Rebadging... who?

[zeroshift]

Aren't gifts tax free?

[SAM-24A]

@ Jeff (JaCe)......I'm led to believe this Club now operates as a business and hence has an ABN.
Ask our Treasurer: VRX_Pete.



@ Chris (zeroshift):......You didn't stipulate it was a gift.
You wrote:

I will bank deposit $10 to anyone who can give me the measurements of the following to the nearest millimetre.

That statement indicates that $10 is for services rendered.
ie: a payment in return for information which Matt would have had to engage a physically movement using a measuring instrument (tools) to attain.



Sam...

[JaCe]

But there is a clear difference between the individuals acting in their capacity as individual members of the forum versus the business which provides the medium by which we communicate.

Coming back on to your point though, just because it's in exchange for a service of some form does not automatically give it the quality of 'income' which constitutes ordinary income and is assessable.

... are you sure you really want to argue with a professional accountant on this?

[Nick07]

Cash in the hand job

[BrownSound]

Jeff, you have been spending too much time with the tax guys at work... I am really hoping you had to look up the ITAA reference and it isn't something that is simply ingrained into your mind!

[JaCe]

The two most used references in tax are s6-1 and s8-5 (income and deductions).

[SAM-24A]

Mattigins wrote:

Jace my father is a professional accountant.. ill ask him

Well Now, that explains and answers a whole world of questions.....doesn't it Matt.



Sam....

[tadz0rz]

Just donate it to the club and be done with it haha

[aspir3]

What do accountants use as contraception?


Their personalities.

[WTR]

Q. Why don't sharks eat accountants ?

A. Professional courtesy.

[SAM-24A]

Whaaaaaaat !!!!........ a donation from Mattigins to ClubCJ.

Are you suggesting he deprives himself from earning income for the first time in years by donating it to ClubCJ.

....HaHa