Thread: How My Taxes were distributed

that is what taxes are for

Because of the massive fine revenue, law and order, mainly don't cost much, if anything these days. Ditto public housing, who where break even or better for a long time(for decades the successive state govt's collected without planning for the future), its just recently that a LOT of their houses have reached a used by date that they are starting to cost more to repair than they get in rent, or require a cash injection to redevelop the 3 bed 1/4 acre homes into 3, 3 bed townhouses.
My issue is the inequity in the tax system. If I was a small business/ sole trader, my tax would be half to one third what im now paying on my income. that disparity gets greater, the more you go up the income scale.

Originally Posted by frantic

My issue is the inequity in the tax system. If I was a small business/ sole trader, my tax would be half to one third what im now paying on my income. that disparity gets greater, the more you go up the income scale.

LOL, I don't know what your point is here?
A sole trader pays the same rate of tax as you. Every one gets the tax free threshold of $18 k odd.then so many cents in the dollars for each income stage
A sole trader can claim the cost of services and associated costs of purchasing goods, he must however pay 10% GST on every sale, this comes out of the bottom line which is his income ( wage you could call it)
Income is from profit derived, so you only earn if you are profitable.
No holiday pay, no sick pay, no superannuation. No hourly rate or penalty rate. The more profit the sole trader makes = more income a sole trader makes which is taxable, and it's the same bracket creep as some one on wages, so how is a sole trader better off?
He pays the same tax as you do but has to work longer hours and days.
We work 7 days a week, start in the morning and the last response is at around 11.30pm to midnight ( Perth is hours behind so there are enquiries), Sat Evening, Sunday morning phone calls from customers in trouble.
The hours put in if paid as an hourly rate, would equate to slave labour rates, but we do it as we are are own boss, answer to no one except ourselves and enjoy the business)

Originally Posted by frantic

My issue is the inequity in the tax system. If I was a small business/ sole trader, my tax would be half to one third what im now paying on my income. that disparity gets greater, the more you go up the income scale.

sorry frantic but for me that first and second sentence is utter drivel in the majority of circumstances.

the third sentence is closer to reality, but the bar starts a lot higher than the vast majority of mum and dad small business / sole traders.

the stats show many are just getting by.

the stats also show that the majority would drop everything and go with paid employment if they could only get that decent job with super and all the perks many workers take for granted.

Originally Posted by frantic

...If I was a small business/ sole trader, my tax would be half to one third what im now paying on my income. that disparity gets greater, the more you go up the income scale.

What complete rot.

I'm a sole trader, I pay the same tax as you. My Income is treated no differently than you (pay as you go) except maybe you have income tax deducted at each pay cycle and get to claim deductions annually whereas I have to pay income tax at each BAS statement (quarterly) and get to claim deductions at the same time also.

What I don't get is the amount of people that expect Roll Royce service from the Government while paying Datsun taxes. Contrary to popular belief our taxes are not high compared with other 1st world countries, but we continually expect to get services on a par with them.

I pay a **** load of tax - not as much as some, but certainly enough to pay someone a decent full time wage, but it needs to be paid.

Maybe the super rich could be hit up a bit more as they're really good at minimising their tax, but if we want the services the Government provide, then they have to be paid for - simples.

Taxes are the price of having a civilized society. Go to a low tax society and observe the chaos around you. Then come back here and be thankful.


The problem we have with taxes at the moment has more to do with who's paying and who's scamming the system. At the moment the system is biased towards giving tax cuts to the rich paid for by cutting help for the poor. Look at the overnight changes to super for example. Nine million people have their retirement incomes cut, but 16,000 people whose super funds earn more than $100,000 a year because their balances are so high get a tax shelter. Where's the fairness in that?


http://www.abc.net.au/news/2014-09-0...ax-win/5714066

Originally Posted by DiscoMick

...
Nine million people have their retirement incomes cut, but 16,000 people whose super funds earn more than $100,000 a year because their balances are so high get a tax shelter. Where's the fairness in that?


Super sting in the tail of mining tax win - The Drum (Australian Broadcasting Corporation)

We can blame Clive for that, he's one of the 16,000 and its his negotiation that got it there.

Its Mathias Corman's Win# Win* Win% comment but only for Mr Palmer.

# No mining Tax
* No increase in super payments to his employees for 11 years
% Tax shelter for his super income.