Published on 28 Mar 03
by NATIONAL EVENTS, TAXATION INSTITUTE OF AUSTRALIA
The Tax Act has some sympathy for 'special professionals' but generally it is a hard tax planning road for the individual sports person, entertainer or creative artist. Case law, the Act itself and the ATO's rulings combine to make it risky, at best, to assign or alienate personal income, but there are some opportunities amongst the pitfalls!
- Getting started - structures, tax concessions, planning
- Personal income (IT 2121) vs PSI issues
- Intellectual property, copyright and endorsement income
- Planning for growth - tax residence, foreign income
- Travelling, LAFA, FBT issues
- PAYG and GST - registration - prize money, appearance/performance fees.