ABN
Not all Fringe artists will need an ABN but it’s worth doing a bit of background research to work out whether you do or not.
Generally speaking if you are regularly earning income on an ongoing basis from your art, performance fees or ticket sales, and that income makes up a large proportion of your total income you should consider obtaining an ABN (if you don’t have one already!).
On the other hand, if you are employed full time elsewhere and your income from ticket sales, performance fees or your art is small in proportion, or you don’t reasonably expect to make any profit, you may be considered a “hobbyist” by the Taxation department (not by us of course!) and may not be required to obtain an ABN.
If you fit the requirement criteria, and you are selling tickets to your Fringe event, you will need to quote your ABN number to the Fringe (if you have one) or provide the Fringe with a statement by supplier if you don't have one.Failure to do this may neam the Fringe has to withhold 48.5% of all your tickets sales for taxation purposes. So, to avoid this risk it’s worth getting on to it early!
For more information about ABN’s and other taxation issues please call the Fringe Finance Manager, Mirella Innocente on +61 08 8100 2014 or email mirella@adelaidefringe.com.au.
You can also check out the Australian Government Business website by clicking here.