Always makes me scratch my head how at the end of every financial year the ATO releases target areas for tax avoidance. From memory the highlighted area for scrutiny was claims for laundry expenses for 2018/19.
shi thouse said.. Always makes me scratch my head how at the end of every financial year the ATO releases target areas for tax avoidance. From memory the highlighted area for scrutiny was claims for laundry expenses for 2018/19.
Just read that myself and downloaded the data. Interesting to sort by "Tax Payable" and take a look at some of the numbers. RTPDS must have a great set of accountants...
I am normally pretty critical of them, but at least it looks like the government have introduced some tax bill where they are encouraging companies that have structured their business to pay no tax in Australia, to start paying otherwise they can get penalties of twice the amount and it has already started making some companies change.
eppo said.. Target the low hanging middle class fruit. Money makes money and money keeps money.
Maybe we should all learn from this and do it . The system may then change. What then?
Need the first three words to make the last three words possible. And taxation of the middle class and small business whilst the Goliath global corporate masters of the universe dont, will avoid this scenario. There's a hole in the bucket de Liza deliza....
The ability/opportunity to "minimise" taxable income and therefore tax payable is really only available to businesses and investors, if you're neither of these entities; and lets face it there's millions who aren't; then you will be simply paying your PAYG tax just like everyone else. The thing a lot of people lose sight of is that to reduce your tax you must reduce your taxable income. Many people wish to reduce their tax bill but also have heaps of free cash available to spend and this is impossible
