the transaction and thus the deduction.

In the case of work-related expenses for individuals the ATO states:

"You must have written evidence to prove your claims if your total claims exceed $300. The records you keep must prove the total amount, not just the amount over $300. The $300 limit does not apply to claims for car, meal allowance, award transport payments allowance and travel allowance expenses. There are special written evidence rules for these claims." Source: www.ato.gov.au

In the case of records for businesses (including companies, sole-traders and partnerships) the ATO states:

"By law, you must keep business records for five years after they are prepared, obtained or the transactions completed, whichever occurs latest. In addition the records must be in English or in a form that we can access and understand in order to work out the amount of tax you are liable to pay."
Source: www.ato.gov.au

Are you a special professional?

Did you you know that as a Australian resident (for tax purposes) and a special professional you may be eligible for what the Australia Taxation Office (ATO) calls "Income averaging for special professionals"?

The ATO states:

"You are a special professional if you use intellectual, artistic, musical, physical or other personal skills in the presence of an audience or you perform or appear in a film, on a tape or disc, or in a television or radio broadcast." Source: www.ato.gov.au

Essentially, income averaging is what is called a "concessional tax treatment" and may provide "special professionals" the ability to "spread" their income over a number of years and possibly save on tax.

For more information consult your accountant, tax adviser or downloaded the ATO information sheet via:

http://www.ato.gov.au/individuals/content.asp?doc=/content/00237923.htm&pc=001/002/010/007/002&mnu=37095&mfp=001/002&st=&cy=1


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