Tax Deductions for Models

It’s that time of year again in Australia - Financial Year End aka, Tax Time.

As 30th June approaches, many of us will start preparing our supporting documentation to claim tax deductions.

Fashion Models fall under the umbrella of “Performing Artist” section of the ATO guidelines. You can refer to this ATO link that breaks down everything you need to know in greater detail, such as claiming sunscreen (if you require it for working outdoors).

One tax deduction I wanted to address here, is on the photographic portfolios. Did you know that can claim a deduction on “test shoots” you’ve paid for? You certainly can claim test shoots! Refer to this section on the ATO site. Take this as a reminder to always ask for a tax invoice, if you didn’t already receive one, from photographers you’ve hired for test shoots. Whether you paid for a shoot to update your social media content or your agency’s folio they are tax deductible as the photographs are claimed as marketing/ publicity costs, which hopefully generate more work for you.

This means, all paid for test shoots are tax deductible excluding your initial start up costs for your portfolio as per the ATO guidelines cited above.

I hope this brief blog post was a helpful reminder in considering what you can claim during tax time.

DISCLAIMER:

I am not a qualified financial adviser, tax agent or accountant and therefore cannot give out taxation advice. If you require further clarification of what was summarised herein, please speak to your accountant or tax agent or refer to the ATO links aforementioned.