Serious question

[jack_ryder]

Although we're not earning much (if anything) with the radio plays, [edit]ferkster and I have been asked if we have an ABN.

Do any writers out there have one? Does it help at tax time? I know it offsets GST tax credits and so on, but should we get one now, or wait until some serious money comes in (I would imagine it's the latter, but I'd like to know if anyone else has had to apply for one.)

Comments

[chrisbarnes.livejournal.com]

I agree with David - an ABN can be useful for some business transactions, but do NOT register for GST if you're not making much money yet. That's the way I've gone. (Not that I'm an accountant, of course, and it could be worth consulting one. If you like, I'll run the question past Louise, who is an accountant.)