@@ranudar5666 Rich people pay a lot more tax than you think. The top 3 per cent pay about 28% of all tax revenue and the top 10% pay 46% of tax revenue. People get confused because they don't understand the difference between wealth and income. You can own a million dollar house (which makes you a millionaire) and pay no tax (because you have no income). The media writes misleading articles about this to trick people into thinking the rich don't pay taxes but it's a lie.
Can you make sure you get your customers T’axes submitted before June 30 of the following year so they don’t get debts From other public services. -Someone who deals with tax returns
@@jsquared1013 I believe it's worse than that. Look up Michael West media billionaire's loophole. Mind you, the loophole was closed but only because of green and labor law change
We design a tax system so everyone gets to think they are winning by being clever. In reality, we tax people based on how likely we think they are to take the money and talent elsewhere.
@@jenniferbates2811 Also it's been shown that your government doesn't really use much (or any) of that T'axe to pay for the necessary and good things for people. It apparently just disappears. Also your government keeps printing more money to help them pay for things they don't do. And while the top 20%, 5%, 1% and 0.01% get exponentially more richer... the bottom 50% get poorer. And so does the international community who have to fund USA currency. But mah military!
I'm pretty sure biden took notes from our polies. I used to be able to buy a set of bike cranks from the usa delivered after exchange rate nearly doubled it, and shipping was about 250 bucks, vs 650 atleast if purchased locally.
Sooo, in short you have to earn so little you can't get taxed or so much you have someone who makes sure you don't get taxed, just don't end up in the middle group or your f 'axed, or something that sounds like that 🤨.
Absolutely funny and true 😂😂😂 if you want, I can arrange to book Jason with an accountant to file a Tax Return. Maybe he can get back the cost of that ink 😅😅😅😮
Just started flying a drone for vehicle inspections. They are so cool! I need to get some time saving like you have done on your trailer but on a much smaller scale. Love your work!
Congratulations jimmy on the kings Honors. Can’t wait to see the video on the man who decides kings Honors. Well done and looking forward to many more.
In the US the thirteenth amendment was supposed to end slavery! NO, it just turned it into a government monopoly! The government is allowed to mandate forced labour, if it so chooses e.g. military conscription! In Australia it is little different!
And some sole trader classifications will see you pay 45% of your income to tax - why should you get the privilege to work for yourself instead of for a corporation which doesn't pay you or the ATO? That's not fair on the economy.
the giggle i had about the land tax! don’t forget kiddos, land tax year ends with the calendar year, unlike your usual tax year! not that it’s gonna matter for those of us who’ll never own one land, let alone two!
And Jason if you don't want to call it a tax you can call it a Levy and the Governments will still take your hard earned money. And Jason there is a tax on whatever is in his glass 🍸
And don't forget... Alcohol, live stock, gambling, flights, insurance, planning, vehicle and import taxes.... Yes sheep have their own tax and the insurance that you need to buy to avoid the Medicare levy surcharge is also taxed (in addition to GST)
@MrToranaGuy Good thought, maybe that's where the rest of the tax is hiding. I did wonder if the taxes were just on other things too. I don't really know what their GST equivalent is or anything. Or fuel tax for that matter. But the person I heard threw out 60% as their number, and it seemed a pretty long way from the 12% income tax 🤔
To be fair the tax system here isn't too bad, having it automatically taken out of your pay usually works better because you don't get a massive tax bill each year so it is easier to manage your money, and with some deductions you can often get a refund which feels a lot better than in other countries as it is like a reward for doing your taxes. Not to mention that doing your own taxes is pretty simple nowadays, if you wait till September usually everything is automatically filled out for you so you can be done in under 10 minutes or 20 if you have some deductions, so you don't need to pay a heap of money for an accountant either. We also have tax included in advertised prices so you know how much something will cost before you buy it. Overall it is a very convenient tax system compared to other countries, but it is still frustrating how much goes to tax, mainly because of how much of that gets wasted on/by politicians.
this year will be the first time since the 08/09 financial year that I will have to do a tax return..I hope I get something back...I was a carer for family members, until they up and died..then I had to find a job..
Part of the t'axe goes towards a guy who writes speeches (for $300,000 a year) because the guy who we are paying t'axe to isn't competent enough to tell us what he should know in his own words. If the guy being paid $300,000 a year to write speeches for the guy that we are paying directly knows more than the guy the speeches are being written for then the wrong guy is in that position. Something needs to be done to Shorten the list of people that everyone is being t'axed to be paid.
Or sell their rental property (like we did) because of all the compliance, associated costs and headaches sorting it all out. Yes, I could have a rental person do it (tried that) but that costs a lot, plus there’s a tax on that too.
Surprise pikachu face when you agree to participate in a regulated market you have to comply with regulations. Glad to see you realised it was too much work and expense so you decided to invest in assets you can afford.
All tax systems are unfair. That's why I support a blanket flat tax. It's unfair too, but at least it's easy to understand. Everything is taxed exactly the same percentage regardless of what it is. The more you spend, the more tax you pay.
I've never seen the Tax system explained so clearly! 😅
Are you angry now?
not enough T'ax for the rich in real life or this video sadly.
@@ranudar5666 what money?
@@ranudar5666 Rich people pay a lot more tax than you think.
The top 3 per cent pay about 28% of all tax revenue and the top 10% pay 46% of tax revenue.
People get confused because they don't understand the difference between wealth and income. You can own a million dollar house (which makes you a millionaire) and pay no tax (because you have no income). The media writes misleading articles about this to trick people into thinking the rich don't pay taxes but it's a lie.
@guyonthecouch136 na I've been cynical so long I expect this sort of thing now. I do frequently think about leaving the country though 😕
Watching this makes me exhale highly exaggerated sighs of pissed off air...
T'axe accountant here. This is 100% legit.
Can you make sure you get your customers T’axes submitted before June 30 of the following year so they don’t get debts From other public services. -Someone who deals with tax returns
Clever, funny and depressing at the same time. Thanks Jimmy.
"Ink is expensive Jason, have you ever bought a printer?"
Now it makes sense
Cheaper the printer more expensive the ink
@@taylor.... Yeah that's why I keep an $85 printer solely for work and tax documents. The cartridges are an excellent deduction :D
Jason, don't screw that up. You'll need it for Tax purposes
For the next 12 months you mean?
Don't be stupid Jason! For the next 5 years!
🤣😭😭
I thought it was 7 years.
@@judieloveday1643 Judie, Judie, Judie...
It used to be 7 years but changed a little while back to only 5 years. :)
Except if you don't file a tax return. Then they can ask you for the information whenever they like. Like 20 years later.
@@daxriley8195nice touch
Let's calculate it at the end of the year. But make the end of the year in the middle of the year 😂😂
Watching this just reminds and frustrates me how much we pay in taxes and then government just pisses it away
Yeah, like on a referendum that no one asked for.
And they just ignored the outcome anyway.
Never have I heard the Infernal Revenue system explained so clearly !
No this is the ATO Australian Tax Orifice, I meant Office. We pay Income Tax and GST Goods and Services Tax, Stamp Duty and Rates.
😢
Don't forget to make sure to make the biggest corporations and our billionaires are exempt
Yep! I suspect that's what he meant by "what money?!" in his beginning overview of tax brackets lol
They do that by going to other countries that charge less tax.
@@jsquared1013 I believe it's worse than that. Look up Michael West media billionaire's loophole.
Mind you, the loophole was closed but only because of green and labor law change
We design a tax system so everyone gets to think they are winning by being clever.
In reality, we tax people based on how likely we think they are to take the money and talent elsewhere.
THE STAMP!!!!!!!!!!!!😂😂😂😂😂😂😂😂😂
Jason doesn’t get paid enough for this….
He actually does, but it's t'axed
Love these characters and what a wicked analysis! Spot on Jimmy.
As an American.....it's a horrible system here, too!
Even worse there from what I hear. Your taxes don't get applied automatically.
@@cjlister8508 Not at all. It's an unnecessary complicated system. Just like most things in the USA.
@@jenniferbates2811
Also it's been shown that your government doesn't really use much (or any) of that T'axe to pay for the necessary and good things for people. It apparently just disappears. Also your government keeps printing more money to help them pay for things they don't do. And while the top 20%, 5%, 1% and 0.01% get exponentially more richer... the bottom 50% get poorer. And so does the international community who have to fund USA currency.
But mah military!
We have way better Axes 🪓 though 🤣
I'm pretty sure biden took notes from our polies.
I used to be able to buy a set of bike cranks from the usa delivered after exchange rate nearly doubled it, and shipping was about 250 bucks, vs 650 atleast if purchased locally.
You missed corporations not paying tax because they own the government.
giggle and hoot, if you know you know
yep
So funny and is the most honest version of taxes that I have ever heard.
Next you will have to do hecs and tax man lol. Yeah the Axe to Tax lol.
Poor Jason 😂
Sooo, in short you have to earn so little you can't get taxed or so much you have someone who makes sure you don't get taxed, just don't end up in the middle group or your f 'axed, or something that sounds like that 🤨.
That's actually a fairly accurate statement
@chrispile5553 Nothing fair about that statement. Accurate yes! Fair? No!
Bingo
Very accurate representation of how Australia’s tax system was developed😳
Unsure if a comedy skit or a documentary 😂
Absolutely funny and true 😂😂😂 if you want, I can arrange to book Jason with an accountant to file a Tax Return. Maybe he can get back the cost of that ink 😅😅😅😮
Yes Jimmy that time of year thanks for the reminder 😅😂
And they think Dutton will be better hahahaha. NOT!!!!
He won’t… but they both suck so much
That hurt.
We don't want people retiring comfortably. Nope they don't
Well if you could you would stop working wouldnt you. Bad for the economy. Much better to work into your mid 70s
Please please never stop doing 'The guy who decides'... 💪🏽🤣👍🏽
Yep, Straya
Loving this new series of videos Jimmy - well done!
"No Jason, nothing is immune from the t'axe!" (retirement plans in untouchable safes)
Don't scrunch that up Jason! You'll need that for tax purposes 😂😂
Perfect explanation of our t-axe system and it is amazing how the gov turns into Stevie Wonder when it comes to the very rich/donor class.
So depressing and true and yet only Jimmy could make it funny
Nailed it again Jimmy 💜💜
What about the large companies that get away with not paying T.axe at all...?
That was explained here: 0:40-0:45
franchise pay the most taxes in australia 90% of business
The fact that Jason is my brothers name somehow makes this even funnier 😂😂
That was depressing!
😂😂😂😂😂😂
Finally, Tax explained in lament terms... Very frustrating but yet so funny 😅
The reason EOY, Financial Year, & Company Tax Returns are spread is so people who work on the calculations aren’t overworked by everything in one go.
That’s one thing he missed. There’s a special set of rules for farmers. And I’m not making this up it’s called PP
giggle and hoot
It be like that , oh u earn more money. Well hello high tax
Yup that's accurate
hahaha, haven't seen a new part of "say it properly" in a while though. great content xD
The take-axe
“And so you drive your car to the accountant to pay to look at your tax?” “That’s right, and t’axe the petrol they drive with too!”
I knew how messed up tax was, but saying it the way you did, it is so much worse..
Just started flying a drone for vehicle inspections. They are so cool! I need to get some time saving like you have done on your trailer but on a much smaller scale. Love your work!
Congratulations jimmy on the kings Honors. Can’t wait to see the video on the man who decides kings Honors. Well done and looking forward to many more.
Me too, being put among the past being Rolf Harris and his third leg and the present Danny boy.😅😅
Dick Emery vibes: You've been drinking, sir? I most certainly have. I've been drinking ever since this morning!
"Smells like another video" 🤣🤣
Geez. That was funny but you gave me heartburn hearing the truth of it
🤣We need more videos on this topic. Perhaps deductions for different workers at the checkout?
So true, so comical, but man is this triggering😂😂
Going to see your show in Launceston tonight 😊😂..
Spot on
Yeah, you've pretty much got that ~
In the US the thirteenth amendment was supposed to end slavery!
NO, it just turned it into a government monopoly! The government is allowed to mandate forced labour, if it so chooses e.g. military conscription!
In Australia it is little different!
And some sole trader classifications will see you pay 45% of your income to tax - why should you get the privilege to work for yourself instead of for a corporation which doesn't pay you or the ATO? That's not fair on the economy.
Imagine if everyone just said nope.. Apart from the rich hahaha they already don't have too
well done mate
the giggle i had about the land tax! don’t forget kiddos, land tax year ends with the calendar year, unlike your usual tax year! not that it’s gonna matter for those of us who’ll never own one land, let alone two!
Unlike the rates they don’t even take the bins!
T Axe - genius
Social services stole mine tax refund
N now ur reminded me to file my taxes….😅🇦🇺
The world waking up to the slavery. Can you do one about how usury has always been illegal?
And Jason if you don't want to call it a tax you can call it a Levy and the Governments will still take your hard earned money. And Jason there is a tax on whatever is in his glass 🍸
He forgot fringe benefit tax, the most f’d of them all.
And don't forget... Alcohol, live stock, gambling, flights, insurance, planning, vehicle and import taxes.... Yes sheep have their own tax and the insurance that you need to buy to avoid the Medicare levy surcharge is also taxed (in addition to GST)
way to go, government :P
What if people invest and make some money so they're less reliant on the government? Tax that too Jason. Call it investment gain, no capital gain.
😂😂😂 accurate
I heard a Canadian say Californians have super high tax. I looked it up 12% income tax.. 😅
That's only their state tax isn't it? You still have federal income tax on top
@MrToranaGuy Good thought, maybe that's where the rest of the tax is hiding. I did wonder if the taxes were just on other things too. I don't really know what their GST equivalent is or anything. Or fuel tax for that matter. But the person I heard threw out 60% as their number, and it seemed a pretty long way from the 12% income tax 🤔
@@sewathomelast time I was stateside, sales tax, aka gst, was charged on items in each individual state and it varied from state to state.
To be fair the tax system here isn't too bad, having it automatically taken out of your pay usually works better because you don't get a massive tax bill each year so it is easier to manage your money, and with some deductions you can often get a refund which feels a lot better than in other countries as it is like a reward for doing your taxes. Not to mention that doing your own taxes is pretty simple nowadays, if you wait till September usually everything is automatically filled out for you so you can be done in under 10 minutes or 20 if you have some deductions, so you don't need to pay a heap of money for an accountant either. We also have tax included in advertised prices so you know how much something will cost before you buy it. Overall it is a very convenient tax system compared to other countries, but it is still frustrating how much goes to tax, mainly because of how much of that gets wasted on/by politicians.
Omg, life crisis!!
ink IS expensive
My doctor said I shouldn't get angry before bed. What address should I send this bill to?
this year will be the first time since the 08/09 financial year that I will have to do a tax return..I hope I get something back...I was a carer for family members, until they up and died..then I had to find a job..
I’m feeling sick from all the camera zooms :P and from all those damn T-axes!
But you can avoid t'axes if you take everyone's natural resources, offshore expenses, and take pollies out of long lunches
Get the T'Axe out
And we'll promise to change the rules to make the asset deduction threshold $20k, but not actually change the rules yet so it's still only $1k 🍸
Traumatising axe!!!!
Quite clever.
I though he was wearing a tie hen I saw the thumbnail
And people vote to keep this system. 😞
roflmao....why isnt this 101 tax video on the ato front page.
Part of the t'axe goes towards a guy who writes speeches (for $300,000 a year) because the guy who we are paying t'axe to isn't competent enough to tell us what he should know in his own words. If the guy being paid $300,000 a year to write speeches for the guy that we are paying directly knows more than the guy the speeches are being written for then the wrong guy is in that position. Something needs to be done to Shorten the list of people that everyone is being t'axed to be paid.
Umm, I'm pretty sure there are 2 ppl writing the speeches..... 😢
Property tax just pushes the rent people pay up.
Or sell their rental property (like we did) because of all the compliance, associated costs and headaches sorting it all out. Yes, I could have a rental person do it (tried that) but that costs a lot, plus there’s a tax on that too.
Surprise pikachu face when you agree to participate in a regulated market you have to comply with regulations. Glad to see you realised it was too much work and expense so you decided to invest in assets you can afford.
The big 4 banks, are actually gov backed, so are...Safe....
build the house and this isn't as much a thing
Is stuper annuation like a V8 stupor car?
Jimmy, you have summed up Treasury in one video.
This should be compulsory education viewing in all schoold to teach financial literacy.
Wait... your the guy i always see in adds.
You are being stolen from. You know you are being stolen from. Yet, year after year, you let it happen.
All tax systems are unfair. That's why I support a blanket flat tax. It's unfair too, but at least it's easy to understand. Everything is taxed exactly the same percentage regardless of what it is. The more you spend, the more tax you pay.
Haha
crickey jimmy is getting political
Have a look at what products attract GST 😉
T axe