HELP repayment thresholds and rates 2013-14 HELP repayment income (HRI*) Repayment rate Below $51,309 Nil $51,309 – $57,153 4.0% $57,154 – $62,997 4.5% $62,998 – $66,308 5.0% $66,309 – $71,277 5.5% $71,278 – $77,194 6.0% $77,195 – $81,256 6.5% $81,257 – $89,421 7.0% $89,422 – $95,287 7.5% $95,288 and aboveRead More →

HELP repayment thresholds and rates 2012-13 Below $49,096 Nil $49,096–$54,688 4% of HRI $54,689–$60,279 4.5% of HRI $60,280–$63,448 5% of HRI $63,449–$68,202 5.5% of HRI $68,203–$73,864 6% of HRI $73,865–$77,751 6.5% of HRI $77,752–$85,564 7% of HRI $85,565–$91,177 7.5% of HRI $91,178 and above 8% of HRI *HRI = TaxableRead More →

As from the 1st July 2013 the Australian Taxation Office will no longer be issuing income tax refunds as a cheque, instead, the refunds will be electronically transferred directly to your Australian bank account. So when you visit your Registered Tax Agent or complete your return online you will need to makeRead More →

HELP repayment thresholds and rates 2011-12 2011-12 HELP repayment income (HRI*) Repayment rate Below $47,196 Nil $47,196-$52,572 4% of HRI $52,573-$57,947 4.5% of HRI $57,948-$60,993 5% of HRI $60,994-$65,563 5.5% of HRI $65,564-$71,006 6% of HRI $71,007-$74,743 6.5% of HRI $74,744-$82,253 7% of HRI $82,254-$87,649 7.5% of HRI $87,650 andRead More →

As from the 1st July 2012 changes are being made to the Medicare Levy Surcharge and the Private Health Insurance Rebate. The Medicare Levy Surcharge has always been a penalty for having a higher income and not having private health insurance. The levy now increases above the 1% of previous years to aRead More →

I recently Googled to see what was out there on the subject, and was shocked at what I found. There seemed to be a lot of information, but many of the facts are so often lost in the stories told.
Lets dispell a myth first: there is no dollar threshold that constitutes being in business as an artist.
So how do you determine that you are conducting a business? The following indicators must be considered when determining whether you are carrying on a business; Whether the activity has a significant commercial purpose or character; this indicator comprises many aspects of the other indicators;Read More →