Test Paper No 3 AUSTRALIAN TAXING QUESTIONS
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All Australian Income Tax Payers are expected to be expert in the Australian Income Tax Assessment Act 1997: Pay far too much Tax - your own problem: Pay far too little Tax - your far much bigger problem.
(1) If the normal Income Tax threshold of a Taxpayer of Italian ethnic origin is
currently $6,000/annum, what is the optional Tax threshold of the average
Croquet Playing Australian family of two adults and three children - aged 12, 14
and 16?
(2) Approximately, how much more non-Taxable Income can the above family claim
if the mother was born in China?
(3) If an employee of Irish ethnic origin has a PAYG income of $50,000/annum
what is the least amount of Income Tax he is legally obligated to pay if he
lives in a de facto relationship with an Aboriginal Lady Artist with a BA in
Political Science - and both play Croquet?
(4) If a Nigerian refugee in Australia drives 60Km to and from work each day by
various routes can she claim this travel as a Tax Deduction?
(5) A female Government employee, originally from New Zealand, buys a new motor
vehicle. Can she depreciate it at 30% for a Tax Deduction - and also include
Interest, Insurance, Rego and operating expenses?
(6) Could a Kerry Packer employee (with a mental problem) buy a new Toyota from
Gold Coast Grand Motors, GST exempt?
(7) Could a Victorian Government employee of Vietnamese ethnic origin take her
two weeks annual holiday on the Gold Coast at "Bombora Resort Guest
House", Coolangatta Q. with all Travel, Accommodation, Meals and Wine as a
Tax Deduction? (8)
Could a person of Japanese ethnic origin and working in Bruce Ruxton's Victorian
RSL learn to play Croquet on the Gold Coast staying at the "Bombora Resort
Guest House", Coolangatta Q. as a Tax Deduction (including all the GateBall
and Croquet equipment)? NB. For Information on Taxation don't hesitate to check with the Australian Taxation Office Web Site: infoline Ph 13 61 40 |
(9) Could a non re-elected Labor Politician Sponsor his three children to
compete in a Gold Coast Croquet Competition as a Tax Deduction? ANSWER: Yes [ ] No [ ]
(10) Could a Journalist employed by the Gold Coast Business Review buy a dozen
bottles of the best Hunter Red Wine and have it Tax Deductible?
BONUS QUESTION: ANSWER: $................. (do not include cents) Further information may be required: "Duty
of Care" Consider: "A" just wants to have a good time - wine, women and song - taxed $18K. He is further hit by tax on his beer, cigarettes, fuel, new vehicles, and other commodities and services, thus reducing his capacity to cause inflation. "B", being smarter, prefers helping to create the Wealth of our Nation. He uses an ATO s221D PAYE Variation to minimise his Tax to Create Wealth. He would create employment for his family and increase their income producing assets. (QED) Both are equal though "B" is more equal than "A" when it comes to TaxPlanning. When anyone asks about how to find a good accountan/solicitor "they" say to go and interview a number of accountants or solicitors. If one looks like M. Monroe you might get a fringe benefit - otherwise try this test on them. If they respond by throwing you out of their office for being presumptuous - well - you have been. Presumptions: A good accountant/solicitor is one who has not already looted your savings or ruined your business. A better one is one who will get you back 50% of your legitimate tax refund. The best would know the answers to the above questions and treat the test as part of the first (free) interview to get your business. Anti-Discrimination Laws: A guide to some of your rights - we are still awaiting advice from them on the right to be Rich in Australia without abuse and discrimination from the poor or the media - or vote chasing pollys. Offices
of the:-
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