TAX reduction, not for you! for people who earn real money!

Discussion in 'Wealth Creation & Management' started by Jislizard, Dec 5, 2012.

  1. Jislizard

    Jislizard Well-Known Member Silver Stacker

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    from the "Daily Mash" http://www.thedailymash.co.uk/news/business/tax-negotiable-2012120351605


    Tax 'negotiable'
    03-12-12


    YOUR tax bill can be negotiated over a cup of tea and a chocolate Hobnob, officials have confirmed.

    Her Majesty's Revenue and Customs revealed that tax laws are all very well, but what really matters is having a nice chat about how much you think you should pay.

    A spokesman said: "We've always been very laid back about collecting tax.

    "Sure, at the end of the day the government needs money, but it doesn't mean we have to stop being friends.

    "How are you fixed on Thursday morning? Why don't you come in about 11ish and we'll have a look at your numbers? But don't worry, it's not like it's a 'big scary tax thing'. What we're really trying to work out between us, as chums is how much you want to pay.

    "It's good for you, because we're guessing that you don't really want to pay very much, and it's good for us because we don't have to trawl through all of these very complicated tax laws which none of us really understand.

    "And even if we did understand any of it, the whole thing would still take ages and be really, really dull.

    "Anyway, are you okay with the chocolate Hobnobs? If you like Penguins we can do Penguins. Honestly, it's no bother."

    The spokesman added: "Oh Christ, I'm really sorry, but I've just realised I should have said that 'tax chats' are only available to large corporations.

    "You, on the other hand, will do exactly as you are f'ing told."

    From "The Brixton Pounds" facebook page

    [​IMG]
    Source: http://www.facebook.com/photo.php?f...et=oa.297840967000601&type=1&relevant_count=1


    Tax, it's for suckers!
     
  2. Auspm

    Auspm New Member

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    Society is filled with people at all walks of life who want everything given to them by the tax payer - but no one wants to contribute.

    Big business is just a convenient scapegoat and target, but the reality is that this culture of avoiding tax & claiming your 'fair share' from the public fruit basket as a right permeates all the way through society.
     
  3. House

    House Administrator Staff Member

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    Good on them I say!
     
  4. bloomst

    bloomst Well-Known Member Silver Stacker

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    Where I grow up, the name of the game is how little tax you need to pay in order to avoid being audited. And if it fails, we play the second game, how much do we have to put in the envelope to avoid being audited?

    I learn this before I learn how to shave!
     
  5. Jislizard

    Jislizard Well-Known Member Silver Stacker

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    Same as Greece then...
     
  6. renovator

    renovator Well-Known Member

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    Jesus thats a bit rich coming from you . Your one of the biggest advocates of not wanting to pay tax on the site & who expects the most ....then you post that ^^^^^ :rolleyes:
     
  7. DanDee

    DanDee Active Member Silver Stacker

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    Two excellent replies ! Good on them and god bless them. Big Business should pay no tax. Very big business should be subsidised by taxpayers.
     
  8. DanDee

    DanDee Active Member Silver Stacker

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    Renovator, don't play the game with the mans balls ! (or whatever the saying is)
     
  9. Jislizard

    Jislizard Well-Known Member Silver Stacker

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    Big Business isn't really a scapegoat if they are actually doing what it is claimed they are doing.

    However big business isn't getting use out of the schools and welfare and all the other things that the tax is being paid for. They also have to put up with all the BS from the government and have to pay plenty for fees and licences which the general public isn't hit with.
     
  10. Jislizard

    Jislizard Well-Known Member Silver Stacker

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    I wonder how much they pay their tax accountants to avoid the tax, it must be worth it!

    I minimise tax by having a crap job and massive debts.

    I think that the companies should share their bounty by lending their tax accountants to the general public during the off season so that we can all pay zero tax, or at least, they can stop charging GST on their products.
     
  11. Big A.D.

    Big A.D. Well-Known Member Silver Stacker

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    Er...so where does the workforce that can read, write and do sums come from?

    I mean, I like my iPhone and everything but I'm pretty sure it didn't get to the store on a road that Apple paid for.
     
  12. Elemental

    Elemental Active Member Silver Stacker

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    I look at these and there is no factual basis. The very first one says 1.8m in tax on 3.35b in sales. Fact is I could have a trillion in sales, if I haven't made any profit I wont be taxed at all. #2 says $40m in profits last year and no tax, maybe they had big carry forward losses from establishing and expanding in previous years. #3 Parent company pays 2% tax - 2% of what? Sales? Profit? Parent companies are taxed via consolidation so if all the tax has been paid by subsidiaries why should they pay again?

    Lots of companies avoid paying tax by moving operations offshore, maybe if the theiving governments in their own countries weren't so greedy (like 30% in Australia) they wouldn't have to take that action.

    I get sick of hearing about these things - like rich Australians who pay no tax. I usually point out that those wealthy individuals probably pay no tax becuase the companies they control are paying 30% and it is the companies that own everything and the individuals themselves more than likely make no taxable income. In Australia, there is no way a company is getting away with paying less than 30% on profit and no way an individual is paying less than their marginal rate. It is law and they are audited and would be forced to comply if they didn't pay. Complain about the banks making billions all you like but remember that a $5b profit for the bank probably paid for your entire states health care in tax revenue.

    #stopwastingyourtimeworkingouthowmuchotherspayintaxandearnmoremoneyyourself
     
  13. Jislizard

    Jislizard Well-Known Member Silver Stacker

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    Overseas!
     
  14. bordsilver

    bordsilver Well-Known Member Silver Stacker

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    If the Government didn't enforce a monopoly for its inefficient provision of road services at the point of a gun then we would have private roads and/or private transportation networks and your argument is moot. We taught our daughter to read, write and do sums before she even started school so they can get their fat snout out of education as well.
     
  15. Big A.D.

    Big A.D. Well-Known Member Silver Stacker

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    Multinationals often use a strategy called transfer pricing to move profits offshore. This is money which would usually be taxed in one country but they make up a reason to shift the money so it isn't taxed.

    One technique that has been used for a long time is based on a "logo fee": Say GiantCorp is running a business in Australia. They set up a shell company in the Cayman Islands and shift the ownership of the GiantCorp logo to that Cayman Islands company. GiantCorp AU Pty Ltd then pays GiantCorp Cayman a fee for the right to use the well-known GiantCorp logo in marketing the Australian business.

    The Australian business has made $1 million in profit on $5 million in revenue, but some time on June 30 GiantCorp AU pays the "logo fee" which some accountant somewhere decides should be $950,000. At the end of the financial year - close of business on June 30 - GiantCorp has made a final profit of just $50k. The tax liability (30%) is calculated on $50k so GiantCorp only pays $15k in tax rather than $300,000.

    On July 1, GiantCorp Cayman sends the money back to GiantCorp AU as a loan for "working capital to expand GiantCorp in Australia" i.e. business as usual.
     
  16. Jislizard

    Jislizard Well-Known Member Silver Stacker

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    Sneaky buggers!

    I was aware that some large companies held the local gov to ransom, effectively saying "If you don't give me a tax break we are going to move our operation to another state and you will have to explain to your voters why you made them unemployed".

    I am sure that I read somewhere that Australia Zoo threatened to relocate if it didn't get a few more incentives to stay.
     
  17. Elemental

    Elemental Active Member Silver Stacker

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    There are rules. If companies break the law they are subject to audit and penalty like everyone else. Do companies use every inch available under the law? Maybe they do but the law is the law.

    http://www.ato.gov.au/content/35283.htm
     
  18. Dogmatix

    Dogmatix Active Member

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    ^ wow Big A.D., very interesting to see the mechanics
     
  19. Auspm

    Auspm New Member

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    Separate issue.

    I agree zero tax is the ideal, but as you point out, we don't live in a perfect world.

    It's fair to take note of the fact that those who benefit most from public services ironically pay the least amount of tax. It's not a point of hypocracy to note what is happening in reality.

    My point is the media like a good corporate beatup to rile up the masses and increase circulation for their bottom line and it's hypocritical, considering tax avoidance is a national pass time in this country at all levels.

    I pay tax and what's the attitude of being a contributor in this country? You're a fkn idiot, right?

    Yet *everyone* has their hand out for the government to give them more of the public pie, whether you're willing to pay tax or not.

    So exactly who's the hypocrite here? They guy who's paying his share of tax and being critical of the system, or those who pay no tax and are critical of tax payers who complain?
     
  20. Nugget

    Nugget New Member Silver Stacker

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    The solution is simple. When Fidel Castro nationalised US owned companies operating in Cuba he paid the full face value based on their own tax returns.
     

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