How many of you dodgy DJ bastards claim vinyl purchases / equipment / anything??? I know I do, and I don't even DJ

Tax Times for me is much better than xmas... This year I'm spoiling myself with some better hardware and a new computer for the essentials.

Out of curiousity, has anyone been audited for claiming run a business as a DJ?

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quote:

Originally posted by rez How many of you dodgy DJ bastards claim vinyl purchases / equipment / anything??? I know I do, and I don't even DJ Tax Times for me is much better than xmas... This year I'm spoiling myself with some better hardware and a new computer for the essentials. Out of curiousity, has anyone been audited for claiming run a business as a DJ?

rez!! you need to fill me in as to how this is achieved.

Cheers

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Did anyone else get a mail from the Tax Office about IT tax claims? Basically they want records of all our shit, mobile phone useage, travel documents and crap.

bastards

yeah i was actually thinking about claiming some stuff the other day. do you need an ABN to do that kind of thing? should i go see an accountant about it?

fill us in rez

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well ive been told i need to get an ABN & i bought some property earlier in the year so im just gonna go to a professional this time round. i earned a massive $120 from DJing this financial year. i bet the taxman has his greedy eyes on it

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Well this is how I see it (could be completely illegal, i dont know)

I do have an ABN from a previous sub contracting thing I did. Now I use it as a 'Musical Producer' front
Any small business is expected to run at a loss the first couple of years, I beleive the tax office allows a business running at a loss for 2-3 years? (dont quote me, as i have no clue)

We'll use a Fish N Chip shop as an example.
Starting a Fish N Chip business would be quite costly, purchasing all the cooking equipment, not to mention the produce. Then only earning sfa during the first years... So you're expected to lose alot of money which the ATO will be more than happy to refund some of.

Its sorta the same with DJ'ing, you bought your decks/mixer/vinyls/studio equipment all for your business of DJ'ing. I'm pretty sure you can claim all that on tax which I'm sure alot of us has spent thousands on.
Just state how much you earned, say $100.00 per gig. You'll get quite a hefty tax return using this method as I scored 4k last year without any trouble.
So yeah, just make sure you got receipts (or fabricate them like me) of any purchases semi-relating to DJ'ing/Producing

With the ABN, i'm not too sure about what you need to do. I suggest signing up for an ABN (its as easy as signing up for a hotmail account). Choose the Tax paying period as Yearly so you wont be bothered by the pesky ATO. Just make sure you hand in your Income statement at the designated yearly interval.

How I got mine setup is, every time tax time rolls around, I tally up my years expenditure and income from the DJ/Producing business. I could've easily spent 20k on vinyls/equipment in a financial year and could've easily only earnt 1k from gigs. I'm pretty sure this is legal


I remember alot of other DJ's on TA do this on a yearly basis, maybe some other people can enlighten us on how it really works

I'll let you guys know if I get audited... I'm certain all of you would love an extra 4k bonus for that hard to appease vinyl addiction

tip: if you have never done this, accumalate all your purchases from when you first started and pretend you bought it all in the same year. (which is what i did last year). Try not to do this if you're a bum and only claim newstart as they'll be wondering where the fuk you ripped the dosh from. People with a ft job with min wage are alot less likely to get audited. But even if you do get audited, photoshop and myob will be your new best friend.

[/rez's illegal tax tip #1]

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Last edited by rez on Jul-04-2006 at 01:32

quote:

Originally posted by rez Well this is how I see it (could be completely illegal, i dont know)

oh that's cute.

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i got an abn for djing - i dont know how much i should say cos ill end up in jail :/

i think you can claim just about anything to do with music after u earn $5000 - i think.

if its lesss i would love to hear that - cos yeah thered be a bit of a payback

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as with any deduction, it is only applicable if it is incurred as an expense of earning income, this does not include the odd gig every now and then, im not 100% sure about how the ruling would go with this but you need to be able to show invoices you've sent to ppl you've played for, receipts (obviously), and you may/may not need to have to show that you are actively seeking gigs.

Getting an ABN does not automatically qualify this as a business, however its a pretty good start if u wanna convince the ATO.

also if you're using the equipment for private use as well, that might be a bit tricky, as you might be expected to pro rata it work/private.

I never did tax for performing artists or anything like it so im not sure about anything on the matter, the above are just some general guidelines.

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I'm sure my cellmate will also think I'm cute, lets get done for tax fraud together jizz and be cellies

and yeh that sounds about right jpl oh wise one

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shokk my madness says what i must do

if i masturbate at work, can i claim an extra deduction for drycleaning due to unexpected spillages?

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if u have to wear a uniform yes

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