settlement
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Presumably Revenue today would take a dim view though if my nephew puts a heap of junk together and I give him 10k for it rather than pay gift tax...
The problem is that artists could take years to produce a novel, film, album, painting etc. and the revenue from it is returned in one year rather than spread over the course of a few years.Hello,
I would love to see The Artists' Exemption reduced, or possibly even removed entirely. It is far too generous and for no good reason imho. Artists have to work for a living just like everyone else, so why not pay tax just like everyone else ?
The problem is that artists could take years to produce a novel, film, album, painting etc. and the revenue from it is returned in one year rather than spread over the course of a few years.
I think that is much better idea and is a fairer way of taxing artists and writers who are on low but sporadic income while avoiding high paid writers taking advantage of the scheme.That's a very good point... should the artists' exemption not really be an exemption, but the ability to be 'averagely' taxed over a period of X years (say three to five)?
The problem is that artists could take years to produce a novel, film, album, painting etc. and the revenue from it is returned in one year rather than spread over the course of a few years.
Let them offset some of their legitimate costs on these failed ventures against future earnings on others perhaps ?
But they now have this to help tide them overThe problem is that artists could take years to produce a novel, film, album, painting etc. and the revenue from it is returned in one year rather than spread over the course of a few years.
So dole for 12 months without the hassle of being called in by those pesky Dept types wondering are you ever going to at least start looking for a job!ARTISTS AND WRITERS will find it a lot easier to access social welfare payments under a new government pilot scheme launched today.
The new plan will allow self-employed professional artists apply for Jobseekers Allowance.
Under the new initiative, such artists would not be subject to the activation process for 12 months. The normal checks and balances will apply to ensure the system is not open to abuse, but the process will be much more accessible for professional artists to access welfare payments when they need them.
I struggle to believe that the likes of a publishing house would not be happy to delay payments and stagger them over a few years
if I decide to do nothing other than daydream for months on end (or dabble with poetry, drawing etc. and ultimately find it's worth nothing other than perhaps for the recycling company) then I don't get paid,
It's very different for artists.
They can produce critically successful work for years but no one buys it. Then it takes off.
But you raise a valid point. Maybe we should all be able to smooth out our income for tax purposes over a period of years?
If a school leaver starts working immediately and earns €20,000 a year for 7 years, he will pay little or no tax.
If a doctor studies for 7 years and then earns €50,000, he will pay a lot of tax.
Maybe tax credits should be cumulative? Start accruing them from the age of 18 and if you don't use them, carry them forward.
Great idea Mr Earl. Well done!
Brendan
Was he not based in Trieste around 100 years ago?
A few problems here
1) I would not like to delay receiving money. If the publishing house goes bust, I would be in trouble.
2) You are taxed on the income earned in the year and not on what you have received.
Brendan
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