Sportspeople, media personalities, celebrities and ‘insta’ influencers beware. The ATO has taken a U-turn on how fame and image
should be taxed.
If
you’re famous and make an income from your fame and image, the way the ATO believes you should be taxed on the income you make may change
under a new draft determination set to take effect on 1 July 2023. It is not uncommon for celebrities to attempt to transfer the rights to
the use of their name, image, likeness, identity, reputation etc., to a related entity such as a company or trust.
This related entity then manages these rights, generating income from exploiting their fame and image. For example, where a media
personality’s image is used on product packaging. One of the aims of arrangements like this is to enable the income to taxed in the entity
at a lower rate of tax or to be distributed to related parties who might be subject to lower tax rates.
What will CHANGE?
The new draft determination (TD 2022/D3) deals
specifically with the rights to use a celebrity’s fame and image. The ATO’s argument is that the individual doesn’t have a
proprietary right in their fame, which means that attempting to transfer the right relating to their fame to another entity would not be
legally effective. That is, you cannot separate the fame from the individual, it vests with the individual regardless of any agreements put
in place.
As a result, any income relating to an individual’s fame or image that is received by a related entity is treated as if it was simply
being collected on behalf of the individual and should be taxed in the hands of that individual.
Lunch & Learn Workshop // 4 September, 2026 - 12:00 - 1:30pm
$35pp includes lunch
Many business owners believe growth comes from more sales. But in reality, the strongest and most profitable
businesses grow by improving how the business works, not just by selling more. This session is designed to change that. The
5-Critical Financial Metrics
is a practical workshop that shows you where small, targeted changes can create disproportionately big improvements in profit, cashflow and
sustainability.
Lunch & Learn Workshop // 26 June, 2026 - 12:00 - 1:30pm
$35pp includes lunch
This session is designed to change that. Pricing, Profit &
Your Ideal Client
is a practical workshop that helps you understand where your
profit really comes from,
how pricing decisions affect margins, and why working with clients that align with your business makes a measurable difference to both
profit and cashflow.
AI-Enhanced Automation for Accounting and Finance Professionals: Leveraging RPA, VBA, ChatGPT, and Copilot for Innovation and
Productivity.
Join SkyBots’ 2-day Workshop in MELBOURNE with automation expert Daryl Aw to revolutionise your workflow using Power
Automate, UiPath, VBA,
and cutting-edge
Agentic AI. Tailored for accounting and finance professionals, bookkeepers and small business owners,
this hands-on training will teach you to automate repetitive tasks, generate and optimise VBA scripts, and deploy robust automation
solutions independently.
AI-Enhanced Automation for Accounting and Finance Professionals: Leveraging RPA, VBA, ChatGPT, and Copilot for Innovation and
Productivity.
Join SkyBots’ 2-day Workshop in BRISBANE with automation expert Daryl Aw to revolutionise your workflow using Power
Automate, UiPath, VBA,
and cutting-edge
Agentic AI. Tailored for accounting and finance professionals, bookkeepers and small business owners,
this hands-on training will teach you to automate repetitive tasks, generate and optimise VBA scripts, and deploy robust automation
solutions independently.
Lunch & Learn Workshop // 27 March, 2026 - 12:00 - 1:30pm
$35pp includes lunch
Many business owners are surprised to learn that most businesses don’t fail because they’re unprofitable - they fail because they run
out of cash. This session is designed to change that. Cashflow Essentials is a
practical workshop that shows you how cash really moves through your business, why cash pressure happens, and how to stay in control
- even while you’re growing.
Lunch & Learn Workshop // 27 Feb, 2026 - 12:00 - 1:30pm
$35pp includes lunch
If you’re like most business owners, you receive financial reports, and you have your accounting software, but you don’t always feel
confident interpreting them. This workshop is designed to change that.
Know Your Numbers is a practical, plain-English
workshop that teaches you how to
properly read and understand your core financial reports - and,
more importantly, how they work together to show the real health of your business.
Ten property markets across four states have been identified as offering strong long-term capital growth potential.
On 31 March, the Fringe Benefits Tax (FBT) year ends. With the ever increasing budget deficits, the ATO will be reviewing whether all employers who should be paying FBT are, and that they are paying the right amount. Who needs to lodge a FBT return? Find out here.
