A recording of comments made by the Liberal candidate for the Victorian seat of Chisholm appearing to describe LGBTI issues as “ridiculous rubbish” has emerged after she claimed yesterday that stories about it were “fake news” and not representative of her own views.
The Dutton defence - she was only relaying what she had been told and that it was taken out of context. But she put it out in a Chinese cultural context.
120k CAs, similar numbers with CPAs, the RE industy 120k+, Banking industy, small business industry, retirees + all the related parties. The numbers start to eventually stack up.
They are certainly kicking the hornets nest here (and to date most of the messaging from the above has been out of the limelight)
This is really the ALPs election to loose here, but this has a small whiff of a Trump style result.
Many Accountants spend all their waking hours devising ways to evade tax. You don’t seriously believe that all the evasion schemes and tax rorts are the creation of business owners.
Now maybe that is their job, but it does allow the rich to get richer and the rest of us having to carry the tax burden.
And if your Accountant cannot do your tax and other related stuff for under $3000 a year then I bet he is saving you a lot more than that with a scheme or a rort.
I’m a small business owner. I actually asked my accountant, as would most, “how do I minimise tax”. His highly technical answer was “contribute to your Super or buy an investment property. Virtually everything else is at least slightly dodgy and may come apart at the seams one day”.
I will take things that never happen for $400, thanks.
Most people will default to the easy option with regards to tax, will not tax plan and will not budget. Hence why the government loves people to use mytax. Easy to lodge and hello easy to miss your allowable deductions = more money for the government. Keep the masses in the line and hope they don’t ask questions.
Reality is we have one of the most complex tax systems in the world with two tax acts (36 and 97) and every Australian tax resident has the right to get advice to understand and navigate the system.
There is so much that can go into a $3,000 bill (which is only 10 hours work at $300 h/r). Tax planning, CGT advice, inheritance tax issues, investment property, tax/non-tax residents, ATO tax audits, private rulings, employee share advice etc
It is stupid policy. Fingers crossed they persist with this stupid policy and the silent minority become the silent majority (who stay of twitter and away from polling stations)
You can pay as much as you like for Accountants, you just will only be able to claim the first $3000, no different to many other allowances for individuals.
Business is exempt.
And our Tax Legislation may be voluminous, but personal income tax is very simplified, especially when you compare it to many other places like the USA.
It is Company Tax that is the big issue, with too many options to avoid and evade.