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Thread: *! Australia !*

  1. #1
    God/dess GoldCoastGirl's Avatar
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    Arrow *! Australia !*

    Since the majority of information available in Dollar Den is geared for Americans. I'm starting this thread so that the Australian dancers on this board have a place to post their questions.

    I'm a legitimate dancer here in Australia. I am declaring my income 100% therefore I have to deal with such fun things as the BAS (Business Activity Statement).... GST as well as income tax. I can give you decent enough information esp. if you are a travelling dancer as to what you can and cannot deduct (including meals)!

    In the end, however, you will need to seek out an accoutant who is familiar with tax laws and be able to help you as an independent contractor/self-employed individual in the "Personal and Other Services" Industry.

    Even if your question is as simple as how you can apply for an ABN and basically set yourself up as a legitimate dancer... to something more complicated.

    Ask me.. if I do not know the answer.. I will sure ask my accountant.

    PS If anyone on the Gold Coast or who lives on the Gold Coast (yet works elsewhere) wants a good inexpensive (quality) accountant... I can recommend someone. (No.. not my accountant as she's expensive (yet worth every cent in my books) and only takes on certain clients)


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  2. #2
    mermaidnz
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    Default Re: *! Australia !*

    uhh... say i "knew" of a dancer who wasnt paying tax, but she thought maybe she should start doing so asap...

    would they sting her for all the unpaid tax aswell?
    what if the club wanted her ABN number, would that mean SOMEONE knew she was working there, and not paying?

  3. #3
    Banned Melonie's Avatar
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    Default Re: *! Australia !*

    I just wanted to thank you 'down unda' girls for expanding Dollar Den discussions to address your particular laws. While tax laws in different countries share many similarities, there are also some MAJOR differences ! Just FYI there is a similarity between the Australian ABN business registration number, and clubs in a few US states which require dancers to obtain a business permit. Unlike the US social security number or other national ID numbers (which every person has), I would imagine that the fact that someone applied for an ABN number or business permit number strongly suggests that the person did so because they are earning money via that business in the eyes of tax authorities !!!

  4. #4
    aussiepunkshocker
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    Default Re: *! Australia !*

    I'm not sure if I'm happy with my accountant - he's taking forever because he's got so much else on. He was recomended to me by other people in the entertainment industry, but apparently I'm the 1st stripper he's dealt with. I just hope he's on the ball. If not I'll be asking for your accountants no or a friend of mine from Brisbane who has a great accountant - she claims so much including everything she eats.
    I'm not sure if I'm meant to pay GST? As I understand it, if I earn under $50,000 a year I don't - is that right? I just hate numbers so much I bunged everythying in an envelope and sent it off. Mine gets complicated from only working part-time and pension / child support payments - I just don't want to think about it!!!

  5. #5
    aussiepunkshocker
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    Default Re: *! Australia !*

    Re: Mermaids - The tax dept are cracking down on everyone who works within the entertainment industry, so anyone who isn't being legit should really think about doing so as the penalties can be quite severe for anyone who's unlucky enough to get caught.

  6. #6
    God/dess GoldCoastGirl's Avatar
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    Default Re: *! Australia !*

    I'm not sure if I'm meant to pay GST? As I understand it, if I earn under $50,000 a year I don't - is that right?
    If you earn under $50,000 turnover (in the financial year) you do NOT have to pay. It is voluntary, at this point, to register for GST. (FYI: Turnover is just another word to describe all of your before-tax earnings basically.)

    This includes also any interest you may get from savings accounts and any other "income".

    I would recommend setting yourself up (especially if you have been declaring for more than one year now) so you can do the (almost) quarterly IAS (Income Activity Statement). This is where you pay a certain amount (based upon your previous year's tax return) to the ATO every "quarter" (the dates aren't exactly quarterly yet close to it).

    Why? This way it reduces your end-of-financial-year income tax liability. You can claim that tax you have already paid against any tax you do owe them Thus reducing your "income tax bill" (as you will most likely owe something).

    what if the club wanted her ABN number, would that mean SOMEONE knew she was working there, and not paying?
    Get your arse into gear ASAP is all I have to say. Why? All the dancers who are known to work at the clubs around here, at least, have all received a special letter from the ATO asking them to start declaring.

    I'd hate to be a worry wort however if you have been avoiding paying alot of tax and money has been going in/out of your bank accounts (basically it is trace-able)... the ATO will be wondering... and you might be audited. Might.

    I personally use an accountant and now declare everything because I am looking long-term not short-term.

    The awful tax and GST I pay now will "pay off" in the future as I reduce my risk of being audit-ed as well as increase my ability to invest in real estate and so forth.



    If anyone wants any more help, tips and advice... post away!

    Remember: always consult your accountant as I'm an informed business operator however not totally "qualified" to give it out


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    Banned Melonie's Avatar
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    Default Re: *! Australia !*

    Get your arse into gear ASAP is all I have to say. Why? All the dancers who are known to work at the clubs around here, at least, have all received a special letter from the ATO asking them to start declaring.
    At least the Australian Tax people are giving dancers fair warning BEFORE they start cracking down. In the US there is no warning whatsoever - some dancers continue to proceed on the assumption that their 'cash business' is below the radar, but when the IRS or state tax people are given some reason to come looking they find out that the IRS has no mercy !

  8. #8
    aussiepunkshocker
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    Default Re: *! Australia !*

    Thanks GCG - I'm glad to hear it from a dancer! The quarterly thing is a great idea!
    What I don't get is the situation in Sydney. How come it is that it's still possible to work without an ABN - the ATO did all the clubs down there too just after Queensland yet nothing changed where-as in Queensland things did. Anyway, I just make sure I'm legit.
    Last edited by aussiepunkshocker; 12-11-2004 at 04:03 AM.

  9. #9
    God/dess GoldCoastGirl's Avatar
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    Default Re: *! Australia !*

    What I don't get is the situation in Sydney. How come it is that it's still possible to work without an ABN - the ATO did all the clubs down there too just after Queensland yet nothing changed where-as in Queensland things did.
    Due to the nature of the business being cash based and easily no paperwork (untrace-able nearly).

    Yet "karma is a bitch" in a way as they will have to watch themselves. I basically wouldn't like to be those dancers in the future. They have a very short-term mind-set..... they are avoiding the tax (and possibly GST) that they have to pay just so that they can have all of that $1000 they earnt that week. Very tempting to do.

    HOWEVER

    They will have to purchase everything with CASH and not put too much thru their bank account. In the future, they will have to apply for a loan with a ridiculously high interest rate instead of the better loans due to not having any declared income (or if they do declare.. not enough due to playing around with the figures). Basically, they also have a higher risk of being audit-ed down the road... and THAT is never pleasant. No thank you. The short term gain is not worth it.

    Also... those businesses that are doing these type of things (allowing dancers who don't have an ABN to work) have to watch their own back... they might be (if they have not already been) audited. Which will cost them a hellava lot of money.



    Here's a tip. Purchase MYOB ! It's 100% tax deductible !
    Go onto ebay.com.au and purchase a older (therefore cheaper) version of First Accounts of MYOB. Then purchase an upgrade from your accountant. This will end up costing you less in the end compared to buying a new version of MYOB out-right.

    I also recommend joining the MYOB "club" as that is also a 100% tax deduction.

    If you would like assistance in setting up MYOB (latest version) contact your accountant. For a very small modest fee I can help you out before you get your accountant to give it the "once over" to make sure it is properly set up. If you do go to your accountant, ask him/her to help you set it up in regards to a cash based business.



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  10. #10
    God/dess GoldCoastGirl's Avatar
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    Default Re: *! Australia !*

    I just wanted to add that when you do initially acquire your ABN. Put yourself under the "Personal and Other Services" Industry unless you do receive more income from another "industry".

    Unfortunately, due to the nature of our employment and the fact we are under the "Personal and Other Services" Industry... it makes it harder for us to incorporate ourselves. We can incorporate however it isn't as easy as it is for our USA counterparts.

    I plan to do this after this financial year has finished (I'm planning on having a nice sum left-over therefore being able to afford to do such a thing). I'll keep you updated in case your own accountant doesn't know how to do it.

    I want to incorporate myself as there are whole lot of "double deductions" that I would like to put into effect as an employee/director/owner of the company (the company is a tax structure and entity unto itself) not to mention the other tax benefits associated with this way of working.

    It's all part of my plan. I'll either incorporate myself at the beginning of the new tax year or else purchase a car.

    Oh yeah.. I'll be inquiring with my accountant that if I purchase a second-hand car from a private seller (individual) am I still able to claim the purchase a tax-deduction esp. if the only reason (or main reason) for me purchasing the car is business related ? (I want to be able to do some lingere/topless/nude and R-rated private shows across the Gold Coast and Brisbane... my little moped motorcycle isn't good enough for that.)

    You see I was looking at leasing a car as that is an easy tax deduction esp. if the primary use of the vechile is business related. Yet.. if I have the same $$ left over as I did after the last financial year.. I could easily purchase a second-hand (auto) vehicle out-right or at least put a decent down-deposit on one.

    If anyone knows the answer to the above question... please do post it here


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  11. #11
    God/dess GoldCoastGirl's Avatar
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    Default Re: *! Australia !*

    The following dates are the "due" dates for if you (not your accountant) is doing your IAS (Income Activity Statement) or BAS (Business Activity Statement). The difference between an IAS and a BAS is that a BAS is about your income tax payment as well as any GST you owe and are owed whereas the IAS is purely just income tax (not GST). Therefore, if you are not registered for GST, only the IAS is applicable to you.

    Each financial year starts 1 July.

    28 October

    28 February

    28 April

    28 July


    These (almost) quarterly installments are credit-ed towards your "end of financial year" tax return. You may or may not receive a refund due to the installments. At least you won't owe as much at the end of the financial year.... that's a major benefit.


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  12. #12
    mermaidnz
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    Default Re: *! Australia !*

    thanks heaps for all that GCG!

    im definatly gonna have to get an acocuntant aye?! geez i never knew there was so much crap involved.

    i already have an abn, from when i was gonna import costumes/shoes fromt he states for girls, who only fucked me around and changed their minds, so i guess i wouldneed to cancel that one and start a new one?! arghh

    what a mess....ok, im getting off my ass and sorting this out when im back at the end of the month. might need that accountants details... how much is one of those [email protected]!!

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    Veteran Member sexysunny's Avatar
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    Default Re: *! Australia !*

    i am wondering about a home loan to invest in a property, i have an abn, but am wondering what i need to get a loan. I heard about something called a low dock loan (is that how you spell/pronounce it?), but i'm a bit unsure. can i do it without past tax statements?
    SEXY SUNNY

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    Default Re: *! Australia !*

    mermaidnz: Yes I still do have that accountant's details. You will have to ask them yourself as to their charges. They are recommended by my accountant as they used to work with her and have since set up their own business. Contact me.

    Also, yes.. you can change the "nature of business" in re: the abn. That's what I did. I originally was going to use the ABN for a pet sitting business.... now I use it for the dancing. The accountant will be able to aid you with everything.


    SexySunny: It's called a Low Doc Loan. There are even No Doc loans available out there (tho' Low Doc is more prevalent). What this means is that the low doc loans require very little evidance of proof of income and credibility. No Doc loans are similiar except they require nothing except the basics for you to acquire a loan from the lender (great for those who have declared bankrupcy or who have bad credit).

    Australian Loan Articles -- How the low doc home loan works

    In the end, you will be paying for it (refer to "how the low doc home loan works"). They are not recommended unless you have no other recourse... instead wait... build up two years of working history (that's two income tax returns) and a good credit history that can allow you to qualify for better loans.

    As for investing in property, I don't know if you are aware of it or not... the "bubble" has burst. There are still good spots out there (with high growth and positive cash flow property) however unless you know where to find this information .... you risk loosing money instead of gaining any from your investment. I would very much warn you against real estate investing unless you really really know what you are doing... and how to do it.

    Use that money to increase your financial literacy so that you won't get burnt.... so that you can go into property and other investing confidentally.
    Last edited by GoldCoastGirl; 01-06-2005 at 04:39 AM.


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    Veteran Member sexysunny's Avatar
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    Default Re: *! Australia !*

    ok thanks! that's helped me a lot
    SEXY SUNNY

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