Skip to main content

Film Industry Accounting

In normal course you will receive your contract income with withholding tax deducted. Very rarely in the film industry is PAYE used.

Double check your payment schedules

  • If it is withholding tax that has been deducted then you fit the definition as "Self-Employed"
  • If self-employed then normal-course tax deductable expenses apply

Expenses such as:

  • Business use of home if you have space there used for business purposes. These expenses include mortgage interest, rates, rent, insurance, power, telephone repairs and maintenance
  • Mobile phone
  • Internet provider costs
  • Some travel / transport
  • Computer consumables as well as the depreciation on the computer
  • Stationery
  • Course Fees
  • Travel costs to the industry meeting(s) etc. Both domestic and international
  • Costs associated with the film / media industry e.g. Movie tickets
  • Some entertainment costs

This schedule is not exhaustive neither restrictive

Our suggestion is that if you have a spare 30 minutes, call on over and we'll take a quick look at your tax position.  From there, if we agree that it's worthwhile submitting (to the IRD) a set of accounts, we will provide you an accounting fee quote and get on with the job.

95% of our film industry clients have received refunds over the years. Some as high as $19,000!

 

When you get a minute give us a call (04 939 1110) or email (admin@cornish.co.nz) to discuss.