Tax the rich?

[b0son]

Originally Posted by blueoval

And that's fair enough too. Employees get their full entitlements without the worry.

And yet when the business is having a good year, many begrudge the boss enjoying the spoils, and expect they get a nice fat bonus or a payrise, or their jobs should be made easier by hiring more people or buying better equipment (this year, we've opted for the latter because it means when people inevitably leave/retire, I won't have to replace them).

I'd happily offer people a rise when we can afford it, but I know that in our industry, sales are fickle. The next year could be lean, and I know no one's going to hand one cent of that rise back, they'll expect me to take a personal cut or raid the company cash to ride it out.

[Stefan]

Originally Posted by blueoval

And that's fair enough too. Employees get their full entitlements without the worry. Business owners get some tax breaks for providing the employment, no matter how big/small they are. Govco needs to make it worthwhile for business owners to stay in business or we would all be looking for employment working for the man or on the dole queue.

Can you list the tax breaks business owners get please?

[blueoval]

Originally Posted by Stefan

Can you list the tax breaks business owners get please?

Have a look here
http://myob.com.au/blog/the-top-10-s...tions-in-2013/
https://www.ato.gov.au/Business/Dedu...-for-business/
https://www.ato.gov.au/Business/Star...ss-deductions/

Originally Posted by b0son

And yet when the business is having a good year, many begrudge the boss enjoying the spoils, and expect they get a nice fat bonus or a payrise, or their jobs should be made easier by hiring more people or buying better equipment (this year, we've opted for the latter because it means when people inevitably leave/retire, I won't have to replace them).

I'd happily offer people a rise when we can afford it, but I know that in our industry, sales are fickle. The next year could be lean, and I know no one's going to hand one cent of that rise back, they'll expect me to take a personal cut or raid the company cash to ride it out.

When there was a time I paid a bonus to myself, I would also give a nice bonus to the employees as a surprise when we could afford it, to thank them for their hard work and contributions to the business. It made them feel like they were appreciated.

[Work Horse]

Originally Posted by XWGT

I assume you never worked under the era of Wholesale Sales Tax then......

If you can work out a cheaper and easier way to collect and remit 10% of every transaction performed in Australia I'm sure the ATO and every other body in the world would love to hear from you.

Can I work out a way to apply a broad based consumption tax cheaper and easier than a broad based consumption tax?

[Auslandau]

So many liked posts

Love the term 'LOOP HOLE' ....... been trying to find them for ages.

Would love someone to name 1 legit Loop hole? Don't confuse the term with rebate either.

I just put 2 blokes on. Both through a government inititive sponsored through the Salvo's. 1 a truck driver, 1 a storeman. Thought we would see how we go.

Interview time: In they come with tackkie dacks and T shirts complaining of sore shoulders and backs. We found 2 blokes. 1 a 45 year old and a Mauri. (Total now 3 New Zealanders ) Total applicants? 5 in all. 1 for storeman only and 5 truck drivers (4 didn't want to work). UM ...... thats it?

The old sales tax was a nightmare ........ some had tax, all different levels, some didn't ..... it was all over the place!

[MITCHAY]

Put it this way. If it were easy and so plush to run a business, everyone would do it. Unfortunately a lot of people don't have a clue how it all works.

Most business owners don't see the fruits of their labour until many years down the track, that's if they don't lose everything in the process of trying to reach that end game.

I know at least one person with a business who would do a lot better as an employee and they would get out now if they could.

No I don't own a business, but have seen the stresses it can put on someone. The reward may or may not be proportionate to the risk.

[CoupeKing]

I dont know how many executives we have here that make anywhere near Apple, Google or Microsoft, but alot of their wages are $1.00 per year to maximise profit and to bump up the share prices. How would the Tax the rich work with them?

[BHDOGS]

anyway enough business love back on topic.

[Work Horse]

Originally Posted by BHDOGS

anyway enough business love back on topic.

I was wondering when they were going to make you a mod

[GasoLane]

Originally Posted by BHDOGS

anyway enough business love back on topic.

LOL, thats funny...

I thought the thread was about taxing the rich.?

Ergo, a few contributors to the thread had the idea that business owners were rich, therefore avoiding tax and deserved any extra tax heading there way.

Hence the small business talk.

[BHDOGS]

Nobody here said they were rich at all.

[zilo]

Originally Posted by MITCHAY

Put it this way. If it were easy and so plush to run a business, everyone would do it. Unfortunately a lot of people don't have a clue how it all works.

Most business owners don't see the fruits of their labour until many years down the track, that's if they don't lose everything in the process of trying to reach that end game.

I know at least one person with a business who would do a lot better as an employee and they would get out now if they could.

No I don't own a business, but have seen the stresses it can put on someone. The reward may or may not be proportionate to the risk.

I guess you can sum up a prosperous working life a bit like a marathon.

The only losers are the ones that don't even start the race....employees.

I have so many friends who scoffed at me working weekends, taking sacrifices while they went on holidays twice a year and they always had the lease car salary sacrifice crap as middle level managers.

Now they sweat over losing their jobs in their late forties and early fifties knowing they will never get a job if they lose the current one.

Cannot imagine the mental stress and disempowerment of not being in control of your own destiny.

That surely would hurt more than any trauma in a failed enterprise?

[Stefan]

Originally Posted by blueoval

Have a look here
http://myob.com.au/blog/the-top-10-s...tions-in-2013/
https://www.ato.gov.au/Business/Dedu...-for-business/
https://www.ato.gov.au/Business/Star...ss-deductions/

I don't class a list of business expenses, tax breaks.

[BHDOGS]

hurt more then being broke with no money your wife leaving you then ending up in the gutter drugged out with nothing to comfort you but the sweet embrace of death. Depends how you look at it i suppose.

[Charliewool]

Which, I spose would be their bosses fault too?

[b0son]

Originally Posted by blueoval

When there was a time I paid a bonus to myself, I would also give a nice bonus to the employees as a surprise when we could afford it, to thank them for their hard work and contributions to the business. It made them feel like they were appreciated.

When we were in the same position, we too paid out bonuses. The following year, we didn't take a bonus ourselves, but still decided to pay a bonus (albeit smaller) to staff. People complained it wasn't as good as last years .... don't think we'll bother this year.

[gtfpv]

Originally Posted by zilo

I guess you can sum up a prosperous working life a bit like a marathon.

The only losers are the ones that don't even start the race....employees.

I have so many friends who scoffed at me working weekends, taking sacrifices while they went on holidays twice a year and they always had the lease car salary sacrifice crap as middle level managers.

Now they sweat over losing their jobs in their late forties and early fifties knowing they will never get a job if they lose the current one.

Cannot imagine the mental stress and disempowerment of not being in control of your own destiny.

That surely would hurt more than any trauma in a failed enterprise?

finally , a business owner , who doesnt cry "poor me" the whinging from business owners here whinging about being hard done by has been sickening and disheartening . i was thinking of starting up a donation for business owners . ZILO . IT REALLY IS NICE TO SEE SOMEONE FEELING LIKE THEY ARE IN FRONT . GOOD STUFF . THAT IS THE 1ST STEP TO LEAVIUNG EVERYONE ELSES BENIFITS ALONE .

[BHDOGS]

Originally Posted by Charliewool

Which, I spose would be their bosses fault too?

I was talking about buisness owners

[Work Horse]

Originally Posted by zilo

I guess you can sum up a prosperous working life a bit like a marathon.

The only losers are the ones that don't even start the race....employees.

I have so many friends who scoffed at me working weekends, taking sacrifices while they went on holidays twice a year and they always had the lease car salary sacrifice crap as middle level managers.

Now they sweat over losing their jobs in their late forties and early fifties knowing they will never get a job if they lose the current one.

Cannot imagine the mental stress and disempowerment of not being in control of your own destiny.

That surely would hurt more than any trauma in a failed enterprise?

Define "a prosperous working life."

I suspect like so many others in this thread you are applying your values to other people.

[xxx000]

deleted

[xxx000]

Originally Posted by zilo

I guess you can sum up a prosperous working life a bit like a marathon.

The only losers are the ones that don't even start the race....employees.

I have so many friends who scoffed at me working weekends, taking sacrifices while they went on holidays twice a year and they always had the lease car salary sacrifice crap as middle level managers.

Now they sweat over losing their jobs in their late forties and early fifties knowing they will never get a job if they lose the current one.

Cannot imagine the mental stress and disempowerment of not being in control of your own destiny.

That surely would hurt more than any trauma in a failed enterprise?

so employees, yours or others, are losers ?

seems like your only friend is $

[zilo]

Originally Posted by Work Horse

Define "a prosperous working life."

I suspect like so many others in this thread you are applying your values to other people.

The means to be financially equitable, to not rely on govt handouts or be a burden on your family when you get older.

Now define your interpretation of a successful prosperous working life?


I have a big bag of popcorn ready for a night's entertainment...

[xxx000]

Originally Posted by zilo

The means to be financially equitable, to not rely on govt handouts or be a burden on your family when you get older.

Now define your interpretation of a successful prosperous working life?


I have a big bag of popcorn ready for a night's entertainment...

aren't you the one who accepted govt money to put your 3 kids through private school?

[zilo]

Originally Posted by xxx000

so employees, yours or others, are losers ?

All are losers in the game of Russian roulette called a "job".

The capitalist economic model is what you are standing in.
All employees are expendable commodities in a capitalist machine
In poker we call them discards.

As an employer If I could replace a worker with an automated process I would (as would Ford Australia on the assembly line).

It's been happening for decades.

Surely it's obvious to you that it's a win/lose situation?

[zilo]

Originally Posted by xxx000

aren't you the one who accepted govt money to put your 3 kids through private school?

Prove it?

[zilo]

Originally Posted by xxx000

so employees, yours or others, are losers ?

seems like your only friend is $

Got anything to say about the thread topic apart from being a troll?

[Work Horse]

Originally Posted by zilo

The means to be financially equitable, to not rely on govt handouts or be a burden on your family when you get older.

Now define your interpretation of a successful prosperous working life?


I have a big bag of popcorn ready for a night's entertainment...

LOL, you have moved the goal posts, now I have to be successful and prosperous!

[zilo]

Originally Posted by Work Horse

LOL, you have moved the goal posts, now I have to be successful and prosperous!

football analogy?

you tackled first

[xxx000]

Originally Posted by zilo

Prove it?

Show me the receipt to say you gave it back to us taxpayers then

it seems to really irk you that your kids education was subsidised and not paid for solely by you. Sort of makes the previously mentioned bragging about $33k p/a per child seem a bit diluted.

[zipping]

Tax explained in beer

https://www.ijreview.com/2012/04/688...xplained-beer/

Apologies if seen before.