Frequently Asked Questions

We offer a comprehensive range of Business Management, Business Coaching & Consulting, International Tax Consulting, and Tax Consulting.

We suggest completing our pre-qualifying questionnaire here so we can assess which package your needs belong to and provide you with an accurate quote.

Getting started is easy! You need to complete our pre-qualifying questionnaire here to book a call with us to discuss your needs and tailor our services to meet your requirements.

We work with clients in the creative and entertainment industry which includes Artists, Influencers, Booking Agencies & Management Services, Independent Publishers or Record Label, and Production Services.

Financial planning involves creating a strategy to achieve your financial goals. It can help you manage your cash flow, save for retirement, plan for education expenses, and invest wisely for the future. We do not hold a financial planning license but we can recommend you to a trusted advisor. However, we do help you with financial decisions, planning, and evaluating your business performance.

We focus on financial strategy, cash flow management, tax planning, business growth, and profitability improvements, all tailored to creative and entertainment industries.

Coaching focuses on guiding our clients in decision-making while consulting offers direct solutions. We combine both to meet your business goals.

You can expect better financial management, stronger business strategies, and improved profitability, all aligned with your creative vision.

Business Management provides creative businesses with strategic financial oversight. We manage bookkeeping, cash flow oversight, tour reporting, commission calculations, advanced payroll, and other financial management and reporting services. This helps streamline day-to-day operations, ensures tax compliance, and supports long-term financial planning to promote sustainable growth and maximise your creative output.

Financial planning involves creating a strategy to achieve your financial goals. It can help you manage your cash flow, save for retirement, plan for education expenses, and invest wisely for the future. We do not hold a financial planning license but we can recommend you to a trusted advisor. However, we do help you with financial decisions, planning, and evaluating your business performance.

Bookkeeping involves recording and reconciling daily financial transactions, whereas accounting encompasses the analysis, interpretation, and reporting of financial data to help make informed business decisions.

It is recommended to update your books at least monthly to maintain accurate financial records. However, we offer services to update your books weekly or quarterly, depending on your business needs and number of transactions.

Yes, we can install, set up, train you personally, provide ongoing support, and integrate the system with your business operations for seamless financial management.

We offer full-service payroll processing, including payroll calculations, and STP filings.

We use advanced Xero payroll software and maintain strict internal controls to ensure accuracy. Our team also stays updated with the latest tax laws and regulations to keep your payroll compliant.

Xero handles tasks like invoicing, bank reconciliation, payroll, financial reporting, and more. It is the core system for managing your overall accounting. On the other hand, Hubdoc is your go-to for document management such as your receipts, automating the collection, and organisation of financial paperwork.

We prepare and lodge Company, Partnership, and Sole Trader Tax Returns, Business Activity Statements, and Fringe Benefits Tax Returns.

Yes, we can assist you with preparing and lodging overdue tax obligations. We will also help you communicate with the ATO to try to minimise any penalties or interest charges.

Income from royalties must be reported on your tax return, and it includes money received from sources like copyright ownership in music, literature, and other intellectual properties. You must declare your worldwide royalty income and may be entitled to an offset for any withholding tax deducted from foreign earnings. 

First, you’ll need to decide on the most suitable structure for your Australian business. Many foreign-owned entities choose a company structure, and when establishing a company in Australia, at least one director must be an Australian resident for tax purposes.

After determining the structure, you need to complete your registrations. This includes obtaining an Australian Business Number (ABN), exploring whether you need to register for Goods and Services Tax (GST), and registering for a Tax File Number (TFN).

For more detailed information on setting up an Australian company, visit ASIC’s guide on company registration.

This is a crucial question since non-resident businesses are typically taxed on income sourced from Australia, whereas Australian resident entities are taxed on their global income.

Most non-resident businesses choose to operate in Australia using a company structure. A company is considered a resident for tax purposes if it is incorporated in Australia, carries out business activities in Australia, and is either controlled by Australian residents or has its management based in Australia.

For comprehensive information, you can visit the Australian Taxation Office (ATO) website. Here’s a direct link for more details on determining company residency: ATO – Company Residency.

Your notice of assessment (NOA) is the statement ATO issues that explain how your tax assessment is calculated. Your NOA will show the amount of tax you owe on your taxable income, the credit you have for tax already paid during the income year, and the tax you need to pay or your refund.

As you may be aware, you can only claim work-related expenses for products and services paid out of your own pocket, without reimbursement. The expense must be directly linked to your income-earning activities, and you must keep a record of your spending.

Musicians and performing artists can claim the costs of travel such as accommodation, fares, and meals; equipment like instruments and speakers; grooming services if a particular hairstyle is required for a specific role; and stage costumes that clearly identify you as being associated with a particular occupation.

However, you cannot claim personal living expenses, ordinary clothing, or non-business-related travel​. Check out our blog about deductions for performing artists. https://calculatedmatters.com.au/unlock-tax-savings-a-guide-to-deductions-for-performing-artists/

International Tax Consulting provides expert guidance on tax compliance and strategies for businesses and individuals with cross-border financial activities, ensuring they meet the tax requirements in multiple jurisdictions

We assist with preparing Foreign Resident Withholding Variations (FRWV) for international touring artists and we help our foreign resident clients apply or reapply for an Australian Business Number (ABN) or Tax File Number (TFN ).

Touring internationally? We partner with specialist creative industry accountants worldwide to ensure that as an Australian creative working overseas, you are fully compliant.