Music Artist Accountants – Moneypenny Business and Tax Australia

By: Moneypenny  11-11-2011

Whether you’re just getting your first gigs, or touring the world, Moneypenny are able to cater a services package to suit your needs.

As a music artist it is important that you create a strong business foundation right from the very start so that when you achieve commercial and/or critical success (so often the two don’t go hand in hand!) you aren’t putting your hard work at risk. Things such as band agreements, the correct structure, maintaining records and a good lodgement history, combined with a general attitude of interest and involvement in your music business will help you to achieve your goals. Despite the ‘rock n roll’ image of the music game, it is a business and to treat it any other way is short-sighted and risky.

Established artists will know the need for an accountant who is hands on and proactive in managing their financial affairs. Moneypenny enables you to focus on the creative side of the business without having to worry about the nitty gritty.

Did you know?
As a musician you are considered by the ATO to be a ‘special professional’. This enables you to average your music income out over the years you’ve been a musician. So if you have some slow years before you write your big hit, you should be able to make huge savings on your tax in that first big year.

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