MicrostockGroup Sponsors


Author Topic: Contributor update about tax  (Read 5555 times)

0 Members and 1 Guest are viewing this topic.

SpaceStockFootage

  • Space, Sci-Fi and Astronomy Related Stock Footage

« Reply #25 on: April 04, 2017, 17:23 »
0
Dubai is the big one. They make so much money from oil taxation, they don't need to tax any individuals. Just did a quick search and there's four more... Bermuda, Monaco, the Bahamas and Andorra. None of them are the cheapest places to live, but I guess it helps if you're not paying tax! Maybe the whole tax thing is the very reason why they've become the go to destinations for the rich and the famous. 


« Reply #26 on: April 05, 2017, 01:50 »
+1
Dubai is the big one. They make so much money from oil taxation, they don't need to tax any individuals. Just did a quick search and there's four more... Bermuda, Monaco, the Bahamas and Andorra. None of them are the cheapest places to live, but I guess it helps if you're not paying tax! Maybe the whole tax thing is the very reason why they've become the go to destinations for the rich and the famous.
If you want to live in Monaco, you have to open a bank account there and keep a minimum balance of 1 million euro.  I doubt there are many microstockers there :)  This is an interesting read, the little guys doing what the big corporations do http://www.independent.co.uk/news/uk/crickhowell-welsh-town-moves-offshore-to-avoid-tax-on-local-business-a6728971.html

« Reply #27 on: April 10, 2017, 12:03 »
0
I'm in the 30% range. Instead of getting ~150$ I got ~100$. It's disasterous.

Mir

« Reply #28 on: April 10, 2017, 13:16 »
0
I am a little confused because for February they took about 20% of the sum and for March 40%.

« Reply #29 on: April 10, 2017, 13:35 »
+1
Check your accounts because I have info from fellow contributor they overwithheld tax on his latest payment!

« Reply #30 on: April 10, 2017, 13:44 »
0
If you want to live in Monaco, you have to open a bank account there and keep a minimum balance of 1 million euro.  I doubt there are many microstockers there :)

Not quite, it really depends. 100,000 is the minimum for the cheapest bank, and I'm sure there are plenty of microstockers who can afford that. You have to show that you can support yourself in Monaco of course, and since property is insanely expensive I suppose 100,000 doesn't last that long...

0% tax, however, would mean more than double the income for many, including myself. That makes a pretty big difference.

Not sure I'd want to live in Monaco though...

« Reply #31 on: April 10, 2017, 13:47 »
0

.

« Reply #32 on: April 10, 2017, 16:36 »
0
Check your accounts because I have info from fellow contributor they overwithheld tax on his latest payment!

This is exactly what I think !!
Gross amount for this month is deducted by 40%!! that's insane
So, I just email to ask them and wait for their reply.

I'm very confused right now..
anyone can explain this? :-\

« Reply #33 on: April 10, 2017, 16:59 »
+1
I emaild Lee and this is the reply. Seems they erred last month and this month corrected it.


"Yes, the last few months the amounts paid have been different to the amounts earned. Firstly, we started withholding taxes. Secondly, last months payouts were calculated without taking into account the tax withheld from the previous month, so we overpaid you a little. This months amount balances that out.

Sorry for all the confusion. From next month your payments + taxes withheld should again align with what you earned during the month. "

« Reply #34 on: April 10, 2017, 17:24 »
+1
This is exactly the same e-mail my friend recieved!
He is absolutely sure there's nothing overpaid to him, because his previous payment (first for 2017) was taxed with 30%.
The second payment for 2017 (yesterday) is taxed with almost 50%! So there's at least one case with wrong tax withholding!

« Reply #35 on: April 10, 2017, 20:51 »
+1
They took 15% of my payment.

I expect documentation on all taxation so I can get it back.

« Reply #36 on: April 10, 2017, 22:31 »
0
I emaild Lee and this is the reply. Seems they erred last month and this month corrected it.


"Yes, the last few months the amounts paid have been different to the amounts earned. Firstly, we started withholding taxes. Secondly, last months payouts were calculated without taking into account the tax withheld from the previous month, so we overpaid you a little. This months amount balances that out.

Sorry for all the confusion. From next month your payments + taxes withheld should again align with what you earned during the month. "

I received this same message as you Photobomb.
From number in transaction page I absolutely sure there's nothing overpaid last month.
So there's at least one case with wrong tax withholding like Fairplay said... :'(

« Reply #37 on: April 11, 2017, 00:20 »
+1
I emaild Lee and this is the reply. Seems they erred last month and this month corrected it.


"Yes, the last few months the amounts paid have been different to the amounts earned. Firstly, we started withholding taxes. Secondly, last months payouts were calculated without taking into account the tax withheld from the previous month, so we overpaid you a little. This months amount balances that out.

Sorry for all the confusion. From next month your payments + taxes withheld should again align with what you earned during the month. "

I received this same message as you Photobomb.
From number in transaction page I absolutely sure there's nothing overpaid last month.
So there's at least one case with wrong tax withholding like Fairplay said... :'(

With last months payout they did not deduct 10% (my rate) from me, it was far less.
When I add last month and this month payments together and figure the tax - the extra they took this month adds up to the correct amount.

They should have said something officially but the explanation seems correct for me.
Can't speak for anyone else's situation.

Sean:
Lee assured me they would provide the proper documentation for next years taxes.


Noedelhap

  • www.colincramm.com

« Reply #38 on: December 04, 2017, 12:52 »
0
The part that concerns me is

You do not need to complete any forms, but you do need to keep us informed about your country of registration. And the end of each Australian tax year (June 30) we will send you a document listing the tax withheld that you can use to claim credit from the tax authorities in your country.

That doesn't coincide with the tax year for the USA - so I'm not sure how we are going to report this.

So in April 2018 I'll have a document showing only 6 months of withholding.
Then in April 2019 I will have a document showing the withholding for half of 2017 and half of 2018?

The costs for the extra tax forms my accountant is going to have to fill out will probably negate the refund I'll get for claiming the tax payments.

Did any of you get the proper tax documents of the withheld tax after June 30? In my country the tax year ends at December 31st with tax returns filing date somewhere in April. Canva's documentation would come too late to file it for the current year. How did you solve this and is Canva going to change this?

« Reply #39 on: December 04, 2017, 13:02 »
0
This is what Lee told me back then.  I assume nothing has changed.
-------------
Yes, we understand not all countries tax years are the same and this is awkward. We hope to have functionality for you to generate reports for a custom period in the future, but this specific report, with these specific dates, is a legal requirement from the Australian government. Sorry we can't yet help you out with this.

Cheers,
Lee.

« Reply #40 on: December 04, 2017, 13:32 »
0
There's been a report? I only have their payment info with amounts withheld listed online.

Noedelhap

  • www.colincramm.com

« Reply #41 on: December 05, 2017, 12:58 »
0
This is what Lee told me back then.  I assume nothing has changed.
-------------
Yes, we understand not all countries tax years are the same and this is awkward. We hope to have functionality for you to generate reports for a custom period in the future, but this specific report, with these specific dates, is a legal requirement from the Australian government. Sorry we can't yet help you out with this.

Cheers,
Lee.

Thanks. Not a really helpful response from Canva. 'We hope to have functionality for you in the future'...? They should have had functionality in place on day 1 for stuff like this.


 

Related Topics

  Subject / Started by Replies Last post
3 Replies
1664 Views
Last post May 06, 2009, 08:20
by tan510jomast
1 Replies
1125 Views
Last post October 07, 2012, 15:47
by beau_nash
6 Replies
1604 Views
Last post December 14, 2012, 08:18
by JPSDK
8 Replies
2175 Views
Last post February 27, 2013, 14:22
by dirkr
74 Replies
11165 Views
Last post January 17, 2017, 11:14
by Jafo2016

Sponsors

Microstock Poll Results

Sponsors