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Does it matter what the business is!?!?
SHOULD'VE DONE THIS BEFORE INTERNET CONTRACT!
General Thread v2012 #2
Started by Morgan, Feb 01 2012 07:25 AM
7676 replies to this topic
#4341
Adam
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Posted 20 February 2012 - 07:49 AM
#4342
skillionaire
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Mr. Freshley
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Posted 20 February 2012 - 07:51 AM
Once you have an ABN, remember to never make any money!
https://abr.gov.au/
You need to open it in Explorer though. Government sites are hilarious like that.
https://abr.gov.au/
You need to open it in Explorer though. Government sites are hilarious like that.
#4343
Shaz
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Differential Studios
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Posted 20 February 2012 - 07:52 AM
You can still claim your internet usage Adam, even if its in your personal name.
You see, I use at least 60% of my internet every month for "business purposes". Therefore, 60% of my annual internet bill is reduced against my taxable salary, therefore making the tax i've already paid, too much, and then the government is required to refund me the extra tax i've paid.
You see, I use at least 60% of my internet every month for "business purposes". Therefore, 60% of my annual internet bill is reduced against my taxable salary, therefore making the tax i've already paid, too much, and then the government is required to refund me the extra tax i've paid.
I put up with people from amnesty, red cross and now the cancer council almost daily hounding me!! Throw in the greens, green peace, unhcr, save the forking children and I've well and truly hit my limit for the number of fuckstains wanting me to sign something or give money. Seriously cubts,right off.
#4344
skillionaire
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Mr. Freshley
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Posted 20 February 2012 - 07:54 AM
Also, Shaz, for personal ABN he will need to set up PAYG too, correct?
"business purposes".
#4345
Shaz
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Differential Studios
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Posted 20 February 2012 - 07:54 AM
Also, Shaz, for personal ABN he will need to set up PAYG too, correct?
Not if he is the only employee under his ABN.
If you actually employ someone then he will need to register for PAYG.
I put up with people from amnesty, red cross and now the cancer council almost daily hounding me!! Throw in the greens, green peace, unhcr, save the forking children and I've well and truly hit my limit for the number of fuckstains wanting me to sign something or give money. Seriously cubts,
#4346
skillionaire
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Mr. Freshley
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Posted 20 February 2012 - 07:57 AM
Won't he then be up for lump sum tax? I guess if he's not 'making' money he'll be fine anyway?
#4347
Shaz
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Differential Studios
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Posted 20 February 2012 - 07:58 AM
Won't he then be up for lump sum tax? I guess if he's not 'making' money he'll be fine anyway?
Only if his overall gross business income exceeds $70k, and he isn't registered for GST.
Also, in NSW, if you start a new business, you get an Entrepreneurs Tax Offset for the first year, which makes the first $5000 in gross business profit tax free.
I put up with people from amnesty, red cross and now the cancer council almost daily hounding me!! Throw in the greens, green peace, unhcr, save the forking children and I've well and truly hit my limit for the number of fuckstains wanting me to sign something or give money. Seriously cubts,
#4348
skillionaire
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Mr. Freshley
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Posted 20 February 2012 - 08:01 AM
Understood.
Oooh, that would have worked nicely for your Shinting business?
Sun just waking up over here. Hello sun.
Oooh, that would have worked nicely for your Shinting business?
Sun just waking up over here. Hello sun.
#4349
Adam
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Posted 20 February 2012 - 08:01 AM
How do I not make any money!?!?
#4350
Shaz
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Differential Studios
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Posted 20 February 2012 - 08:02 AM
Understood.
Oooh, that would have worked nicely for your Shinting business?
Sun just waking up over here. Hello sun.
Works great for me. I generally keep my taxable income for my business around the $5k mark, or as close to it as possible, then add back in my deductions and it works out alright.
I put up with people from amnesty, red cross and now the cancer council almost daily hounding me!! Throw in the greens, green peace, unhcr, save the forking children and I've well and truly hit my limit for the number of fuckstains wanting me to sign something or give money. Seriously cubts,
#4351
Ren-dog
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Posted 20 February 2012 - 08:02 AM
Morning GT.
Recap on recant events?
Recap on recant events?
NEEDS MOAR PEANUT BUTTER
#4352
skillionaire
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Mr. Freshley
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Posted 20 February 2012 - 08:02 AM
How do I not make any money!?!?
Spend it.
#4353
Adam
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Posted 20 February 2012 - 08:03 AM
I could genuinely open a business for drafting work (I guess) but not actually do any work.
Does my income from my current job get put into that "not make any money" bracket?
Does my income from my current job get put into that "not make any money" bracket?
#4354
skillionaire
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Mr. Freshley
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Posted 20 February 2012 - 08:05 AM
Morning GT.
Recap on recant events?
Adam did gardening.
Shaz lost his hankercheif.
Lukosh didn't sleep enough.
I remain awesome.
You still need spell check.
#4355
Adam
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Posted 20 February 2012 - 08:07 AM
Adam did gardening.
Shaz lost his hankercheif.
Lukosh didn't sleep enough.
I still can't work out teamspeed images
You still need spell check.
Fixed
#4356
skillionaire
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Mr. Freshley
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Posted 20 February 2012 - 08:08 AM
#4357
B4TT
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Soviet Leader
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Posted 20 February 2012 - 08:15 AM
Adam, deduct everything 
can claim upto $300 of like protective shit without receipts. I claim part of my mobile phone bill, part of my home internet, Travel expenses, donations, car mag subscriptions etc
can claim upto $300 of like protective shit without receipts. I claim part of my mobile phone bill, part of my home internet, Travel expenses, donations, car mag subscriptions etc
#4358
Adam
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Posted 20 February 2012 - 08:18 AM
What protective shit do I need as a draftsman sitting at a desk!?! Lol
Is there anything that can e claimed for uni?
Is there anything that can e claimed for uni?
#4359
skillionaire
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Mr. Freshley
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Posted 20 February 2012 - 08:20 AM
FLYING LEAD REPLACEMENTS
#4360
B4TT
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Soviet Leader
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Posted 20 February 2012 - 08:22 AM
new computers/upgrades/hard drives etc.
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