Entertainment magazine for the everyday A-List StarCentral

Home of the hottest online trends, the best online deals and the most promising upcoming stars from all over the world!

  • About
  • Contact
  • Login/Register
  • Cart (0)

Main Navigation

  • Celebrity
  • Shopping
  • Industry Tips
  • Trending
  • Movies & TV
  • Magazine
  • Advertise
  • Subscribe

MASSIVE DVD CLEARANCE SALE

Hot prices on selected Blu-rays and DVD's for a limited time only

Featured Post

Jason Harris

No Comments

6 Financial FAQ’s Every Freelance Model Should DEFINITELY Know About

43

If you’re a freelance model, you’ll know that managing your work can often feel like a juggling act – no less true when it comes to your finances. On one hand, there’s making sure you are operating under the letter of the law… then, there’s invoicing…plus, there’s keeping track of your accounts… and most importantly, there’s ensuring that you get paid on time.

How to keep track of it all? Here are StarCentral Magazine’s top FAQ’s for your finances as a freelance model.

ABN

As a freelance model, you will need to consider how you will operate. It’s pretty much essential that you acquire an ABN (Australian Business Number) as companies and individuals will ask for this when you invoice, or if they pay you for your work via direct debit. If you consider yourself a professional it is likely that the need to have an ABN will arise at some point in the future, so it’s always a good idea to get this component of your financial set-up in order as your very first port-of-call.

Taxation

Long before it comes to tax time, you’ll need to know how to deal with taxation as a freelance model. At the very least you need a Tax File Number (TFN), and you might want to consider registering for Pay As You Go Installments (PAYG), depending on the scope of your work. This can allow you to put away enough money to manage any taxation costs and debts come End of the Financial Year (EOFY).

Superannuation

While you don’t have to pay yourself superannuation as a freelance model, you certainly don’t want to leave yourself with an amount that isn’t sufficient to live off when you become too old to continue your work. You’re going to have to consider just how much you might need in order to support yourself when you retire. You can make personal super contributions that allow you to manage financial insecurity, particularly when it comes to your superannuation.

Invoicing

When you’re a freelance model it’s likely that you will need to send invoices to collect payment for completed projects. Generally, once you send an invoice, those that contract your services have a three-month window in which to deposit the money in your bank account (or, to find a way to pay you via some other method). However, you can set your own invoicing terms and/or use a contract. This will help you to meet your commitments – like paying the rent and bills on time. You can use templates and use email/SMS to follow up. Always use clear, intelligible language and remember to always double check all your figures and details before you hit send.

Accounts

When working as a freelance model your finances can get a little messy. Always keep a separate business account in order to accurately keep track of your profits and expenses. There can be a lot of hidden costs associated with modeling (travel/beauty/health related) so, always consider the true cost of undertaking an assignment. You need to be diligent and keep track of your earnings in order to manage your finances into the future.

Insurance  

Did you know that as a freelance model it is very likely that you are not covered for injuries and illness when working on an assignment? Taking out personal insurance to cover you (should something untoward happen) is a good idea in protecting your career interests and a potential loss of income should you be unfit to work. Always make sure you properly assess a location to ensure that it is safe and never allow someone to put you in danger for the sake of a good shot.

Tick off your financial FAQs

So, what do you need to ‘tick off’ to make sure you’re on track? We hope you have found this list useful and wish you the best in your future career endeavours – the team at StarCentral.

  • Only $1

    StarCentral Magazine October 2018 Issue Featuring Madison, Jess And Brooke

    Latest Issue Issue October, 2018 featuring: Madison Croft, Jess Turunen and Brooke Murray and so much more inside.
    Grab your copy today!

    Download Issue Now

Related Posts

  • Freelance Model Rates: How Much Can Or Should You Really Charge??Freelance Model Rates: How Much Can Or Should You Really Charge??
  • 3 Important Steps To Becoming A Successful Model3 Important Steps To Becoming A Successful Model
  • 3 Helpful Tips For Breaking Into The Modelling Industry3 Helpful Tips For Breaking Into The Modelling Industry
  • Australian Models Just Got Measured And Weighed In “I Am Multiverse – Australia” BMI CrackdownAustralian Models Just Got Measured And Weighed In “I Am Multiverse – Australia” BMI Crackdown
  • 5 Surefire Ways Of Making It BIG In The Modeling Industry5 Surefire Ways Of Making It BIG In The Modeling Industry

elite modelsFemale ModelsmodelmodelingModelling

Post a Comment

Click here to cancel reply.

Please note that your email is never published nor shared. Please also note that abusive or spammy comments will not be condoned and the opinions expressed in the comments above do not reflect the views of StarCentral Magazine. Required fields are marked with an *.

*
*

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>

 
A Step-By-Step Guide To Creating A Powerful Brand Identity

Featured Post

A Step-By-Step Guide To Creating A Powerful Brand Identity

Magician Justin Flom’s Insane Card Tricks Shocks Everyone On  The Late Late Show with James Corden

Rave Reviews

Magician Justin Flom’s Insane Card Tricks Shocks Everyone On The Late Late Show with James Corden

  • Western Union
  • Miss Earth Australia
  • Aussie Elite
  • GKMBJ
  • Royal Aquamarine
  • Laxales
  • Mona Lisa
  • Beautopia
  • Fin Photography
  • Hit Music Producers Inc
  • Archie K Photography
  • Enquire with us to advertise your business here!
  • DJ Savvy

Footer Navigation

01Popular

  • Top 10 internet scandals that has rocked the Philippines
  • Top 12 sexiest and most Seductive male scents that will drive women wild!
  • Miss Multiverse Australia Just Gave Gabrielle Keaton A Blast Of A Farewell Party
  • Introducing Cause Film Festival: An Annual Short Film Festival That Provides A Platform For Film Makers
  • 3 Powerful Visualization Techniques To Turn Your Dreams Into Reality

02Latest

  • These Men Played A Giant Monopoly Game With Real Money. Moments Later… OMG
  • Magician Justin Flom’s Insane Card Tricks Shocks Everyone On The Late Late Show with James Corden
  • A Step-By-Step Guide To Creating A Powerful Brand Identity
  • Featured Event Of The Week: Makisig Morales LIVE in Sydney
  • This 7-Year-Old Kid Runs So Fast, He’s Being Hailed As The Fastest Kid In The World

03Comments

  • sajolalexander9736@gmail.com: Nice
  • elisabeth brigitte: Kyle antony
  • Günther: Kyle Antony
  • günther: Kyle Anthony
  • elisabeth brigitte: Kyle anthony

04Latest Issue

  • StarCentral Magazine October 2018 Issue Featuring Madison, Jess And Brooke

    StarCentral Magazine October 2018 Issue Featuring Madison, Jess And Brooke

    Download Now

05Sponsors

  • Archie K Photography
  • Hit Music Producers Inc
  • Beautopia
  • Fin Photography
  • Enquire with us to advertise your business here!
  • Laxales

06Get Social

  • StarCentral Magazine on Facebook
  • StarCentral Magazine on Twitter
  • Subscribe to StarCentral Magazine

07Affiliates

  • Seriously Sexy Ads

© 2006-2019 StarCentral Magazine · All rights reserved · Terms & Conditions · Privacy Statement · In collaboration with Mojo New Media Solutions