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TranceAddict Forums > Local Scene Info / Discussion / EDM Event Listings > Australia > vinyls and tax stuff
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tubby
Supreme tranceaddict



Registered: Jul 2002
Location: sydney

the thing in that quote is the bit that you have a decent expectation of eventually turning a profit. I don't think anyone would question that you can offset the cost against dj-income.
claiming against other income this dj-business must be able to get into the black in the not too distant future.

Old Post Oct-27-2004 04:27  Australia
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gumble
doing the fat gut strut!



Registered: Apr 2002
Location: Melbourne

i claim on my beers.

they are essential to my performing drunken karoake and winning the meat tray at the end.















p.s. i hate karoake, and im vego.


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Old Post Oct-27-2004 05:27  Palestine
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webmeister
beats that go thump



Registered: Mar 2002
Location: Sydney Australia

quote:
Originally posted by gumble
p.s. i hate karoake, and im vego.


Bah, I've seen you up on stage singing Khe Sanh more than once


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Old Post Oct-27-2004 11:29 
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batemanscott
i <3 my GTI



Registered: May 2004
Location: Melbourne, Australia

Muli i think i'll look into this a little more closely; I hope your right because i could claim a heap this year.

Just remember though with the ATO it's not up to them to prove u wrong or find you guilty, it's up to you to prove yourself right and not guilty.

They only have to audit you and i think you'll find the rubber gloves they wear are really tight.

Old Post Oct-27-2004 11:52  Australia
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muli
****



Registered: Oct 2003
Location: Sydney

Wouldn't they question it before giving me the money?

Anyway the amount i claimed on my business was only $1000 worth of records, so i doubt that is anything really for them to be concerned about. I went on advise by my accountant, it was logged via his company not by me personally.

I think you are all just benig overly cautious, i have receipts for everything i claimed for and as far as I'm concerned it is all perfectly legit.


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Old Post Oct-28-2004 00:13  Australia
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Antistatic
Supreme tranceaddict



Registered: Aug 2003
Location: Perth

Yeah make sure you keep all your receipts. I claimed a bit more than muli tho (>$3,000)


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Old Post Oct-28-2004 00:29  Australia
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tubby
Supreme tranceaddict



Registered: Jul 2002
Location: sydney

you can get away with all sorts of claims on your tax, it's not unless it's extreme or they audit you that you will get done.
They use a pretty simple formula to identify people for audit, if x+y/z > q you're going to get targetted. In the US they publish exactly what variables will get you landed in the medium, high or definate audit categories.
I claimed about $10,000 in travel expenses this year, and i've claimed similar amounts in previous years. Who knows if they check imigration records, but I've never been asked to prove anything.

Old Post Oct-28-2004 00:33  Australia
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muli
****



Registered: Oct 2003
Location: Sydney

you claim $10000 and dont actually travel that much? LOL



i claimed (on my real job) studies, laptop, travel to clases on weekends, and few other things i cant remember.

next year i have new mixer and cdj to claim on business :P


U know what u could do tho, is make up some dj invoices so it looks like you get payed more so say this year i got $2000 payed to me, well next year fudge it to say $3000 and then claim $3500 on expenses


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Old Post Oct-28-2004 03:10  Australia
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tubby
Supreme tranceaddict



Registered: Jul 2002
Location: sydney

if you got more invoices to show you got paid more they'd want you to pay them the tax on those invoices before they'd give any back.
I do travel, all those claims are legitimate, you can claim about $360 per day for working in the uk for example. It's just that i've never been asked for proof yet. They may do some background checks, maybe the documents work gives me are also sent to the tax department.
the point was that just because they gave you your claims now, doesn't mean that they have approved them and cannot come and take it all back if/when they look a little closer.

Old Post Oct-28-2004 03:29  Australia
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TranceAddict Forums > Local Scene Info / Discussion / EDM Event Listings > Australia > vinyls and tax stuff
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