Discussion in 'Wealth Creation & Management' started by adrenalin, May 4, 2015.
I'm sold. If it's good enough for IKEA, it's good enough for me.
I think this is another of those Double Dutch-Irish sandwich conversations.
so i have:
3xx employee working for me.
how can i pay remove myself from the tax ?
Where can i find out how many 'non-registered' foundations exist in Australia?
More of that 'maritime law' nonsense.
The link to http://truthology.org.au/ from their website is not encouraging
If it is i am going to be pissed off at being misled.
Those stupid retards that continue to wank on about life and maritime law and we are all legally considered Corporations bullshit
All full retards.
Stopped after 10 min of watching the video.
The guys is just another conspiracy nut.
A few examples from the first few minutes:
"they take blood from your child at the hospital to test all sorts of things - I can tell you, the rituals are still going on"
"What's the commonwealth? It's the sweat equity of the slaves"
"What corporation means: corpsus is dead, ation is to speak - a dead man's speaking"
"Check your bills, fines, your name appears in capital letters. Capitus Diminutius maximus - no rights, you are a slave."
Interesting stuff indeed but the guy doesn't know which hand is used to swear on the Bible and thinks 'job' is an acronym for 'just above broke'... Also couldn't find any info on how 'lot' means 'Location of Title' or that the Latin for University means 'one education' as he claims.
The surnames on licences, bank statements were all in caps, is that the strawman being notified of whatever?
yes seems like a Roman Control with brains.
I watched the whole thing - skip over the first 15 mins or so and the stuff about foundations might be of more interest.
Sounds like the freeman guys have finally found a way to operate outside of the taxation system - at least for now until the tax office catches up with it.
My understanding of the general idea is to operate within a structure that is self assessing and does not need to lodge anything with the tax office, so is never on the tax office radar.
That is until a regular business gets audited and questions get asked as to why invoices for plumbing services came from a foundation for saving blind whales.
There would also be the problem of how to handle the 'surplus' funds that might accumulate - as soon as they are used to buy anything that falls in the registered world (like property),
the laws about unexplained wealth might come into play.
Yes the foundations information itself is interesting, and fits within legal (they would say lawful) structures. But the basis of how they operate is at best dubious and at worst disastrous once the taxman realises these people, like trew said, are operating businesses behind a veil of a private charity.
I imagine once the ATO/Corporations Act updates, the charities and benevolent societies who genuinely operate out of foundations will be very disadvantaged, probably crippled, while these so-called sovereign citizens move on to abuse the next legal structure they believe gets them out of paying tax, without a thought of the people behind them who have been hurt.
Ok thanks for all the input so far.
I guess its a case of too many questions and not enough answers before anyone jumps in and tries it.
Instead of too much hearsay, I have emailed the man himself to join in on the conversation.
Hopefully he responds by joining the forum and we can get some clearer info on this very interesting topic.
So how would this work then?
1) you register a Panama Foundation
2) you open bank accounts in the name of this newly created/registered Panama Foundation
3) you operate your business/life via these newly opened bank account(s) and never worry about the ATO again?
Come on - let's share info/experience on this fascinating topic!
from my understanding, if you own a bank account, that means that you ARE part of the system. The only way to NOT pay tax that is constitutional and legal is to not have a bank account, and to operate in cash only. That is easier said than done as my empoyer will not pay me unless I own a bank account, but they are not compulsary, but they are if you want to get paid!
See the dilemma?
I would love help on how to get HR to pay you in cash if you close all bank accounts!!!
Plus, I thought about getting myself moved to be a contractor, but they don't exist in my organisation, so I don't know how it would go down.
I will file this in the too hard basket.
I dont believe that operating.a bank account per say equals must pay tax!
Rather it depends on the entity owning the bank account.
Eg a charity has a bank account but wont pay tax.
You'll need a AU biz for local ops, probably running at a loss due to costs paid to the offshore parent company for IP etc. so you can game the local tax system for some credits. At least that's how the big boys at Google/Apple etc. do it.
If you run your local business (sole trader or pty) at a loss for too many years in a row, then you'll get a knock on the door asking questions.
Separate names with a comma.