Matchless Amps....anyone know anything about them?

[philipnz]

If you are a first time prov tax payer you can delay that till March 05. Think of all the fun you will have in the meantime

[Bg]

If I close my business down, will I still need to pay it?

[TMG 03]

Hmmm, Are guitars tax deductable ?


So are going to see a mesa on Trade now philipnz, God to hear that the new amp went well.

[philipnz]

If I close my business down, will I still need to pay it?

Nope, you can estimate any time before 7th March next year and you dont have to pay prov tax at all if you think your tax will be under $2500

[philipnz]

Explorer went a few weeks ago. I have no plans to sell the Mesa. Always good to have a spare amp.

[Bg]

Had a nosy in Cadenza last week, he seems to have a good supply of old valve amps - Nomad 45, Vibrolux, Twin etc etc perhaps they're overpriced or people don't know where the shop is.

Thanks for the tax info, better have another word with my accountant, looks like I'm going to be full time employed for a year or two now so I might as well close the company down.

[B45-12]

Phil if you do go with the 12 string Gibson (looks like a super 335-12) can I suggest you ask them about a proper adjustable 12 saddle bridge for it. The problem I've found with them is with the 3rd and 4th pair 'D and G' each string of which require largely different positions for their bridge due to the differing thickness of the strings and if you don't have this compensation, tuning and chord things get ghastly further up the neck when it's OK in open position (and vice versa).

Not every guitar - my ricky 12 is a later, cheaper version of yours and it does not need this compensation but of course they are short scale instruments (less of a problem in those I suspect) and besides rickenbacker make (or did the last time I asked them) a replacement drop in 12 saddle bridge.

However normal length scales on electric 12's do seem to have this problem from time to time - one of my guitars is just about useless past the 3rd fret thanks to this and a 6 saddle bridge. One day I'll get it corrected but it's easier on the nerves if things are OK from the start.

[B45-12]

Hmmm, Are guitars tax deductable ?


So are going to see a mesa on Trade now philipnz, God to hear that the new amp went well.

Guitar used to be deductible like any other tools of trade (expenditure to gain income) if you are self-employed as a musician (but NOT if you are an employee (PAYE deductions) or getting no income - first used to be barred under the old schedule 4 tax ammendments, the second was mostly not allowed by the IRD as it claimed such activities were 'hobbies' and not serious income activities) - cannot remember if it was a lump sum to be claimed in one year or depreciation over a number of years. Also it's been a long time for me away from tax so see my disclaimer in the 3rd para below.

Of course to get this deduction you needed to be filling in IR3 returns and declaring all income from your activities (including cash, under the table, overseas and other jobs etc etc). Most income for musos was so precarious that they probably did not bother declaring it and so could not claim deductions but it did make sense if you were working a normal day job (PAYE) and had a regular small, but real, income from night gigs as the tax deductions were not limited to just the gig income but also applied to the PAYE.

To explain what I mean, suppose you bought a new guitar ($5000) and your income from gigs was $1000 - fogetting everything else (for the sake of simplicity) that meant you made a loss of $4000 from that activity ($1000 income less expenditure of $5000 = a loss of $4000). What the tax system used to do if you also had an income, say $20,000, from a PAYE day job is say EITHER you can pay tax on $20,000 less the $4000 loss = only on $16,000 - but since the PAYE is calculated and taken on the full figure of $20,000 (or near enough) - you would get a refund of tax overpaid after you put in your return OR you can claim a percentage (usually specified by the IRD) of this $4000 loss against the $20,000 for the next umpteen years until it (the $4000 loss) reduces to zero - again you would normally still get a refund but over a number of years.

However my warning/disclaimer is it's been a fair few years now since I was employed by the IRD and the legislation has been completely rewritten/argued in court etc. - so although I believe the advice I've given above is in good faith and correct it you cannot rely on it and I will take no responsibility for anyone acting on it - check it out with an accountant first. They are up to date and really worth their fee in this sort of area.

[Zakk Wylde]

You guys have far to much money.

Yes, yes they do.

I'm getting valveamp gas now