Tax Man

[Robbo]

Look out there after owners of planes

 

http://www.smh.com.au/business/tax-office-trawls-for-owners-of-boats-planes-horses-20160119-gm8v1w.html

 

 

[kaz3g]

It's alright mate...they are only looking for wealthy people. Owning a small aeroplane is the first step to insolvency!

 

Kaz

 

 

[frank marriott]

"The Tax Office defines "wealthy individuals" those who, together with their business associates, control net wealth of $5 million or more"

 

I don't think it will apply to most RAA type owners.

 

I don't know about those wealthy Auster owners!!!

 

 

[Bruce]

I don't understand how all the lost manufacturing jobs can so easily be replaced with government jobs. Where does the tax come from to pay for this? Or is it ok to just print the money? Why not?

 

Yes I know the government workers themselves pay tax, but this can't help that much. So how does it work?

 

Maybe we should all work for CASA ?

 

 

[bexrbetter]

Oh let me tell you about the Aus Tax dept.

 

Lived in China for 10 years, get a tax fine and threats late last year for not paying tax for 3 years - my Oz Accountant puts in a zero earnings (whatever it is for living overseas) every year, the effort it took to get them to cancel it, including threat for me to be taken to Court, was effin frustrating and even then when they finally cancelled it, it was written in a condescending "We're doing you a favour, you're lucky this time" type wording, that really got up my goat, azzhools.

 

I was pretty fortunate IMO to get a really great guy late in the proceedings who actually cared in Tasmania and I believe he made effort to see it through to conclusion.

 

... but I won't be surprised if I see another one in the next few years ...

 

 

[Bruce]

I reckon those tax men hatch their plots in blood-stained dungeons.

 

There are 2 ways to take somebody's money: you can do something nice for them, like sell them an engine. Or you can do nothing nice, but if they don't pay then they will be disposessed and brutally incarcerated.

 

The first group of people give us civilization. The tax men belong to the second lot.

 

 

[Gnarly Gnu]

The Aus tax office are quite good overall in comparison to the IRS in the USA which has become a strong arm extension of government - quite literally auditing and financially obstructing your political enemies.

 

 

[Bruce]

That's shocking Gnarly.

 

 

[bexrbetter]

The Aus tax office are quite good overall in comparison to the IRS in the USA which has become a strong arm extension of government - quite literally auditing and financially obstructing your political enemies.

It's amazing that they chase up Americans living overseas and working, for taxes on their wages earn't in that country.

 

They literally have to pay tax twice, once in the country of earnings and then to the IRS, and on the original gross wage.

 

 

[bexrbetter]

The Aus tax office are quite good overall in comparison to the IRS in the USA which has become a strong arm extension of government - quite literally auditing and financially obstructing your political enemies.

It's amazing that they chase up Americans living overseas and working, for taxes on their wages earn't in that country.

 

They literally have to pay tax twice, once in the country of earnings and then to the IRS, and on the original gross wage.

 

 

[Bruce]

Bex, if you ever come back to Australia, be very careful. They will try to rob you and worse. You would think that overseas earnings would be treated differently on account of how you did not use any Australian infrastructure.... wrong.

 

They are a truly wicked lot, only surpassed by the US Inland Revenue.

 

 

[dutchroll]

It's amazing that they chase up Americans living overseas and working, for taxes on their wages earn't in that country.

They literally have to pay tax twice, once in the country of earnings and then to the IRS, and on the original gross wage.

Be warned! The ATO do that too.

 

My wife had to be very careful when she worked in the USA for a year in a surgical fellowship.

 

The USA and Australia however have a "double taxation agreement". In other words if you're an American working in Australia, or an Australian working in the US, you can't be made to pay tax twice. However this only applies to what you would've been taxed on your earnings in your home country. Which works great for Americans working here with their low tax rates back home. Not so good for our Australian 40 something cents in the dollar tax rates! This means an Australian working in the USA could be made to pay "top-up tax" when they return.

 

So it is entirely dependant on how long you are working in that country (ie, where is your primary place of residence, and that is arbitrarily defined by the tax office) and whether we have a double taxation agreement with them.

 

Moral of story: before you take a temporary job overseas with a plan to return to Australia, consult a good accountant and know what you're in for!