Objectives: Simon Jones operates a metro based private investigator business providing investigatory and surveillance services. When Simon visited his accountant, he said he was concerned about potential legal claims from unhappy individuals they had investigated on behalf of clients. Facts: $260,000 gross fee income. $80,000 business wages, contractors and overheads. Single. Current tax…
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The Plantagenet Kings of England had the medieval right to require Maritime towns and counties to furnish them with ships in times of war. This duty was sometimes commuted for money, which became known as ‘ship money’. Ship money was unique as it was one of the few taxes the Monarchy could levy without the…
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Corruption is a form of dishonest or unethical conduct by a person entrusted with a position of authority, often to acquire personal benefit. Government or political corruption occurs when an office-holder or other governmental employee acts in an official capacity for personal gain. Corruption creates the opportunity for increased inequality, reduces productivity, growth, investment and…
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This strategy involves employee’s salary sacrificing $1,000 of wages income (which is taxable) for $1,000 of employer provided goods or services (which is tax free). The goods or services provided by the employer must be same ones as they sell to their customers. So a clothing retailer for example, could provide $1,000 of free clothing…
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Average weekly pay: $804 Employment size: 120,000 Future growth: Strong Skill level Certificate II or III Waiters serve food and…
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In ancient times, salt was essential to preserve food and maintain people’s health. Humans require salt in their diet as through sweating their body loses salt every day. If this salt isn’t replaced then the resulting sodium deficiency can cause weakness, fatigue, vomiting, dizziness, shock, and even death. A…
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The recent Panama Papers leak revealed how the global elite use offshore companies in tax havens to send money abroad to keep it away from their future exes. These high-flyers are seeking to make sure their soon-to-be ex-wives and husbands don’t obtain half of their fortunes after a breakup. Spouses in divorce proceedings often use…
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Objectives: John James, a young employee electrician, visited his Ellenbrook, WA accountant to prepare his 2017 tax return. During discussions John talked about the difficulties of being a sole income family, and how he would like to increase their family cashflow and save tax. Facts: $98,540 wages income. Wife (not working) and one…
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Average weekly pay: $6,000 Employment size: 13,200 Future growth: Decline Skill level Bachelor degree or higher Pilots fly aeroplanes to…
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A hearth is a brick or stone-lined fireplace used for heating and cooking food. The word ‘hearth’ derives from an Indo-European root, ker, referring to burning, heat, and fire. For centuries, the hearth was the central and most important feature of a home and from this originated the saying, ‘keep the home fires burning’. A…
Read More »"You’d be stupid not to try to cut your tax bill and those that don’t are stupid in business"
- Bono: U2