ABN for Cover Band Musician

(Newbie)Newbie

15 May 2023

Hi! I am part of a 10 piece cover band (i.e. we do not have original/own music). We do weekend gigs and once a month since we have our own full-time jobs on weekdays. If things are going exceptionally well, we earn about $2,500 gross each per year. If you calculate petrol and the time spent, it’s still very much a loss.

· My question is do we need to apply for an ABN? As some businesses/event organisers require a Tax invoice.

· Can I apply as a sole trader? Partnership is not an option, although we are a 10 piece band members come and go.

· If I do apply as a Sole Trader without registering for GST, do I still have to lodge a business activity statement?

0 likes

4,619 views

1 replies

4,619 views

1 replies

Most helpful response

Most helpful reply

WendyATO

(Community Support)Community Support

16 May 2023

Hi @Earl,

That's great your band is doing well.

You don’t need an ABN unless you need to register for GST.

However, getting an ABN is free and can make running your business or enterprise easier, so you may decide to apply for an ABN sooner. For example, it can make keeping track of transactions easier, help identify your business, and it stops tax being withheld from payments you receive from other businesses.

Not everyone is entitled to an ABN. If you have determined that you are in business, you should check if you’re entitled to an ABN.

We cannot advise what entity structure would best suit if you're entitled to ABN. Here is, information about business structures and key tax obligations.

Business activity statements only need to be lodged if you registered for other tax obligations for example GST, PAYGW or entered into Pay As You Go Instalments.

All replies