Australians......interesting Tax post

[rusty JEDI]

Something i found on another sites forum from an Australian poster.


[ QUOTE ]
Well the way I get away with not paying tax on winnings is claiming it as a "hobby"

Definition: something I do for fun and not for profit and if i happen to make a profit it was not forseen.

I am a registered "hobby business" owner and I dont have to pay one red cent.

Australia introduced the GST and with it came alot of changes to the tax system, and me being 1 year off holding an associate diploma in accountancy gives me somewhat of an advantage

[/ QUOTE ]


I myself have no clue about Australian tax law because i am Canadian, but thought some of you might be interested.

rJ