Home – New Forums Money matters Freelance writing and tax claims

  • This topic is empty.
Viewing 6 posts - 1 through 6 (of 6 total)
  • Author
    Posts
  • #966214
    manofunreal
    Member
    • Total posts: 2
    Up
    0
    ::

    Just got my first gig writing for a magazine and am hoping to get more jobs in future… I’m wondering at what point (if ever) I can claim costs relating to the writing. The writing relates to hiking/bushwalking so I was wondering if I will ever be able to claim petrol, hiking equipment, etc.?

    It’s a long shot I know but thought it was worth asking around…

    Thanks heaps!

    Neil

    #1016808
    [Former] FS Concierge
    Guest
    • Total posts: 11,464
    Up
    0
    ::

    Hi Neil,

    Welcome to Flying Solo!

    In my experience, if the magazine asked you to take the trip, they will often expect to pay your costs (or a reasonable percentage of them). On the other hand, if you won the job by saying ‘I’m going walking in the Budawangs and wondered if you’d publish an article about my trip’ then the mag is unlikely to expect to pay any costs other than the rate for the article.

    However, you may indeed be able to claim some of the trip costs at tax time – you really need to discuss your personal situation with your accountant. Make sure you keep a diary that includes your travel time and kilometres, your daily activities, and any money spent in the course of the trip (including meals).

    Good luck – hope you enjoy writing your article and that it leads to more work for you!

    Jayne

    #1016809
    manofunreal
    Member
    • Total posts: 2
    Up
    0
    ::

    Thanks for the reply Jayne… I’ve never used an accountant before due to lack of money (and trust for accountants) but maybe I need to consider doing so.

    Cheers
    Neil

    #1016810
    [Former] FS Concierge
    Guest
    • Total posts: 11,464
    Up
    0
    ::

    Hi Neil,
    You really do need one if you’re going to run a business, and their fees ARE tax deductible. There are some lovely, highly knowledgeable and very trustworthy ones hanging out right here on this forum too… when you’re ready to take the leap, try posting here http://www.flyingsolo.com.au/forums/need-resource-got-good-referral/ and I’m sure they’ll come out of the woodwork to assist!

    All the best,
    Jayne

    #1016811
    Integrated Alliance
    Member
    • Total posts: 10
    Up
    0
    ::
    FS Concierge, post: 19175 wrote:
    Hi Neil,
    You really do need one if you’re going to run a business, and their fees ARE tax deductible. There are some lovely, highly knowledgeable and very trustworthy ones hanging out right here on this forum too… when you’re ready to take the leap, try posting here http://www.flyingsolo.com.au/forums/need-resource-got-good-referral/ and I’m sure they’ll come out of the woodwork to assist!

    All the best,
    Jayne

    Hi Neil,

    Firstly, congratulations on landing that first gig! It’s always good to get that first one out of the way!

    Reading through the comments posted, I believe Jayne is on the right track in terms of some of the expenses you may be able to claim.

    Before I continue, I assume that you have already set up an ABN for your freelance business? Also, is the freelance business your only/major source of income at the moment? ie are you also employed and doing freelance on the side?

    The reason why I ask is that you may have to consider ‘non-commercial losses’. If your expenses from freelance writing exceed the income, then you may not be able to offset that loss against your other ‘non-business’ income (ie wages, investment income, etc).

    I have a number of clients who do freelance writing/copywriting/proof reading, etc on the side so happy to give you more information on what you can/cannot claim.

    Feel free to contact me if you need a hand.

    Cheers,
    Andrew

    Integrated Alliance Pty Limited
    Chartered Accountants and Business Advisors
    Level 33, Australia Square, 264 George Street, Sydney NSW 2000
    P: +61 2 9212 0696
    M: 0418 235 150
    E: [email protected]
    W: http://www.ialliance.com.au

    #1016812
    cwm67
    Member
    • Total posts: 40
    Up
    0
    ::

    I dont think the ” non commerical losses” provisons relate to creative endeavours where the taxpayers salary income is less than $ 36 000

Viewing 6 posts - 1 through 6 (of 6 total)
  • You must be logged in to reply to this topic.