Australian Politics Forum - Business Groups And The Unfair Dismissal Laws

stunspore

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Re: Business Groups And The Unfair Dismissal Laws
Reply #45 - Dec 25^th, 2015 at 8:19pm

If you are able to earn to the 45c tier, you are doing well over 50% of the population.

As for Maria, sadly wrong on tax facts. Salary-based means less company tax but passed on as more personal income tax. Preferred distributed (franked) means less salary hence more company tax, but less income tax paid (as franked amount forms part of the partially paid tax of total income). I suspect that it becomes roughly the same after. Usually it is better to pay salary more rather than distributed more. This is because depending on how many investors there are and how profit is shared.
It actually shows weak business management/performance if profit is made at the expense of company owner salary.

I'll let maria do some more homework on this...would hate to have bad information spewed out.

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longweekend58

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Re: Business Groups And The Unfair Dismissal Laws
Reply #46 - Dec 26^th, 2015 at 8:07am

stunspore wrote on Dec 25^th, 2015 at 8:19pm:

If you are able to earn to the 45c tier, you are doing well over 50% of the population.

As for Maria, sadly wrong on tax facts. Salary-based means less company tax but passed on as more personal income tax. Preferred distributed (franked) means less salary hence more company tax, but less income tax paid (as franked amount forms part of the partially paid tax of total income). I suspect that it becomes roughly the same after. Usually it is better to pay salary more rather than distributed more. This is because depending on how many investors there are and how profit is shared.
It actually shows weak business management/performance if profit is made at the expense of company owner salary.

I'll let maria do some more homework on this...would hate to have bad information spewed out.

its even more simple. all profits that arent retained by the company will be taxed at the recipients marginal tax rate one way or the other be it pure income tax or a combination of franked dividends and income tax. it is not as if the governments have failed to work this out.

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AUSSIE: "Speaking for myself, I could not care less about 298 human beings having their life snuffed out in a nano-second, or what impact that loss has on Members of their family, their parents..."

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stunspore Gold Member Offline Australian Politics Posts: 5097 Gender:	Re: Business Groups And The Unfair Dismissal Laws Reply #47 - Dec 26^th, 2015 at 10:56am Glad long appears to understand this a bit. Of course there are tax minimisation strategies, such as salary packaging and fringe benefits (though to a certain degree, FBT willl need to pay).
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Grappler Deep State Feller

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Re: Business Groups And The Unfair Dismissal Laws
Reply #48 - Dec 26^th, 2015 at 11:00am

longweekend58 wrote on Dec 26^th, 2015 at 8:07am:

stunspore wrote on Dec 25^th, 2015 at 8:19pm:

If you are able to earn to the 45c tier, you are doing well over 50% of the population.

As for Maria, sadly wrong on tax facts. Salary-based means less company tax but passed on as more personal income tax. Preferred distributed (franked) means less salary hence more company tax, but less income tax paid (as franked amount forms part of the partially paid tax of total income). I suspect that it becomes roughly the same after. Usually it is better to pay salary more rather than distributed more. This is because depending on how many investors there are and how profit is shared.
It actually shows weak business management/performance if profit is made at the expense of company owner salary.

I'll let maria do some more homework on this...would hate to have bad information spewed out.

its even more simple. all profits that arent retained by the company will be taxed at the recipients marginal tax rate one way or the other be it pure income tax or a combination of franked dividends and income tax. it is not as if the governments have failed to work this out.

Yes - they don't miss much unless they want to, and therein lies the rub... we need to train them up on how to capture revenue where it actually sits...... not toss nets around all over the country hoping to catch a few cents...

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“Facts are stubborn things; and whatever may be our wishes, our inclinations, or the dictates of our passion, they cannot alter the state of facts and evidence.”
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longweekend58

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Re: Business Groups And The Unfair Dismissal Laws
Reply #49 - Dec 26^th, 2015 at 12:49pm

Grappler Deep State Feller wrote on Dec 26^th, 2015 at 11:00am:

longweekend58 wrote on Dec 26^th, 2015 at 8:07am:

stunspore wrote on Dec 25^th, 2015 at 8:19pm:

If you are able to earn to the 45c tier, you are doing well over 50% of the population.

As for Maria, sadly wrong on tax facts. Salary-based means less company tax but passed on as more personal income tax. Preferred distributed (franked) means less salary hence more company tax, but less income tax paid (as franked amount forms part of the partially paid tax of total income). I suspect that it becomes roughly the same after. Usually it is better to pay salary more rather than distributed more. This is because depending on how many investors there are and how profit is shared.
It actually shows weak business management/performance if profit is made at the expense of company owner salary.

I'll let maria do some more homework on this...would hate to have bad information spewed out.

its even more simple. all profits that arent retained by the company will be taxed at the recipients marginal tax rate one way or the other be it pure income tax or a combination of franked dividends and income tax. it is not as if the governments have failed to work this out.

Yes - they don't miss much unless they want to, and therein lies the rub... we need to train them up on how to capture revenue where it actually sits...... not toss nets around all over the country hoping to catch a few cents...

I'd ask for details but i dont think i could(or want to) unravel your convuluted answer

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AUSSIE: "Speaking for myself, I could not care less about 298 human beings having their life snuffed out in a nano-second, or what impact that loss has on Members of their family, their parents..."

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Grappler Deep State Feller

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Re: Business Groups And The Unfair Dismissal Laws
Reply #50 - Dec 26^th, 2015 at 12:59pm

longweekend58 wrote on Dec 26^th, 2015 at 12:49pm:

Grappler Deep State Feller wrote on Dec 26^th, 2015 at 11:00am:

longweekend58 wrote on Dec 26^th, 2015 at 8:07am:

stunspore wrote on Dec 25^th, 2015 at 8:19pm:

If you are able to earn to the 45c tier, you are doing well over 50% of the population.

As for Maria, sadly wrong on tax facts. Salary-based means less company tax but passed on as more personal income tax. Preferred distributed (franked) means less salary hence more company tax, but less income tax paid (as franked amount forms part of the partially paid tax of total income). I suspect that it becomes roughly the same after. Usually it is better to pay salary more rather than distributed more. This is because depending on how many investors there are and how profit is shared.
It actually shows weak business management/performance if profit is made at the expense of company owner salary.

I'll let maria do some more homework on this...would hate to have bad information spewed out.

its even more simple. all profits that arent retained by the company will be taxed at the recipients marginal tax rate one way or the other be it pure income tax or a combination of franked dividends and income tax. it is not as if the governments have failed to work this out.

Yes - they don't miss much unless they want to, and therein lies the rub... we need to train them up on how to capture revenue where it actually sits...... not toss nets around all over the country hoping to catch a few cents...

I'd ask for details but i dont think i could(or want to) unravel your convuluted answer

Never fear - your education at my humble hands is ongoing and is a work in progress....

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“Facts are stubborn things; and whatever may be our wishes, our inclinations, or the dictates of our passion, they cannot alter the state of facts and evidence.”
― John Adams

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longweekend58

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Re: Business Groups And The Unfair Dismissal Laws
Reply #51 - Dec 26^th, 2015 at 1:07pm

Grappler Deep State Feller wrote on Dec 26^th, 2015 at 12:59pm:

longweekend58 wrote on Dec 26^th, 2015 at 12:49pm:

Grappler Deep State Feller wrote on Dec 26^th, 2015 at 11:00am:

longweekend58 wrote on Dec 26^th, 2015 at 8:07am:

stunspore wrote on Dec 25^th, 2015 at 8:19pm:

If you are able to earn to the 45c tier, you are doing well over 50% of the population.

As for Maria, sadly wrong on tax facts. Salary-based means less company tax but passed on as more personal income tax. Preferred distributed (franked) means less salary hence more company tax, but less income tax paid (as franked amount forms part of the partially paid tax of total income). I suspect that it becomes roughly the same after. Usually it is better to pay salary more rather than distributed more. This is because depending on how many investors there are and how profit is shared.
It actually shows weak business management/performance if profit is made at the expense of company owner salary.

I'll let maria do some more homework on this...would hate to have bad information spewed out.

its even more simple. all profits that arent retained by the company will be taxed at the recipients marginal tax rate one way or the other be it pure income tax or a combination of franked dividends and income tax. it is not as if the governments have failed to work this out.

Yes - they don't miss much unless they want to, and therein lies the rub... we need to train them up on how to capture revenue where it actually sits...... not toss nets around all over the country hoping to catch a few cents...

I'd ask for details but i dont think i could(or want to) unravel your convuluted answer

Never fear - your education at my humble hands is ongoing and is a work in progress....

you couldnt teach anyone anything. for that you ahve to be able to communicate coherently. hint: google 'coherently'

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AUSSIE: "Speaking for myself, I could not care less about 298 human beings having their life snuffed out in a nano-second, or what impact that loss has on Members of their family, their parents..."

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Grappler Deep State Feller

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Re: Business Groups And The Unfair Dismissal Laws
Reply #52 - Dec 26^th, 2015 at 1:26pm

longweekend58 wrote on Dec 26^th, 2015 at 1:07pm:

Grappler Deep State Feller wrote on Dec 26^th, 2015 at 12:59pm:

longweekend58 wrote on Dec 26^th, 2015 at 12:49pm:

Grappler Deep State Feller wrote on Dec 26^th, 2015 at 11:00am:

longweekend58 wrote on Dec 26^th, 2015 at 8:07am:

stunspore wrote on Dec 25^th, 2015 at 8:19pm:

If you are able to earn to the 45c tier, you are doing well over 50% of the population.

As for Maria, sadly wrong on tax facts. Salary-based means less company tax but passed on as more personal income tax. Preferred distributed (franked) means less salary hence more company tax, but less income tax paid (as franked amount forms part of the partially paid tax of total income). I suspect that it becomes roughly the same after. Usually it is better to pay salary more rather than distributed more. This is because depending on how many investors there are and how profit is shared.
It actually shows weak business management/performance if profit is made at the expense of company owner salary.

I'll let maria do some more homework on this...would hate to have bad information spewed out.

its even more simple. all profits that arent retained by the company will be taxed at the recipients marginal tax rate one way or the other be it pure income tax or a combination of franked dividends and income tax. it is not as if the governments have failed to work this out.

Yes - they don't miss much unless they want to, and therein lies the rub... we need to train them up on how to capture revenue where it actually sits...... not toss nets around all over the country hoping to catch a few cents...

I'd ask for details but i dont think i could(or want to) unravel your convuluted answer

Never fear - your education at my humble hands is ongoing and is a work in progress....

you couldnt teach anyone anything. for that you ahve to be able to communicate coherently. hint: google 'coherently'

Ah, Grasshopper - your narrow mindset baulks at the concept of viewing things in a holistic manner... keep trying .. it's like body building.... work those mental muscles and one you you will be the Arnold Schwarzenegger of the intellectual world....

No personal insults... does that mean I'll be right with an impersonal one?

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“Facts are stubborn things; and whatever may be our wishes, our inclinations, or the dictates of our passion, they cannot alter the state of facts and evidence.”
― John Adams

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longweekend58

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Re: Business Groups And The Unfair Dismissal Laws
Reply #53 - Dec 26^th, 2015 at 3:19pm

Grappler Deep State Feller wrote on Dec 26^th, 2015 at 1:26pm:

longweekend58 wrote on Dec 26^th, 2015 at 1:07pm:

Grappler Deep State Feller wrote on Dec 26^th, 2015 at 12:59pm:

longweekend58 wrote on Dec 26^th, 2015 at 12:49pm:

Grappler Deep State Feller wrote on Dec 26^th, 2015 at 11:00am:

longweekend58 wrote on Dec 26^th, 2015 at 8:07am:

stunspore wrote on Dec 25^th, 2015 at 8:19pm:

If you are able to earn to the 45c tier, you are doing well over 50% of the population.

As for Maria, sadly wrong on tax facts. Salary-based means less company tax but passed on as more personal income tax. Preferred distributed (franked) means less salary hence more company tax, but less income tax paid (as franked amount forms part of the partially paid tax of total income). I suspect that it becomes roughly the same after. Usually it is better to pay salary more rather than distributed more. This is because depending on how many investors there are and how profit is shared.
It actually shows weak business management/performance if profit is made at the expense of company owner salary.

I'll let maria do some more homework on this...would hate to have bad information spewed out.

its even more simple. all profits that arent retained by the company will be taxed at the recipients marginal tax rate one way or the other be it pure income tax or a combination of franked dividends and income tax. it is not as if the governments have failed to work this out.

Yes - they don't miss much unless they want to, and therein lies the rub... we need to train them up on how to capture revenue where it actually sits...... not toss nets around all over the country hoping to catch a few cents...

I'd ask for details but i dont think i could(or want to) unravel your convuluted answer

Never fear - your education at my humble hands is ongoing and is a work in progress....

you couldnt teach anyone anything. for that you ahve to be able to communicate coherently. hint: google 'coherently'

Ah, Grasshopper - your narrow mindset baulks at the concept of viewing things in a holistic manner... keep trying .. it's like body building.... work those mental muscles and one you you will be the Arnold Schwarzenegger of the intellectual world....

No personal insults... does that mean I'll be right with an impersonal one?

love it when you prove my point with your opaque posting style.

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AUSSIE: "Speaking for myself, I could not care less about 298 human beings having their life snuffed out in a nano-second, or what impact that loss has on Members of their family, their parents..."

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Grappler Deep State Feller Gold Member Online Australian Politics Posts: 85659 Always was always will be HOME Gender:	Re: Business Groups And The Unfair Dismissal Laws Reply #54 - Dec 26^th, 2015 at 5:52pm But Longy - that's why I'm a double professor emeritus and you are a simple Ph.D aspirant... I prefer the term 'arcane' rather than opaque... there are at least four other users... other than your good self... who know exactly what I am saying... it's not hard...
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Dnarever

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Re: Business Groups And The Unfair Dismissal Laws
Reply #55 - Dec 27^th, 2015 at 8:49am

longweekend58 wrote on Dec 25^th, 2015 at 7:01pm:

Dnarever wrote on Dec 24^th, 2015 at 1:12pm:

mariacostel wrote on Dec 24^th, 2015 at 11:06am:

If the business is privately owned then the profits can all be distributed to the owners via salary or distribution thus avoiding company tax. If you decide to pay company tax and then take a distribution, the tax is franked and the end result is exactly the same. So why would you pay company tax at all?

You think it is a good idea to pay 45c personal tax in preference to paying 30c company tax ?

There are millions of companies out there paying tax, we know many high profile companies structure to avoid paying any tax but not everyone is like that.

Quote:

If you decide to pay company tax and then take a distribution, the tax is franked and the end result is exactly the same. So why would you pay company tax at all?

No it isn't exactly the same - the distribution as you say is franked because the company paid 30% tax on it.

You get the meaning of this - the company paid the tax on it - the company paid the tax on it ?????

You understand what the company paying the tax on it means. It means that the company paid tax ????

After the company paid tax on it and it is distributed you may still pay a bit more tax on it as it still forms part of your personal tax return and the franked amount is taxed (30%) if your income is taxed at an all over higher rate you then owe the taxman the difference. normally in my experience not a lot.

Took me a while to catch up on this one. You are wrong of course. and i speak as a company owner. you can take profit as salary and pay 45c on it or the company can pay 30c on it and then you can pay another 15c on. the effect is the same which is why for many companies the company tax rate is immaterial

Good to see that you agree with me that Maria was wrong.

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John Smith Gold Member Online Australian Politics Posts: 75439 Gender:	Re: Business Groups And The Unfair Dismissal Laws Reply #56 - Dec 27^th, 2015 at 8:55am Dnarever wrote on Dec 27^th, 2015 at 8:49am: Good to see that you agree with me that Maria was wrong. I have to admit, I laughed when he said you were wrong and then proceeded to point out the fallacy in Maria's logic.
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longweekend58

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Re: Business Groups And The Unfair Dismissal Laws
Reply #57 - Dec 27^th, 2015 at 12:26pm

Grappler Deep State Feller wrote on Dec 26^th, 2015 at 5:52pm:

But Longy - that's why I'm a double professor emeritus and you are a simple Ph.D aspirant...

I prefer the term 'arcane' rather than opaque... there are at least four other users... other than your good self... who know exactly what I am saying... it's not hard...

I thought you were an SA captain and an Asio spy and all the other stories you pull out your bum in every second thread. I am surprised you ahvent claimed to have been an astronaut.

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AUSSIE: "Speaking for myself, I could not care less about 298 human beings having their life snuffed out in a nano-second, or what impact that loss has on Members of their family, their parents..."

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Grappler Deep State Feller

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Re: Business Groups And The Unfair Dismissal Laws
Reply #58 - Dec 27^th, 2015 at 12:59pm

longweekend58 wrote on Dec 27^th, 2015 at 12:26pm:

Grappler Deep State Feller wrote on Dec 26^th, 2015 at 5:52pm:

But Longy - that's why I'm a double professor emeritus and you are a simple Ph.D aspirant...

I prefer the term 'arcane' rather than opaque... there are at least four other users... other than your good self... who know exactly what I am saying... it's not hard...

I thought you were an SA captain and an Asio spy and all the other stories you pull out your bum in every second thread. I am surprised you ahvent claimed to have been an astronaut.

All of the above.... actually you are quite incorrect - I have not made those claims, but rather allow facts to speak for themselves..... a simple perusal of my passport records yields some interesting points.....

What is a South Australian Captain, BTW? Cricket? South African Rugby perhaps?

I was interested in being an astronaut as much as anyone else.. my hearing and middle ear issues meant I could not have a chance anyway, and they also mean I can't dive deep in water. My chances of being a great surgeon were doomed by terminal nasal drip and allergy.... can't have a leaking nose in a mask and sneezes while cutting out someone's heart and lungs, can you?

Besides - I do a better job of cutting out your heart and lungs with words..... along with those of my other detractors..... Shocked

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“Facts are stubborn things; and whatever may be our wishes, our inclinations, or the dictates of our passion, they cannot alter the state of facts and evidence.”
― John Adams

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