"Who Can TaxPlan?
   Australia is a member of the United Nations and, as such, must allow everyone the "Freedom of Choice". In this case, the Choice is between being a "Master or a "Servant"  e.g. being a Master Mechanic/Professional or a Public, Private or Domestic Servant. In law this means having a "Master to Master" (contract) or a Master to Servant (employee) relationship.

    Master Race:
    Anyone can be a "Master" to contract in his own right. But you must do it right to succeed in TaxPlanning.

    How Old?
    A two weeks old baby doing TV commercials is a "Master" (through the Parents) for it is legally, too young to be an employee (servant).

   Master TaxPlanner:
   Only a "Master" can *TaxPlan - as he takes the risk and invests his own money, wealth and credibility. He is not protected by Worker's Compensation nor a Union nor any of the other impediments to full time (24 hours a day) employment.

* Employees can minimise their Income Tax by paying Union Membership fees or donating to a Registered Charity or Political Party

    Servants are Limited:
    On the other hand, servants (employees) are limited. Serfdom, slavery, bondage or servitude has almost been abolished. Legally they can own property in their own right.

    Servants Profit or Gain:
    If they can own property they can also sell it for a profit or gain so Capital Gains Tax was introduced to allow the  ATO to get a piece of the  "Servant's" action or private enterprise.

     Bad News for Servants:
     The bad news is that Capital Loss can only be balanced against future Capital Gain and not against employee income.  CGT, naturally, is at the employee's highest (marginal) rate unless he changes to TaxPlanning. The old system using 1/5 of the CGT added to personal income etc. etc. is no longer used but the CG is discounted by 50% for nice people.

    Good News for Servants:
    If he is "in Business" too, (i.e. Moonlighting) he can TaxPlan that rate  to the lowest  i.e. Nil for the first $6K, then 17% to $20,000, 30% up to $50K, 42% up to $60K then 47%.  (QED)

    Criticism and Control People:
    Criticism or Control is not, for tax purposes, considered an asset. Thus a journalist, as an employee of a media group - or an accountant working for an employer (both Critics) - or a Government employee (Controler) - cannot really TaxPlan..

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   Creative People:
    A Creative, rich person  is willing to risk his own time, money and credibility to add to the Common Wealth. He can TaxPlan not to pay tax for years while he builds up his family Assets and Creates employment.
       Hopefully, he eventually becomes wealthy, pays tax and retires, at no expense for the Government.

    Spits Chips:
    Critics and Controllers spit chips and raise a lather of sweat at this apparent inequality. Unless they become Creative people themselves, they just have to accept this blasphemy and ask, "was it ever any different?"

 The Critic doesn't Count:
  In the end, you see, it's not the Critic that counts, nor the man who points out how the strongman stumbled, or the doer of deeds could have done them better.

   The Man in the Arena:
   The (tax) credit belongs to the man who is actually in the arena. Whose face is marred by the dust and sweat and blood. Who strives valiantly .... Who errs and falls short again and again ... Who knows the great enthusiasms, great devotions and spends himself on a worthy cause.

   High Achievement:
   Who, at the best, knows in the end  the triumphs of high achievement, and who, at the worst, knows if he fails, at least he fails while daring greatly, so that his place shall never be  with those cold and timid souls who know neither victory nor defeat.

  He is Master:
   He is master not servant and can carry his business losses as tax deductions for ever.
 

   Family Planning:
   Only the Tax Payer can TaxPlan - which is really about family planning for the future. He might obtain advice from an accountant or financial planner. Anyone can be an accountant or financial planner. However, remember this. Everyone in Australia (except you and me) is 20% bent. Some are totally bent if the spoil is worth it.

    The Individual Tax Return:
    Every Tax Payer must fill in an Individual Tax Return. The ATO has gone to great expense to produce the "TaxPack" and it's Supplement which explains practically everything needed to TaxPlan.