Company pays PAYE tax in advance of EOFY for workers - workers should reasonably have the same deductions as a company since they are both in the business of earning income - the car, the home base, the power bill, the loans .... and then when the worker's net income falls below minimum, they get a full refund... easy as pie.

Is the company taxed?

Is it's machinery having a tax imposed on it after it's company tax?

Does a company pay tax on robots?

Setanta wrote on Mar 2^nd, 2019 at 9:31pm:


Yes.

Setanta wrote on Mar 2^nd, 2019 at 9:31pm:


If you are alluding to the workers - They're not part of the income earning structure of the company. They are at a leel below the company structure.

Setanta wrote on Mar 2^nd, 2019 at 9:31pm:


yes GST, possibly import duties, set up costs.

Setanta wrote on Mar 2^nd, 2019 at 9:43pm:



Nope. Robots aren't sentient.

Setanta wrote on Mar 2^nd, 2019 at 9:43pm:


So because that was done 100 yearsago is a eason to do it now?

Setanta wrote on Mar 2^nd, 2019 at 9:43pm:


But workers make money, otherwise they can't afford a Friday night p*ssup. Therefore workers pay tax.

Setanta wrote on Mar 2^nd, 2019 at 9:49pm:


For whom?

Setanta wrote on Mar 2^nd, 2019 at 9:49pm:


Oh GST and income tax.

I am on a part pension. So according to you I should not pay GST on my consumption. And I should not pay income tax on my income.

The investment helping millionaires live tax free   

New research shows wealthiest people in Australia are forking out big bucks to ensure they pay no tax. This is how they do it.

news.com.au February 23, 2019


Frydenberg accuses Labor of a tax grab for retirees

It’s called “the art of deduction” and it is making sure multi-millionaires pay less tax than ordinary wage earners.   

Research by the Australia Institute released today shows some Australian earners pay more than $170,000 a year on tax advice, and that it is a lucrative investment.

The research says that in 2011-2012, 75 individuals who earned more than $1 million in pre-tax, gross income paid no tax.

They had deployed deductions so large their taxable income was reduced to below the tax-free threshold.   

And among the deductions were claims for excess franking credits, a so-called tax refund the ALP wants to eliminate.

Also among their deductions was the bill for getting someone to manage their tax affairs. Labor wants to cap such deductions at $3000.

They spent around $174,201 on this management, and the research says this was managing 23 times more than fellow wealth earners whose taxable income stayed above $1 million.

The research figures make clear most of us might spend at most a few hundred dollars on advice and end up paying more tax than the very well off who exploit what the Australia Institute calls “unfair loopholes”.   

“What these taxation statistics show us is that most people who pay for help managing their tax affairs spend a few hundred dollars, but there is a very small minority who are spending considerable sums of money to manage their tax affairs,” says Matt Grudnoff, senior economist at the Australia Institute.

“These people are more likely to have large gross incomes and some of them have been very successful in reducing the amount of tax they pay.

“When these unfair tax loopholes, such as refunding excess franking credits are rorted by wealthy individuals they should be closed as soon as possible.

“Doing so will not only make the taxation system fairer and more progressive, it will also discourage the largely unproductive industry focusing on finding and using complex tax loopholes.”

The AI uses the findings to brand the tax advice industry as “problematic not only because it undermines our progressive income tax system, but also because it is highly inefficient”.

“Money spent avoiding tax could be more productively spent elsewhere and some of our brightest people spend their energies on unproductive work when they could be producing more socially desirable goods and services,” say the findings.

The research found those with both a gross and taxable income over $1 million spent on average $7,476 on managing their tax affairs.

Those with a gross income over $1 million but had reduced their taxable income to under $1 million spent $26,124.

Those with a gross income over $1 million but enough deductions to

reduce their taxable income below the tax-free threshold and paid zero tax, paid $174,201 on managing their tax affairs.

This is 23 times more than those whose taxable income stayed above $1 million.

Setanta wrote on Mar 2^nd, 2019 at 9:36pm:


They may be working, that doesn't make them a business. If they were subcontractors they may be a business. But subcontractors get paid for work done, not doing 9 to 5.