Dear oh dear,
It's done for all the usual reasons that businesses are incorporated
in Oz.

That's a cop out. You just don't know why, and that's amazing.

Talk to your lawyer friend, he might give you some insight into what
is one of the most complicated tax systems in the World.

Rubbish.

SkitchNYC wrote:

Dear oh dear,
It's done for all the usual reasons that businesses are incorporated
in Oz.

That's a cop out. You just don't know why, and that's amazing.

Talk to your lawyer friend, he might give you some insight into what
is one of the most complicated tax systems in the World.

Rubbish.

Skitch, Oz has you bouncing up and down on a hook that resembles
a thirty-pound fisherman (no doubt on an all-chain rode.)
Everything he has said is correct under Australian corporate law.
My business, which was once a simple two-person partnership, had
to incorporate (long ago) for precisely the reasons he is listing
and you refuse to believe. When the other partner bows out and
I'm running as sole trader, it will still be a company with
protection provided I don't breach my duties as a director.

The reason lies not with Oz's strangeness but withe the
strangeness of the Australian corporation laws, and for that
matter the strangeness of Australian taxation laws, which now run
to 24 volumes or something ridiculous, so complex that only
specially trained, tutored and accredited taxation accountants
can cope with it, and only then when running on refresher courses
every six months. One example should suffice. Were you aware an
Assistant Taxation COmmissioner in Australia can make law which
assumes your guilty and demands you pay up first before any
contest of defence can be started? It's called a "determination"
and while it can be over-ruled by a court, that may take a couple
of years and several hundred thousand dollars to achieve.

So Oz is cheerily leading you on by stating nothing but the
truth. As the truth is so outlandish, you refuse to believe it,
thus demonstrating your limitiations as a Googler. Yet you
yourself are party, daily, to even more outlandish perversions of
logic and legislation, those being the contractual agreement
covering your use of software...
--
Flying Tadpole

-------------------------
Learn what lies below the waves of cyberspace!
http://www.internetopera.netfirms.com

Skitch, Oz has you bouncing up and down on a hook that resembles
a thirty-pound fisherman (no doubt on an all-chain rode.)
Everything he has said is correct under Australian corporate law.
My business, which was once a simple two-person partnership, had

Poor Skitchy....hooked, brought on deck and then fried a deep golden brown!
Skitchy cracks me up with his legal-clap-trap! He clearly knows nothing, and
still does the best Roy Horn taming the tiger impression ever! Whoops!

Bwahahahahaha!

RB

Everything he has said is correct under Australian corporate law.
My business, which was once a simple two-person partnership, had
to incorporate (long ago) for precisely the reasons he is listing
and you refuse to believe. When the other partner bows out and
I'm running as sole trader, it will still be a company with
protection provided I don't breach my duties as a director.

For starters, Taddy, he has not listed any reasons. He appears not to even
know why he did it. As for you, please explain who your duties are owed to if
you are the sole owner and trader. Moreover, there are plenty of better ways
to avoid this than the basic corporation, with all its inherent flaws. So come
on, man, if your'e gonna get in the game, know which direction to run.


The reason lies not with Oz's strangeness but withe the
strangeness of the Australian corporation laws, and for that
matter the strangeness of Australian taxation laws, which now run
to 24 volumes or something ridiculous, so complex that only
specially trained, tutored and accredited taxation accountants
can cope with it, and only then when running on refresher courses
every six months. One example should suffice. Were you aware an
Assistant Taxation COmmissioner in Australia can make law which
assumes your guilty and demands you pay up first before any
contest of defence can be started? It's called a "determination"
and while it can be over-ruled by a court, that may take a couple
of years and several hundred thousand dollars to achieve.

Big deal. The IRS has the same powers.


So Oz is cheerily leading you on by stating nothing but the
truth.

He is stating nothing. Unless I missed it. Maybe you can tell me where he
posted why he has incorporated so many ordinary functions. I am only asking
him for an explanation of the benefits he is seeking, so I can then refute them
or provide him with a better alternative. He seems to have done it based on
advice without knowing why he did it.

As the truth is so outlandish, you refuse to believe it,
thus demonstrating your limitiations as a Googler.

No Googling here, despite your suspicisions.

Capetanios Oz wrote in message
...

Oh dear, better ways?
Tell me kitchy, HOW THE **** WOULD YOU KNOW?

Calm down, Oz. I thought that I was reading a reasoned debate!



Regards


Donal
--

Oh dear, better ways?
Tell me kitchy, HOW THE **** WOULD YOU KNOW?

Bwahahahahahahaha Getting to you, eh? Take a sip of wine and calm down, old
boy. Life's too short to have a heart attack over your keyboard. Listen
Nozzy, I might just know because it is my business to know. I might also get
information from the bloke sitting right next to me laughing his ass off at
you. At least I didn't have to fly 30 hours to get here, but a compatriot of
yours and I are cooped up in an office this weekend working and getting a kick
out of you working yourself into a lather. BTW he doesn't really think you are
Aussie - too uptight he says - thinks you're probably English.

As Taddy has stated our tax law is a minefield, even the best
accountants get caught often, decisions by the Tax Commissioner appear
to be made on the fly and then subject to "determination" when
questioned.

Big deal. The IRS has the same powers.

Big Deal....who cares. Neither Taddy nor I operate in the US but if we
did I'm sure we'd both employ an accountant with local knowledge.
Oh wait a minute, its the Yank thing..."we've got the biggest
everything, even ****ups!"

Yea, that must be it. If all else fails, resort to the tried and true
anti-Americanism. Hoo hoo Let it all out Nozzy, its good for you. Its a
great strategy, when you don't know something, pound the table - make a lot of
noise.

Bwaaahahahahahahahahaaaa! You missed it!
Lets see there's asset protection, liability protection, insurance
benefits, income protection,tax benefits, personal benefits

Asset protection? How does that work. Income protection? What's that?
Personal benefits? What the pride of ownership? Bwahahaha There are also
many drawbacks to a company. Why not consider using a trust, partnership, LP,
offshore corp., even a trade coop can be better than a company - you'll be able
to isolate yourself but get better tax treatment.

....even the
Dino is owned by a company :-)

Now that is just silly. Do you know that you can lose the limited liability
benefits of being incorporated if the shareholder is deemed to dominate and
control the company so that identities are mingled? Do you know that one of
the leading pieces of evidence that creditors use to pierce the corporate veil
is excessive use of incorporation. Better be careful.

Do you know anything about FBT?

Of course, it is one of the problems with what you are doing.

Maybe you should try it, you may get a clue!
""The tax system is so complicated that very few people know what all
their entitlements are," Mr Goddard said."
http://www.smh.com.au/articles/2003/...035013227.html

"TAX Questions Being the most complicated tax system in the world it
is well worth taking a look at this one"
http://www.stonedcrow.com/backpacker_tools/faqs.htm
A good one for you! BASIC!

And this page is for regular updates....they're needed because as
Taddy says, tax accountants need 6 month refresher course to keep up
with a ridiculously fluid system.
http://www.corrs.com.au/WebStreamer?page_id=1800

Enjoy the reading......

Thanks for the Googling, but I know more than I care to right now. C Ya

Oh dear, better ways?
Tell me kitchy, HOW THE **** WOULD YOU KNOW?

Bwahahahahahahaha Getting to you, eh?

Somebody name Skitchy got off the sarcasm train a little too early, aye, Ozzy?

RB

"SkitchNYC" wrote in message
...

Oh dear, better ways?
Tell me kitchy, HOW THE **** WOULD YOU KNOW?

Bwahahahahahahaha Getting to you, eh? Take a sip of wine and calm down,
old
boy. Life's too short to have a heart attack over your keyboard. Listen
Nozzy, I might just know because it is my business to know. I might also
get
information from the bloke sitting right next to me laughing his ass off
at
you.

Hey, I'm not sitting anywhere near you!




At least I didn't have to fly 30 hours to get here, but a compatriot of
yours and I are cooped up in an office this weekend working and getting a
kick
out of you working yourself into a lather. BTW he doesn't really think
you are
Aussie - too uptight he says - thinks you're probably English.

heh heh Very astute!!!!


Regards


Donal
--