Budget

[idb]

Well I think it's a genius budget.
It's a hand-out for the next election in 2008.
Very, very clever....hehe!

[Pixie]

It's only on the top 5% of income earners-What? 10%
Sorry! It's only on the top 10% of...

Cullen looks more like Yoda every day..and The Hagg has her hand up his arse operating him too

[ManDownUnder]

You have to be carful - if the IRD deem that you are in the tax evasion business, they will nail your ass to the wall faster than a boi racer through a red light.
They can also deem that your business is a hobby, or is not being run with the entention of making a profit, so decline any tax refunds. This won't stop them keeping any money tho.
OTOH, a friend has done this successfully and can claim back the whizy computer, office space, etc, but he does actually make some sales.
Geoff

Cheers Geoff - a damned good point.

Hell yes - do it properly. Tax evasion is not good... prison and the like. Tax avoidance is a completely legitimate strategy achieved by doing those things the Govt actually wants you to do.

The give tax breaks for desirable activities - so engage in them. Providing housing - then depreciate the house, set up your company and run the office out of your home. The proportion of room that office take from your haome then decided how much the company pays of your:

Rates
Power
Phone
etc etc etc

Once the company has paid all of those thing (into YOUR bank account) it'll possibly be running in the red... so make sure you set it up as an LAQC (Loss Attributing Qualifying Company). That loss then gets turns into a tax refund... which goes back...

TO YOU

It's a VERY simple example I give above... but beloieve me it can be done and it is being done the length and breadth of the country

What would you do if your BIKE was purchased by the company... and that was depreciated etc and a decent part of the bike was actually paid for by tax refunds?

it can be done - but as Geoff says - do it right. Talk to a legit accountant and lawyer combo. Don't just take my word for it, and don't go the the cheapest source of advice! (Not surprisingly the source of advice will need to be paid for and... at the risk of repeating myself... you can claim THAT expense too.... you're starting to get the idea?)
MDU