It has taken a little bit of paperwork and time... but finally, the ensemble is properly seperated from myself. Originally, I had launched the ensemble as an offshoot of my self-employed business... it was just the easiest thing to do at the time, and I was a bit pressed for time with grant funding applications and the start of the concert season.

However, in the longer term, all the grant funding would count for personal income... and so would any donations and other things. So, having my personal finances entangled with the ensemble finances was never really going to be a sustainable model or business structure.

So, after a bit of a legwork... the ensemble is now properly seperated from me, as a non-profit incorporated association. It is its own legal and financial entity... which also helps if for some reason, the entire thing blows... we are legally and financially protected. It does meant that there is additional reporting, governance, and other painful paperwork. But the benefits are a lower taxation rate, special treatment as a charitable organisation, and lots of other benefits that fit with the cultural non-profit status.

During the entire ordeal, I've learnt quite a bit... and now the first steps are to properly disentangle the finances. The ensemble owes me a bit of money that needs to be properly and transparently reimbursed, and I have already logged and reimbursed the receipts for the first concert... the first of two that need to be sorted out. The third concert falls under the seperate entity regime... so, that will work easier, as there is no tangling of the taxation reporting.

Meanwhile, I owe the ensemble money... as I was holding the grant money and the proceeds from the first two concerts of the year in a seperate account. I'm just waiting on the grant funding body to confirm HOW this is done. I had suggested that the ensemble issues me an invoice for the full balance of that account... which I can then claim as a personal tax deduction, and that would leave a transparent paper trail for tracking the funding. The annoying part of all of this was
that the grant funding was for the full calender year, and the Australian tax reporting goes by the half year.

All the proceeds from the third concert were being held in escrow by the ticketing company... and I hadn't requested a payout yet, so that was just recently paid to the new ensemble account.

I'm hoping to complete the rest of the money accounting and reimbursement by the end of the evening. Not too much more to go now.... just the second concert stuff. And then, I'm just waiting on the arts council to give the go ahead for the last transfer for the balance of the grant funds... and then I'm properly disentangled!

Trouble is... the arts council is pretty slow at replying to questions. I might have to start nagging them...

I can also be found cross-posting at:
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