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ARTIST ABN / TAX
Business for Artists, GST, Tax and getting an ABN
If you are selling your artwork or intend to sell your artwork it is likely you have asked yourself at some stage "do I need an ABN?" (Australian Business Number). Whilst actually 'requiring' an ABN may depend on your earnings, most practicing artists find themselves 'wanting' an ABN for tax reasons.
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Design Tips for Artist Business Cards
Having an ABN tends to make things easier for Businesses such as art galleries or Organisations such as art competitions to deal with you in a financial sense. You can however still deal with Businesses, Private Buyers and Organisations in a financial way without an ABN however you will have to declare yourself as a Hobbyist and Taxation issues will be different for you and those who pay you.
How to find out more about ABN:
Seek professional advice. The best place for any information regarding ABNs and how to obtain an ABN is the Australian Business Register. Another website with helpful information about starting, managing and growing a business is: business.gov.au additionally you may like to seek advice from other Artists via Art Forum Australia's Art Business section.
Are successful Artists are business-minded?
It's common that Artists are Creative-Minded and not so Business-minded. However many wealthy artists in modern times are those Artists who have found the right balance between the two. For an artist managing your financial affairs in a business-like way is to your advantage such as keeping a budget for purchasing art materials or recording artwork sales. You should be organized in your business; your art-making and learning how to better manage, market and grow your business should earn you more money!
Be business-minded and improve your skills
If you are serious about your art-making and earning an income from it. Aside from getting an ABN you may want to invest in yourself by improving your 'business skills'. Some suggestions are:
- Enroll in a basic book-keeping course at your local Community College.
- Enroll in a Practical Studio Skills course at a leading Art College.
- Get Artists Business Cards and an Artists Website made.
- Start a Contacts List or Mailing List of friends, buyers, colleagues.
- Network with artists locally and stay informed of local events by joining your local Art Society.
- Network with Artists nationwide online via Art Forum Australia.
- Start compiling your career biography while its fresh in memory and add your ongoing achievements to it regularly.
- Set goals, write them down or stick them up keep them in front of you and ask someone close to you to keep you accountable to them.
Starting a business or aspiring to earn your full-time income from your art-making is an exciting prospect; don't be daunted by your dreams anything is possible if you work at it.
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