The tax man

Trembling Hand · 4 September 2009

I've been there twice last year as a tourist for a couple of weeks. I did like it then but the only two things is the pollution was just Horrendous!! & I spend most of my weekends in the bush or on the push bike.

Wonder what i would find to substitute that?

As for work, no probs worrying about the boss. And I thing I have seen somewhere traders profits are Tax free

skc · 4 September 2009

Trembling Hand said:
I've been there twice last year as a tourist for a couple of weeks. I did like it then but the only two things is the pollution was just Horrendous!! & I spend most of my weekends in the bush or on the push bike.

Wonder what i would find to substitute that?

As for work, no probs worrying about the boss. And I thing I have seen somewhere traders profits are Tax free

There is no such thing as CGT. Now that doesn't sound fair does it!

There is also no such thing as avoiding air pollution. Most of their pollution comes from the factories up north in China. So the only solution around that is for another GFC to shut those factories down.

gooner · 4 September 2009

Trembling Hand said:
I've been there twice last year as a tourist for a couple of weeks. I did like it then but the only two things is the pollution was just Horrendous!! & I spend most of my weekends in the bush or on the push bike.

Wonder what i would find to substitute that?

As for work, no probs worrying about the boss. And I thing I have seen somewhere traders profits are Tax free

TH

Did you got to Lantau Island - fair amount of bush there. Some of the other islands not too bad. Never got into biking when there (although do some now), so can't really comment, except to say there are plenty of hills, so if you like hill climbs, perfect. But watch out for the traffic.

Trembling Hand · 4 September 2009

gooner said:
TH

Did you got to Lantau Island - fair amount of bush there. Some of the other islands not too bad. Never got into biking when there (although do some now), so can't really comment, except to say there are plenty of hills, so if you like hill climbs, perfect. But watch out for the traffic.

I did do one walk with a friend. Cannot remember the Island but it was funny. About 1 hour walk, very easy track, to climb this hill and get to the top to see this nice vista of Forest lead down to the beach and right in the middle of the bay............ A huge big coal fired power station!! lovely.

rock86 · 4 September 2009

wonderrman said:
retire and move overseas were the tax rates are low. live in europe, tax rates in lichtenstein are small apparently. i would sail too.

or you could live in aus for 6 months and overseas for the other 6 months, then you wouldn't be classified as resident for tax purposes - so I'm lead to believe.

w.

Don't know if anybody has said this yet, but the government has changed this and you are no longer able to do this. Is alot more strict now. EG. have to show a primary place of residence overseas and are going to stay there for at least 2 years etc. Have a look on the ATO for the new rules.

overit · 4 September 2009

This article may be of use to some. Does this mean if you now want to move overseas for work you must stay there for 2+years to make benefit of any tax haven from your new host country or otherwise the gubymint will still collect the difference in tax revenue.

Expats tax crackdown a king hit

Andrew Main, Business editor | June 29, 2009

WHILE the nation's political groupies spent most of last week mesmerised by the saga of OzCar, Godwin Grech and the ute, the Senate was quietly passing legislation that will make a major difference to the lives of some of us.

One such bill was the abolition of section 23AG of the Income Tax Assessment Act, which went through on bipartisan support with barely a murmur despite being of critical interest to expats.

In simple terms, if Australian taxpayers go overseas for between 91 days and two years they will remain liable to pay Australian tax, and the only way out of it will be to produce a certificate from another jurisdiction, a FITO or Foreign Income Tax Offset, to show how much tax was paid over there.

snip...

For instance, any expat taxpayer who stays overseas for more than two years can opt to cease to be an Australian taxpayer at all. Be assured that a lot of overseas postings that were going to be for 18 months are suddenly going to grow to two years, which means that instead of paying some tax in Australia on return, those expats will now pay none at all.

nunthewiser · 4 September 2009

Trainspotter .... if you do not wish to move overseas or retire or sell up etc etc etc . scroll back and run my idea via your accountant . theres lots of ways to cook a fish m8

knocker · 4 September 2009

overit said:
This article may be of use to some. Does this mean if you now want to move overseas for work you must stay there for 2+years to make benefit of any tax haven from your new host country or otherwise the gubymint will still collect the difference in tax revenue.

Typical of this corrupt Kruddement. When will the mindless masses wake up to what this self serving little pr!ck is doing to this country.

knocker · 4 September 2009

Perhaps you can give some idea on what expenditure you would cut to fund your massive tax cuts? Private school subsidies and private insurance subsidies perhaps? Easy to say "cut taxes" but not so easy to cut expenditure[/QUOTE]

How about cutting travel expenses for a beloved leader and his merry band?

Mr J · 4 September 2009

gooner said:
LOL - the rest of NSW is normally complaining about supporting Sydney. And the rest of Australia about supporting NSW (at least QLD and WA anyway). Certainly there are some benefits - one layer of Government, less long motorways and rails system, although HK's are fairly impressive particularly the MTR (Mass Transit Railway). However, city states do not have significant agricultural or other natural resources and have to import these. Effectively they rely on their people, not the land. Personally I put it down to the industriousness of the Chinese rather than being a city state.

They might complain, but let's see how they do when their markets, services and infrastructure is taken away. They need a market and centre to move their goods, and to provide them infrastructure. As for HK, I would say it's down to the wealth of being a key trading centre. There are quite a few similar examples in history.

knocker said:
Perhaps you can give some idea on what expenditure you would cut to fund your massive tax cuts? Private school subsidies and private insurance subsidies perhaps? Easy to say "cut taxes" but not so easy to cut expenditure

Click to expand...

How about cutting travel expenses for a beloved leader and his merry band?

Disbanding the state governments would be a start.

knocker · 4 September 2009

Mr J said:
They might complain, but let's see how they do when their markets, services and infrastructure is taken away. They need a market and centre to move their goods, and to provide them infrastructure. As for HK, I would say it's down to the wealth of being a key trading centre. There are quite a few similar examples in history.

Disbanding the state governments would be a start.

That too. Another example of polies double dipping. Why the hell do we have so many bloody finance ministers, when all they do is line each others pockets.

Get rid of state governments and while we are at it get rid of the bloody union jack on our flag.

rock86 · 4 September 2009

knocker said:
That too. Another example of polies double dipping. Why the hell do we have so many bloody finance ministers, when all they do is line each others pockets.

Get rid of state governments and while we are at it get rid of the bloody union jack on our flag.

Yeh agree with ya on both, Rudd says that both are on his agenda, the disbanding of state governments more at the forefront.... but we'll see. It needs to happen

Mr J · 4 September 2009

Hey, if Rudd achieves that, I'll forgive the damage he has done. It's actually quite amazing how useless the state governments are, well at least that of NSW is useless. I still can't figure out how they actually spend their share of the tax, and other fees and fines.

rock86 · 4 September 2009

Mr J said:
Hey, if Rudd achieves that, I'll forgive the damage he has done. It's actually quite amazing how useless the state governments are, well at least that of NSW is useless. I still can't figure out how they actually spend their share of the tax, and other fees and fines.

Ex-New South Welshmen, now living in QLD. And Anna Bligh ain't no better, how they voted her in for another term is beyond me, honestly

trainspotter · 4 September 2009

Companies are set up just fine thanks to everybodies for the insightful quips as to how to structure myself better for reducing tax. This is not the issue I was raising. It is the endless amount of paperwork that goes along with it to satisfy the tax department. They already have the bloody BAS done quarterly so they already know your gross turnover to begin with. Along with PAYG for employees, SGC regulations, Workers comp, public liability etc etc it gets a frigging DRAG ! Then ya gotta pay them TAX on top of it .... where does all the bloody money go? Is it necessary for the PM to be overseas all the time? Why don't they look at cutbacks in their own departments instead? I have a full time person just data entering the accounts and then a CPA to report to the ATO. If I cutback then I do not have this hassle. The price you pay for being entrepreneurial I suppose?

Hey Nun, most of the guys are subbies with ABN's etc BUT you still have to have insurance for them as well !! Even though they have their own too !!

nunthewiser · 4 September 2009

No worries , i figured you and your numbers man would have already covered most avenues on how to make life easier , just thought i,d add my 2 cents just in case you missed it in the world of red tape and handouts

cheers

Vizion · 4 September 2009

trainspotter said:
YES all you Laborites and communists out there I have kept you and your bleeding hearts and artists in the custom they have become used to but I am getting tired of feeding the masses. To tax me as much as you do will effect the overall income of Australia. If I decide to downscale then a large chunk will disappear on the income stream of middle Australia.

Quick question, has all that happened in the last 12 months because I was under the impression we had been under a liberal government for the previous 11 years.

Not that I disagree with the general feeling of your post but lets be fair here. We are a small nation & if we don't tax people on a sliding scale as we do nothing would ever get built. its the nature of the beast.

adobee said:
and whats left after my taxes .. i pay $20+ a day to travel to work on private roads in NSW ... in traffic that is bumper to bumper.. on roads my taxes should own !!!!!!!!!

Since a cheap dual carriageway with average traffic over it is a minimum cost of $250,000 per k I seriously doubt you have paid for more a fraction of your journey...

We have more rd length per head of population that almost any other country on earth and only 20 odd million to tax for that.

Lets just put that into perspective on one project shall we. The Gateway duplication is costing 11 billion there are a couple of million people in Brisbane to pay for that & then we have hospitals etc etc etc etc & you think your personal taxes cover that do you? you do the maths...

Oh & last but not least If you don't love it leave, your bloody lucky to be living here at all, you could be in RUSSIA where if your house burns down you don't own the land it stands on and even very large companies can & do get taken over by physical force.

So_Cynical · 4 September 2009

gooner said:
Buckeroo

Firstly, let me say that is one of the most stupidest policies that waste money that I have every seen..

So u missed the last 4 years of the Howard Govt? the endless work choices and dob in a terrorist TV commercials at $10000 a pop....$100000 a day.

gooner · 4 September 2009

So_Cynical said:
So u missed the last 4 years of the Howard Govt? the endless work choices and dob in a terrorist TV commercials at $10000 a pop....$100000 a day.

Nope, saw them - they were a waste of money as well.

Macquack · 4 September 2009

Trainspotter, is this thing tax deductible?

The tax man

Trembling Hand

Can be found on the bid

skc

Goldmember

gooner

Trembling Hand

Can be found on the bid

rock86

overit

nunthewiser

knocker

knocker

Mr J

knocker

rock86

Mr J

rock86

trainspotter

nunthewiser

Vizion

So_Cynical

The Contrarian Averager

gooner

Macquack

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The tax man

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