How a millionaire pays no income tax

Charity could pay for the ugg boots and flannellette shirts as well

With the charities logo of course of a bogan turning into a corporate type. A true tragedy in this day and age.

 

Sorry Terry he condemned everybody including me an atheist. It's just the gay contingent in the form of qantas / joyce who control RA who took offense and blew it out of the water.

Anyway this is not the subject of this thread.

Article is standard tripe marched out at tax time.

As far as income and reducing income in this case he has a $1mil cash flow out of which he donated $850k leaving him with $150k to worry about. Split the $150k to other expenses such as business trips, car etc and what is actually left as taxable income.

Surely this is just tax effective structuring that most on this forum, who have been successful, should be practicing.

We certainly structure our income with as many legitimate expenses via our companies as possible. The dividends that we take gross up to the 30% total tax so we literally pay no personal tax as the companies have paid the tax. Any money left in the companies is reinvested via our structures.

Unfortunately our USA investments have screwed up our structuring as via international finances we had to loan money to our USA LLC's in our personal names. As a result the interest payments only have a 10% withholding credit.

 

Anyways, GoFundMe Australia has closed the account and will refund the moneys.

Let's wait for the outrage over the outrage.

 

Why, that would be the Tony Foundation, right?

 

More aptly named the Charity for the protection of the Red Budgie Smugglers