Approve the Cookies
This website uses cookies to improve your user experience. By using this site, you agree to our use of cookies and our Privacy Policy.
OK
Index  •   • New posts  •   • RTAT  •   • 'Best of'  •   • Gallery  •   • Gear  •   • Reviews
Guest
New posts  •   • RTAT  •   • 'Best of'  •   • Gallery  •   • Gear  •   • Reviews
Register to forums    Log in

 
FORUMS Community Talk, Chatter & Official Stuff The Lounge 
Thread started 31 Dec 2010 (Friday) 15:24
Search threadPrev/next
sponsored links
(this ad will go away when you log in as a registered member)

POTN Aussie club # 10..'The Shame'

 
this thread is locked
S7000
My brain hurts
Avatar
7,097 posts
Gallery: 1 photo
Likes: 53
Joined Aug 2007
Location: Sydney
     
Feb 09, 2011 21:15 |  #526

Nice one Andrew!!! Have fun with all that. I got a smaller delivery of similar film a few months back. :lol:

I however just went out and got one of these yesterday!

IMAGE NOT FOUND
IMAGE IS A REDIRECT OR MISSING!
HTTP response: 404 | MIME changed to 'text/html' | Byte size: ZERO


Going to be some fun times ahead!

And on another note, thanks for all the well wishes, baby and parents are doing well! I haven't seen him yet though, probably Sunday. :)

Phil | flickr (external link) | Gear | Website (external link)

  
  LOG IN TO REPLY
sponsored links
(this ad will go away when you log in as a registered member)
JustinLawrence
Goldmember
Avatar
2,497 posts
Likes: 1
Joined Feb 2008
Location: SYdney, AUstralia
     
Feb 09, 2011 22:13 |  #527

Nice wheels Phibo, is this an upgrade or a new hobby?


Justin

Gear List

  
  LOG IN TO REPLY
Collin85
Cream of the Crop
Avatar
8,164 posts
Joined Jan 2007
Location: Sydney/Beijing
     
Feb 09, 2011 22:45 |  #528

Soo.. any tax experts here? About to buy a 5D II - would I be able to claim that on tax even if I haven't made that much money from photography in the past year?


Col | Flickr (external link)

Sony A7 + Leica 50 Lux ASPH, Oly E-M5 + 12/2
Canon 5D3, 16-35L, 50L, 85L, 135L

  
  LOG IN TO REPLY
srowlandson
Member
78 posts
Gallery: 7 photos
Likes: 9
Joined Nov 2009
Location: Melbourne, Australia
     
Feb 09, 2011 22:52 |  #529

Collin85 wrote in post #11812939 (external link)
Soo.. any tax experts here? About to buy a 5D II - would I be able to claim that on tax even if I haven't made that much money from photography in the past year?

Unless it is your only source of income, it will be classed as a hobby and the govt won't care about the income nor the ability to claim tax on gear to make that income




  
  LOG IN TO REPLY
nathan96
Senior Member
Avatar
267 posts
Joined Mar 2010
Location: Adelaide, Australia
     
Feb 09, 2011 23:47 as a reply to  @ srowlandson's post |  #530

Do you use it for work?

I always wondered if you buy it just before the end of financial year and use it only for work in those last few weeks weather you can claim 100% (total write off not depreciation)

Obviously this must go along with a genuine need for work.

I have claimed a percentage of my photo stuff on tax because I use it for work to take photos of wetlands and soil profiles etc.


flickr (external link)

  
  LOG IN TO REPLY
DigitalDabbler
Senior Member
Avatar
348 posts
Joined May 2009
Location: Glorious Sydney, Godzown
     
Feb 10, 2011 01:08 |  #531

Collin85 wrote in post #11812939 (external link)
Soo.. any tax experts here? About to buy a 5D II - would I be able to claim that on tax even if I haven't made that much money from photography in the past year?

I haven't claimed on any of my gear. When your lens does its silky smooth thing and the body grabs the image and you've just obtained a superb photo, does the money really matter?

Okay, I may be hosed for this, but having the right gear at the right time, isn't that the important thing?

Since we no longer have a two cent piece, my five cents worth

C:\>


Respect the moderators. They are the over-worked force that keep this place civil.
Sturf (external link) | Picasa (various lightboxen) (external link) C&C welcome.
Got a spare lobster? get Kiva (external link).

  
  LOG IN TO REPLY
smorter
Goldmember
Avatar
4,506 posts
Likes: 19
Joined Nov 2007
Location: Melbourne, Australia
     
Feb 10, 2011 01:31 |  #532

srowlandson wrote in post #11812987 (external link)
Unless it is your only source of income, it will be classed as a hobby and the govt won't care about the income nor the ability to claim tax on gear to make that income

No this is not exactly true. The rule is whether you have a profit making intention or not

Irrespective of how much you make, if you provide services with the intention of charging market price for profit, then it is a business

If you provide services, but only to cover costs, or only for a small nominal fee, then it is a hobby

The difficulty is proving it is a profit making intention if you only make $1000 but charge $2000 depreciation (for example). Whilst a loss does not mean it is not a profit making intention (a business), it is harder to justify if you get audited


Wedding Photography Melbourneexternal link
Reviews: 85LII

  
  LOG IN TO REPLY
Rai33
Goldmember
Avatar
1,838 posts
Likes: 16
Joined Jan 2009
Location: Sydney
     
Feb 10, 2011 02:16 |  #533

In regards to claiming tax refunds on your photographic equipment - I was told by an accountant that you must earn a minimum of 20K p.a. before you can start depreciating equipment on your tax claim. You are free to claim GST on equipment purchases if it as a second job but till you reach the minimum income level you are limited as to what you can claim. Not sure how accurate that is - would obviously be best to call the ATO and clarify this.


Portfolio - Fashion/Beauty (external link)
Portfolio - Kids (external link)
Model Mayhem (external link)
Flickr (external link)

  
  LOG IN TO REPLY
AdamC
Goldmember
Avatar
3,719 posts
Joined Jul 2007
Location: newcastle.nsw.au
     
Feb 10, 2011 04:24 as a reply to  @ Rai33's post |  #534

mcminty wrote in post #11811320 (external link)
I love the brown UPS van...

UPS actually come to you? Around here, they pass off to Aus Post for the last mile.

smorter wrote in post #11813654 (external link)
No this is not exactly true. The rule is whether you have a profit making intention or not

Irrespective of how much you make, if you provide services with the intention of charging market price for profit, then it is a business

If you provide services, but only to cover costs, or only for a small nominal fee, then it is a hobby

The difficulty is proving it is a profit making intention if you only make $1000 but charge $2000 depreciation (for example). Whilst a loss does not mean it is not a profit making intention (a business), it is harder to justify if you get audited

Don't forget, you don't 'charge' depreciation, you claim back on the income tax. You have to earn enough to pay enough income tax to claim it back..


[gallery (external link)|gear|flickr (external link)|blog (external link)]

  
  LOG IN TO REPLY
mcminty
Goldmember
Avatar
1,250 posts
Joined Jun 2006
Location: Sydney, Australia
     
Feb 10, 2011 04:39 |  #535

AdamC wrote in post #11813955 (external link)
UPS actually come to you? Around here, they pass off to Aus Post for the last mile.

Yup! I placed the order on Monday night (morning in New York).. by midnight American time it was in Louisville (the UPS hub), then 24 hours later it had arrived in Sydney. :D

I'd hate for Australia Post to do the last leg. They'd likely lose it... :lol:


Andrew || Flickr! (external link) | 365 Days Project (external link)

40D | 350D || EF 24-105mm 4L IS | EF 50mm 1.8 | EF-S 18-55mm | EF 70-200mm 2.8L | 430EX

  
  LOG IN TO REPLY
smorter
Goldmember
Avatar
4,506 posts
Likes: 19
Joined Nov 2007
Location: Melbourne, Australia
     
Feb 10, 2011 04:41 |  #536

AdamC wrote in post #11813955 (external link)
Don't forget, you don't 'charge' depreciation, you claim back on the income tax. You have to earn enough to pay enough income tax to claim it back..

True, but I use the word "charge" as just a generic descriptive word to mean, increasing your expenses (allowable deductions) for tax purposes. If you want to get really technical, the correct terminology is that depreciation is an allowable deduction against your assessable income for taxation purposes. But thanks for highlighting this so others don't get confused

Rai33 wrote in post #11813730 (external link)
In regards to claiming tax refunds on your photographic equipment - I was told by an accountant that you must earn a minimum of 20K p.a. before you can start depreciating equipment on your tax claim. You are free to claim GST on equipment purchases if it as a second job but till you reach the minimum income level you are limited as to what you can claim. Not sure how accurate that is - would obviously be best to call the ATO and clarify this.

I'm an accountant, albeit a company auditor not a tax accountant so take this with a grain of salt

You cannot claim GST unless you have a ABN and are registered for GST. Individuals cannot claim GST, only businesses can. So you will need to register a business or organisation with an ABN, and register for GST in order to do so

There is no minimum to depreciate as far as I know


Wedding Photography Melbourneexternal link
Reviews: 85LII

  
  LOG IN TO REPLY
photobitz
PlatinumMeasure​baiter
Avatar
6,499 posts
Joined Jan 2006
Location: Wollongong, NSW, Australia
     
Feb 10, 2011 07:52 |  #537

smorter wrote in post #11814000 (external link)
I'm an accountant

My condolences

:lol:

Would the education tax refund thingo cover camera equipment? That could be another option perhaps...?


Dan

My gear | Me on Flickr (external link)

  
  LOG IN TO REPLY
smorter
Goldmember
Avatar
4,506 posts
Likes: 19
Joined Nov 2007
Location: Melbourne, Australia
     
Feb 10, 2011 08:00 |  #538

Well I'm just one year out of uni so not too late to change :)


Wedding Photography Melbourneexternal link
Reviews: 85LII

  
  LOG IN TO REPLY
Rai33
Goldmember
Avatar
1,838 posts
Likes: 16
Joined Jan 2009
Location: Sydney
     
Feb 10, 2011 14:41 |  #539

smorter wrote in post #11814000 (external link)
I'm an accountant, albeit a company auditor not a tax accountant so take this with a grain of salt

You cannot claim GST unless you have a ABN and are registered for GST. Individuals cannot claim GST, only businesses can. So you will need to register a business or organisation with an ABN, and register for GST in order to do so

There is no minimum to depreciate as far as I know

No ship Sherlock that you need an ABN ...Uni has been worth it :P

Jokes aside - I was told that in the situation where say photography is your second job and your primary income is more than xxx (somethign like 20 or 25K) then you must earn over a certain amount from your photography before you can start claiming for depreciation, expenses etc Then apparently once you start earning above the minimum threshold you can retrospectively claim these expenses. Are you able to verify that's the case?


Portfolio - Fashion/Beauty (external link)
Portfolio - Kids (external link)
Model Mayhem (external link)
Flickr (external link)

  
  LOG IN TO REPLY
smorter
Goldmember
Avatar
4,506 posts
Likes: 19
Joined Nov 2007
Location: Melbourne, Australia
     
Feb 10, 2011 16:26 |  #540

Actually we don't learn really learn about ABN's or tax at uni, I just went here for all the stuff I typed above
www.ato.gov.au (external link)


Wedding Photography Melbourneexternal link
Reviews: 85LII

  
  LOG IN TO REPLY
sponsored links
(this ad will go away when you log in as a registered member)

95,853 views & 0 likes for this thread
POTN Aussie club # 10..'The Shame'
FORUMS Community Talk, Chatter & Official Stuff The Lounge 
AAA
x 1600
y 1600

Jump to forum...   •  Rules   •  Index   •  New posts   •  RTAT   •  'Best of'   •  Gallery   •  Gear   •  Reviews   •  Member list   •  Polls   •  Image rules   •  Search   •  Password reset

Not a member yet?
Register to forums
Registered members may log in to forums and access all the features: full search, image upload, follow forums, own gear list and ratings, likes, more forums, private messaging, thread follow, notifications, own gallery, all settings, view hosted photos, own reviews, see more and do more... and all is free. Don't be a stranger - register now and start posting!


COOKIES DISCLAIMER: This website uses cookies to improve your user experience. By using this site, you agree to our use of cookies and to our privacy policy.
Privacy policy and cookie usage info.


POWERED BY AMASS forum software 2.1forum software
version 2.1 /
code and design
by Pekka Saarinen ©
for photography-on-the.net

Latest registered member is jgozzi
615 guests, 196 members online
Simultaneous users record so far is 15144, that happened on Nov 22, 2018

Photography-on-the.net Digital Photography Forums is the website for photographers and all who love great photos, camera and post processing techniques, gear talk, discussion and sharing. Professionals, hobbyists, newbies and those who don't even own a camera -- all are welcome regardless of skill, favourite brand, gear, gender or age. Registering and usage is free.