In this episode of Ask the Agents, Chelsea Bonner breaksdown the reality of talent contracts for models, actors, influencers, content creators, and performing artists. She explains why the ATO classifies talent as independent contractors, what this means for tax deductions and business structure, and how to navigate agency relationships for long-term success.
Learn why agency commissions are an investment, not a loss, how agency service fees (ASF) work, and the key clauses you must understand before signing a contract. The discussion also tackles career persistence, industry misconceptions, and setting yourself up for financial success in the entertainment industry.
Key Takeaways
* Agencies don’t hire talent—they find work for them.
* Commission is an investment in your career, not a loss.
* Agency commissions & work-related expenses are tax-deductible.
* Agency service fees (ASF) cover essential operational costs.
* Contracts cannot be terminated at will—valid reasons apply.
* Strong communication with your agent leads to more opportunities.
* Persistence separates successful talent from the rest.
* Career progression involves strategic long-term effort.
* Think like a small business owner!
ATO Resources for Tax Deductions
https://www.ato.gov.au/individuals-and-families/income-deductions-offsets-and-records/guides-for-occupations-and-industries/l-q/performing-artists-income-and-work-related-deductions
https://www.ato.gov.au/individuals-and-families/income-deductions-offsets-and-records/guides-for-occupations-and-industries/l-q/performing-artists-income-and-work-related-deductions/deductions-for-work-expenses?=redirected_performingartist#Deductionsforworkexpenses
Episode Breakdown
00:00 – Understanding Talent Contracts & Industry Realities
02:54 – The Role of Agencies, Commissions & Business Structure
06:10 – How Taxes & Deductions Work for Independent Talent
08:53 – Why Agency Service Fees (ASF) Exist & What They Cover
11:58 – How Contracts Work & What You Need to Know
14:50 – Managing Expectations & Communicating With Your Agent
18:06 – The Role of Persistence in a Long-Term Entertainment Career
20:52 – Career Progression: How to Keep Growing in the Industry
24:07 – Final Advice for Long-Term Success in the Creative Industry
🌎 Website: www.iconmanagement.com.au
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📍 LinkedIn: Icon Management AU
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