Bas,
I think you need a better accountant. All taxes are paid, and means testing performed on, taxable income. That is your revenue minus business expenses.
Taxable income = revenue minus business expenses. True. However that is not how different departments view it. It also varies by your business model.
I am a Sole Trader.
My parents are Sole Trader/partnership
My brother is Pty Ltd.
Sole traders do not get the seperation of business income versus actual wage that pty ltd gets. My brothers business turns double my own. But as he draws a small wage, he gets whatever the govmint offers. He does also have the backup of a daughter to claim upon.
The ONLY dept that seperates it is the ATO for my income tax assessment. I've applied for a health care card, and centrelink ONLY look at the total turnover. They do not factor in my operating costs. I spent half a day with centrelink trying to help me.....we were pushing to get me into the public dental system.
You say I need a better accountant. Well the 3 family elements all have different accountants, and as the number cruncher in the family I deal with all of them. The other 2 have looked at it and they agree with my own accountant...expect to pay more and get less for it.......unless i choose to breed.
Quote:
The handouts equate to a 2.7 % tax break for working families.
As wikipedia would say: "citation required".
Yep sorry, those numbers came from a radio interview dillard did here in melbourne. What I should have added was that it equates to 2.7% for those in the lowest tax bracket....dillards words not quite said that way.
Those kids will be changing your nappy by the time you stop paying taxes.
Nope they won't. I will be gone before i get to that point, euthenasia legal or not.
As for your previous question I haven't answered...i.e what country would I goto. I have several oppurtunities, some are 1st world, some are 3rd world. But whilst my parents are alive its a point in moot, however its a point i felt i needed to make to demonstrate my disdain towards a country i love so much.