Tax in Australia

http://www.ausnz.accaglobal.com/pdfs/international/australia/flattax_mar06.pdf

Just in case someone is interested in a very good article on current tax and an argument for flat rate tax, this one is a good one.
Clear and simple even when a tad long.

 

And when you want to shut it down?

 

If Australia got rid of some polititians and duplicity in state bodies that should be run federally, the tax would come down
I think OZ has the worst ratio of civil servants to private sector and polititians to public of any country in the world.

I remember a few years ago when someone found out both the Navy and the Army had more office workers than men/women in uniform, I wonder what kind of defense scenario they were working on?
And yes I like flat tax but not good for very poor same like VAT /GST
Living in Singapore you can appreciate how efficient good government can be ( cheap) and hence low tax.
Reagan was a good guy BUT he just sent all your money to Marcos..DOH
and the lifestyles of the US are funded by your bond purchasers, Japan and China, once they get tired of being given low value paper things will be different.
Imagine oil priced in Euros..till that currency dies as half of Europe will be retirees shortly..and Europe forgot to save up for that one.

No problem in OZ as they have the 3rd largest pot of money on the planet for retirerment.....with only 20m people and a young average age you can see how much trouble is coming for the other mature economies.

 

Technically, vhs and dvd players are robots.

 

I think any job will be done better by a robot than you.
You seams quite lost as for working.
But perhaps the light will come, who knows

Y.C.K.M.A.

 

Frosty, Mate, it seems that a lot of people writing on this forum really have never set foot even on a boat, anyhow mate, have a Happy New Year, and enjoy your boat whilst you can.....at least you live on board.....there is NO better boat than a live on board, as it all HAS to be working, unlike the dreamers that dream or actually have one stuck to the marina.

Cheers mate.

 

Thanks landlubber, Ille put you on my new years points list.

Yeah living on a boat is constant maintenance BUZZZZZZZZZZZ---SWAT ---BUZZZZZZ

Ever had one of those pesky flies that just wont Fck off and follow you around.

 

Living on a boat is a good way to evade the taxation problem.
I think Frosty is a professional at that.
The pesky flies do not exist, it is what happens when the booze is taking over. You hear fies and try to kill them

 

Oh you have not been over there? No taxation problems else no freedom

Frosty, I am surprised you do not have aircon & screens? - - one to slow down the ones that get in and two to keep the others out

 

Accountants took over the running of all ower businesses and destroyed them!
But that was just the coupdegrace being delivered to an already out dated system
Good riddance i say we can not keep working with out dated ideas, This was all set up in and by the industrialists"s (industrial revolution) The education system/The banking system/The governing system, All geared to supply labor to the mills and factories/ Control the movement of wealth/ and keeping us the lower class in its place eg (TAXES AND RENTS)
Now we face a new age and it will be painful perhapse, Dew to the chaos about to be unleeshed.
It is a very existing time to be alive, The 10% that own everything are loosing there grip(hip hip hooray m8) lets hang a few from every lamp post.
All 90% of us even the cattle amongst us are now aware (yes we can have everything) all of us!!!!
We freed the slaves/We freed women/Now lets free mankind from the drudgery!!
Some people love to organise stuff OK give the Germans a rubber stamp and let them organise the paperwork.
The Chinese can supply all the cars and electronics/The Australians can supply all the mutton/The USSR all the vodka/ You see Whare i am going with this.
You and me will still work on boats because that is what we do,Farmers will still Farm for the same reason etc etc.
At the moment NO WON DOSE THERE JOB NO ONE if they did it because they wanted to they wood do a much better job of it?
If everyone gave what was wonted for free then we can all get what we wont
and that is everything!!! for FREE EVERYTHING NO NEED FOR ACCOUNTANTS.
WHITCH IS WHARE I CAME IN GUY"S

 

close but Austraila shears sheep not really exports the meat.
If you have super fine wool the meat is crap.
Kiwi has nice lamb and the wool is all made into carpet

Only problem you have in Uk and Europe is your whole working career will be used to pay tax to pay the pensions of the the retirees


you forgot to mention lawyers....

 

Hi Powerabout.
I did not forget lawyers, I was saving them for last (got a special treat for them)
Ok well we will share the wool and send the meat to the Chinese its got to be better than Lassy?
I have never paid any tax"s, I take care to stay out of the country more than 90 days a year, In fact this is first time back in twenty+ years.
Been at sea for 40 yrs! more or less non stop. (on every thing that floats) and a few that did not????
Still look the concept is good if we can get a few more people on board we can get the revolution started, I know we can count on the Australians and i have friends on every island and Continent. Lets start 8 am GMT Monday morning? You have plenty of rope and lampposts right!!
Cheers m8

 

Shakespeare said it best.

 

The 90 days dont always cut it anymore...
http://news.bbc.co.uk/2/hi/business/8519803.stm
One thing you must do is send an email to your lawyer/accountant/etc to state that you are intending to retire/die to ....somewhere that does not have inheritance tax.

There was a precedent setting case that went to the ICJ (finished last year)to sort out an ex Brit, with assets in OZ, Singapore and UK who accidently dies in the uk when visiting as he was resident in Singapore.

The argument ended up being where did he intend to retire to as he had residency in all 3..no death tax in OZ or Singapore
One of my friends was the Singapore lawyer.

NB You can only make / have a will read in a country that you have an asset so buy shares or even a burial plot as one of my friends has done.

 

Ahhh....the main issue is finally raised.

The estate tax.

Troy makes some good points back awhile ago regarding concentration of wealth.

Here in the US the top 1%, in terms of net worth now controls as much of the nations assets as the bottom 90%.

It's estimated that the Walton family (of Walmart founder Sam Walton) has a net worth of $80 - $90 billion USD. Thats $80,000,000,000.00

The Walton family's net worth is roughly equal to the combined net worth of the bottom 40% of the population of the US. This one family is worth as much as about 120,000,000 of the least wealthy Americans. I'm no expert in demographics, but I'll wager that the bottom 120,000,000 in the US are probably pretty well off when compared to people in many other parts of our world.

Politicians can do what they want with income taxes.

For me the real issue is the estate tax.

There are many who will probably hate me for saying this but I believe that an estate larger than, say $5,000,000 to $10,000,000 USD should be taxed at a very high (read confiscatory) rate.

It is imoral for a very few super rich to amass vast wealth while literally billions of people suffer poverty, disease and death.

What frightens me most is that I see great social unrest in the future as the populations of the western democracies and the US in particular eventually realize the inequity of the current system.

For me it's not about who gets what. It's more about......

How much does one man really need?