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Music invoice for Customer Support

hi everyone it's Cherie from big notes get votes I hope you are well and this is my public service announcement that I'd like to do and send out to any entertainment professional who is a contractor that can mean dancers singers musicians I just come off the back of doing being the show producer for a big event which means that at the end of the big event you're usually processing lots of em voices one thing that was really highlighted to me was that i'm not sure if a lot of people have had the opportunity to be walked through how to prepare a tax invoice and in new zealand you certainly have to align that up with your responsibilities to the Inland Revenue and how it works and a nutshell is that if you are a contractor or if you do contract work the employer is legally obliged to take tax on your behalf unless you have a tax exemption certificate which you will usually apply to the ird to receive or if you're a registered company so if you're a registered company you'll have a company certificate and you are responsible therefore for your urine tax if you're not under those categories and you're a sole trader I wanted to take you through a couple of things that might be helpful to you so firstly how to fill out an invoice now you don't know until you know but there are lots of resources out there and I want to back this up with some good information from the ird because their new website is outstanding if I jump over here you'll see this business govt t NZ lots and lots of information on keeping records and invoices receipts wage books pd cash if you're going down that route but more importantly that will redirect you to a sight to the irda of govt TMZ site which actually takes you through text and voices and it gives you a little little demo which I've got there and I'm going to show you a personalized one because this one applies to you if you are GST registered which is a whole another kettle of fish because there are some parameters surrounding GST that you can look into and get information on on the ird website so we'll steer clear of GST for now we're just going to do sol trading contractor and by the way i am not an accountant or even a tax agent my account my text agent would be laughing to know that I'm giving this information out to you because I learnt the hard way as well which is why I want to share this because I think it's really important that you keep on top of your taxes and a totally totally have learnt the hard way and didn't file tax for like seven years and you pay a ton of interest and it ain't cool so I'm trying to help you learn from my mistakes ok so remember i will post the links to all of these things i'm showing you plus i'm going to give you this exact template so let me walk you through it the first thing that you've got here is you know you can personalize it with a logo or a company name or whatever and then the second thing is there's some basic things as you'll see on the ird site that you have to cover so the first one is you do need to have the word and voice their you definitely need to have your contact details so these you know my phone number I've put my email and my website they're good opportunity for branding so you may as well use it you need to put your address there and definitely your name and I always pop musical services there as well too ok so then the next thing you've got is I always put a teaching accounts and then you definitely need to have the company name and the address of the company I mean you can probably get away with just having the company name but the address helps and then some other important things you to have there is definitely have your GST or your ird number now don't worry about the GST if you're a sole trader or you're not GST registered but certainly your ird number and as you will find out if you ever go from being a sole trader to GST registered and it's the same number but that is a whole other kettle of fish GST so we're just talking about ta ye or pay as you earn tax and as I mentioned the employer is legally obliged to take the tax on behalf of the contractor and pay it to the ird unless you have those documents that i mentioned before tax exemption certificate or you're an actual registered company do you know and this is a really simple system that i use and you can use anything all that matters is that you get it so this for me is 0-1 is the first gig of the eighth month of the year so that was obviously 2014 when i created this template and then you get down to the description right what the gig is so let's say you know nears eve party britomart 30 festive december 2015 then you'd write your price on so let's say it's a hundred dollars if you're using the withholding tax code which is absolutely one hundred percent with so ninety-nine point nine percent the best tax code to use and for contractors then you will be text twenty cents and the dollar which means you have to take twenty dollars away from 100 and then 80 bucks is what you'll end up being paid important to pop your bank account details down there as well so they know reader payer and then a nice little message okay so let's talk real quick about withholding tax so I'm going to jump across to what this form here which is the IR 330 tax code dicks declaration now and use that usually I send it out to people in a PDF format and I don't know if you have a Mac or if you are on pc but this is Mac there's a little thing in preview when you pull up the PDF and you go to tools and then you go to annotate and you can actually create yourself a signature you can see couple I've got there and you can also add text so you can fill this in on your computer you don't even need to print it and you can save it and then send it back one quick note about saving files really important to save things correctly put your name but what the document is and the date so that when someone like me is receiving a hundred ir 330s they don't have that same that same file name like everybody else same with your tax document I would label it something like this is big notes get photos and then i would put 01 08 14 and then maybe the date of the performance or some kind of reference and all my name I'm file naming a super important for for when you're digitally filing things as well later on again I'm not perfect I'm just leaving try to help you guys out and make things easy of you in the future okay so with this text code declaration is pretty straightforward you put your name you put your tat your ird number and then you put your tat your tax code so for contractors it would be WT you just confirm that you have got permission to work and New Zealand your poppy signature on okay so if you need any more information at the bottom of the document there are it's sort of like a flowchart that helps you figure out what it is that you're doing now you'll see here salary and wages if you're a contractor nine to nine point nine percent of the time you will not be using any of these tax codes because you contract so you are not being paid a salary or a wage same with here secondary income you will not be messing around with any of the staff because you are not being paid a salary or wage ninety-nine point nine percent of the time this is where you come in the other tax code options scheduler payments belong to the WT tax code there might be some other things that apply to to you if you and our contracting in another way but we're going to focus on WT so it's got tons and tons of information if you're not a detailed orientated person and creatives very really are unless it's the detail of their project like art or music then it might be a bit much to take in so basically you do need to assign what rate of deduction you are and it's based on the activity so you just scroll down and here we go entertainers lecturers presenters participants and sports sporting events radio television stage and film performers so that's us that's pretty much all of us and you can see that that tax rate is twenty twenty cents on the dollar you can see back up here form itself you'll then right WT and you're right entertainment services and then you are good to go so I hope that hope this has been helpful for you and if you have any questions you can just holler at me and happy tax and voicing