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The Pub For General Automotive Related Talk |
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#61 | |||
they call me Tibbo
Join Date: Dec 2004
Location: Brisbane
Posts: 6,163
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#62 | |||
FF.Com.Au Hardcore
Join Date: Jan 2009
Posts: 2,653
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#63 | |||
FF.Com.Au Hardcore
Join Date: Jan 2009
Posts: 2,653
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#64 | |||
they call me Tibbo
Join Date: Dec 2004
Location: Brisbane
Posts: 6,163
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#65 | |||
FF.Com.Au Hardcore
Join Date: Jan 2005
Posts: 14,654
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Quote:
I do get tired of the constant grizzling of typical 9-5 "takers" who do the minimum and expect everything in their lap, then begrudge those who work hard, take a risk and get the rewards....
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335 S/C GT: The new KING of Australian made performance cars.. ![]() |
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#66 | ||
FF.Com.Au Hardcore
Join Date: May 2008
Posts: 1,536
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This is totally off topic from op.
But I have to add my two cents. I am a business owner. I have over the years worked for myself a few times. As a general rule I have bought "doomed businesses" built them up over a couple of years and sold them for a reasonable profit. Sort of like buying crap houses and doing em up. For all the people out there that are saying that business owners get to much take a step back hey. Everytime I have brought a business I have put my financial life on the line. Many times I have sat there at the end of a 100hr week and gone to myself "what have I done". Until you go out there and try and do it yourself you have no @#$%^%$ idea how hard it is and what a stress is involved. We recently moved form OZ to NZ. We sold everything we owned to open our 1st business here. All the locals we spoke to said we would fail as many have tried to start this type of business here and all have failed, yet we still gave it a go. All of this was off our own money, we have nothing except the company. Here we are 5 months down the track. The company has grown from 1 business to 2 and I am in the process of opening the 3rd one. All of this means mysellf and my wife are working 85-95 hrs a week and only paying ourselves the princely sum of about 200 a week each. My wife works else where part time for $180 a week which covers our home rent. This is something I don't see changing in the next year maybe 2. But at this point our employees earn almost 3 times what we do. So for all of you that complain about what "tax breaks" business owners get until you have made the sacrifices that we make when we put our LIVES on the line you are in no position at all to comment and quite frankly you have no idea at all what you are talking about. Sorry to op for hyjacking thread but it needed to be said. |
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#67 | |||
they call me Tibbo
Join Date: Dec 2004
Location: Brisbane
Posts: 6,163
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Quote:
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Last edited by Racecraft; 24-05-2009 at 12:17 PM. Reason: spelling.. |
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#68 | |||
FF.Com.Au Hardcore
Join Date: May 2008
Posts: 1,536
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20hrs a day only to lose about $100 a week. Thank god I got an out or it would've ended in tears for me. This is the side of things that the average 9-5 will never ever understand. |
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#69 | |||
Regular Schmuck
Join Date: Dec 2004
Posts: 5,640
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It's just as much hard work?!? I guess it depends on how much you put into it. I was a part owner in a small business and the work hours I had to put in just to break even wasn't worth it to me. I work to live not live to work. While I often work long hours in my current job (and get to claim my car as a tax deduction ![]() The difference between the two is that if I was an owner in a business, I could never afford to neglect the business for 6 weeks straight. As an employee, those urgent issues will have to wait until I turn on my mobile and log into the corporate network on Monday... and regardless of how urgent or critical those problems are, not a single negative word will be uttered to me simply because I was on a paid leave. |
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#70 | |||
FF.Com.Au Hardcore
Join Date: Jan 2009
Posts: 2,653
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have I loged onto ford forums or "Busines Owners r us"? ![]() |
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#71 | |||
FF.Com.Au Hardcore
Join Date: Dec 2004
Posts: 12,077
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Quote:
The majority of business owners do it because they WANT to. My employees don't have to worry on weekends or at night, they just have to do their job during work hours. On the other hand they don't drive new cars every couple of years and have a house full of toys and gadgets. They go camping or wander off on cruises or trips to overseas holiday tourist destinations, play or watch sports, fish, spend quiet time with their family etc. I work most days and have a very occaisional weekend off and maybe a couple of days attached to a business trip. That is my choice. As far as my "free" cars. I have 34,000km on my 1 year old 350z, my F6 had 105,000km at 2y10m and my GT-P 85,000km at 1y11m. If I did not drive so much for work all the tax deductions in the world world be irrelevent as I could not claim them and would also have to pay fringe benefits tax. Maybe it might be a good idea to ask a tax accountant about a subject that concerns tax next time before you make a "pseudo expert" comment about it denoting your profession. |
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#72 | |||
Regular Member
Join Date: Jan 2005
Posts: 96
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Further, an asset will still be considered to be new if it has only been used for the purposes of reasonable testing and trialling (by any entity). [Schedule 1, item 4, subsection 41-20(2)] Example 1.5 Belinda is contemplating the purchase of a ‘demonstrator’ vehicle from a dealer for $25,000 to use in her business. Although the dealer had acquired the car new from the factory, he would regularly use the car to drive to and from work. The prior use by the car dealer does not constitute reasonable testing and trialling of the car. Therefore the car is not considered new and Belinda would not be eligible to claim the Tax Break for the car. http://parlinfo.aph.gov.au/parlInfo/...6a722%22;rec=0 |
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#73 | ||
FF.Com.Au Hardcore
Join Date: Mar 2006
Posts: 2,021
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Forgive my naivety, but why on earth is there such a battle between the PAYG employees and the small business owners? The small business owner takes a chance, borrows some money and builds a (hopefully) viable business. He/she will earn little to no pay in the first few years even though their employees are being payed award wages. BUT, if the business succeeds then inevitably the profits will come, as the business grows it will hopefully become less dependent on the owner working the silly hours they were at the start. One day, after many years the owner may even sell the business for a considerable sum, they may even hand the business over to their children, each scenario has it's own merits. If, after many years, you are still paying yourself $200 a week and working 20+ hours a day, then your business is unviable and you should get out while you syill have the clothes on your back.
I am a PAYG employee because it suits my nature/lifestyle. I don't care much for stress nor do I envy people in BMW's etc. Therefore it would be foolish of me to own my own business. I work for a fantastic company who pay their employees well. My supervisor earns nearly 50% more than me but has a lot larger workload and he deserves the extra cash. I know I couldn't do his job. People need to learn their place in life. We can't all be Doctors and Lawyers. Some people are just born destined to be a worker. I guess it all depends how much "drive" you have. The trick is to accept it and make the best of your situation. |
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#74 | |||
FF.Com.Au Hardcore
Join Date: Mar 2007
Posts: 2,699
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if these business paid tax instead of claiming it all back, then tax would be cheaper for everyone. Paperwork pfffft, you can pay someone to do most of it and claim their fee back the following year! I'd also say the benefits far outweigh the extra work put in. My boss claims back more than the average person makes a year (which is around 1920hrs of yearly labour for the average worker to make that same amount).
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EB II 1992 Fairmont - koni reds, wade 977b, 2.5inch/4480's and much more to come! |
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#75 | |||
FF.Com.Au Hardcore
Join Date: Mar 2007
Posts: 2,699
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Quote:
Yes it is unfair anyway would take a half price car over all those things. My boss has 0 risk, he brought into a franchise, I work more than him, when he does come in he just reads emails. No risk, no worries applies to him. It is my decision and I'm 19 don't have a family to worry about and will be starting a local business very shortly with 2 mates. I've also had an online business in the past. The benefits of a business outweigh being an employee tremendously, and I must be a sucker to not get in on it. Unlike my boss though I will not be buying into a franchise, so there's risk involved, which we're trying to reduce by starting off slowly. Some people (like my father) how ever could not afford to take risk (family of 6/mortgage etc) so he didn't have the option and had to settle for the shorter end of the bon bon. It's unfair, just because everyone is capable of starting some form of business doesn't make it fair, many people already have it set up for them and it's far far more practical for many people too than it is to others, kind of making it not fair.
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EB II 1992 Fairmont - koni reds, wade 977b, 2.5inch/4480's and much more to come! Last edited by ILLaViTaR; 25-05-2009 at 06:30 PM. |
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#76 | |||
Budget Racer
Join Date: Dec 2004
Location: Melbourne
Posts: 2,421
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Quote:
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12.1@112Mph 285rwkw on n2o Cleveland Power |
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#77 | ||
FG XR6T trayback
Join Date: Jan 2007
Location: N-W NSW
Posts: 1,308
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ILLavITaR
Good luck also. If you are going into business with your 2 mates, please all go and do a short business course, so you understand all the compliance/tax etc issues regards partnership/company set-ups, or you will fail and lose a lot. PS If you think that a franchise is Zero risk, than you are off to a bad start. Do your homework. |
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#78 | |||
FF.Com.Au Hardcore
Join Date: Dec 2004
Posts: 12,077
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#79 | ||
Clevo Mafia Inc.
![]() Join Date: Dec 2004
Location: Melbourne
Posts: 10,496
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Enough of the business owner vs employees, back to the topic or this is over.
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#80 | |||
Regular Member
Join Date: Aug 2006
Posts: 494
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Quote:
Yes, while are back on topic for this very brief moment, do any of the "accountants" amongst us want to clarify the above. Cheers Dan
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BF XR6T in Ego - GOOOONE! Current Drive: 2009 Audi S3 Sportback in Black |
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#81 | ||
.
Join Date: Dec 2004
Location: Bundoora
Posts: 7,199
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zero risk....lol
So who was the person who put quite a considerable amount of savings into said franchise, maybe even put the house up as insurance for it, with the risk of losing it all should the business go bad? Off with the fairies! |
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#82 | ||
Banned
Join Date: Dec 2004
Location: Japan
Posts: 730
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Correct me if I am wrong but you can't claim more than 100% of the assets cost over its life span. So if you can get a 50% claim this year you can only claim the remaining 50% over the life of the item? Thus there is no extra saving, its just a system designed to move forward the money to now at a time where people need it to keep the economy growing. Later on there will be less savings on that item, but presumably business will be better because the economy should have grown.
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#83 | |||
Regular Member
Join Date: Jan 2005
Posts: 120
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Quote:
Im pretty sure the upfront 50% investment allowance is a 'bonus' so you effectively get a 150% deduction over the vehicle's depreciable life. |
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#84 | |||
FF.Com.Au Hardcore
Join Date: Apr 2007
Location: Miranda, NSW
Posts: 6,771
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Quote:
what he said :sm_headba
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2005 BA MK2 FPV GT - 6 SPEED MANUAL , SILHOUETTE, SWISSVAX, SUNROOF, BILSTEIN AND LOVELLS, FACTORY GENUINE 19'S, X-FORCE STAINLESS QUAD CATBACK, ADVANCE HEADERS, 200 CPSI CATS, BLUEPOWER CAI, HERROD BREATHER KIT, 4:11 DIFF RATIO, MAL WOOD OPT 3+ CLUTCH, BILLET SHIFTER, MELLINGS 10227, NOW WITH REVERSE CAMERA/SENSORS, ALPINE SPEAKERS & SUB - CUSTOM TUNED TO 275 RWKW NOW WITH A NEW ADDITION - 2017 MUSTANG V8 GT FASTBACK - , 6 SPEED AUTO IN PLATINUM WHITE, |
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#85 | |||
FF.Com.Au Hardcore
Join Date: Jan 2005
Location: Northern Sydney
Posts: 1,908
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Quote:
http://www.fordforums.com.au/showpos...3&postcount=19 |
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