: sept: All you need is a foolproof formula for commercial musical success and the gov. will support you.
: You want foolproof?! I'll give you foolproof!!!!
: You know about the new GST, right? You know that it is taxed at the point of sale, 10%. What you pay is called a tax input credit, and if you sell that item on you can ask for your input credit back. What most people forget is that this also applies to services.
: A band or musician can start their own service, or business. If the projected year's earnings is less than $50,000.00 at any given time (ie if you earn $400.00 one week your projected income would be 400 x (365/7) = $20,857 which is less than $50,000) there is no need to register the band for GST, however it is a good thing to do anyway to save worrying about if you have to charge the new tax. If everyone under the new partnership, is 'hired' on contract each person can claim travel allowances, which means tax benefits for tours if you take your own vehicles each. Any instruments or equipment could be classified as 'business equipment,' which means more benefits such as depreciation allowances. If you don't earn a whole lot from your business there are government benefits, more tax allowances, and a whole lot more free stuff.
: That was what our beloved Dumbo meant. The government thinks that as a business you'll do good, they want to see you do good, it doesn't mean you have to make more money, but you will and hopefully it will be worth all the hours of practice.
*Indoctrinating the next generation on the gentle art of tax evasion. Beautiful. It's all so clear and fresh and.........beautiful!
None.
