@@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
I’m a t’axe lawyer. This was brilliant! Jimmy probably understands taxes better than many politicians! 😂😬😳 In Victoria, we now also have a windfall gains tax and a commercial and industrial property tax too. The SRO also no longer has physical stamps for stamp duty. They just issue assessments.🤷🏼♀️ I saw Jimmy’s show in Melbourne a couple of years ago. My husband and I had a chat and photo with him at the meet & greet before the show. Absolutely brilliant!☺️
@@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.
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 🤨.
@@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.
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!
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 😅😅😅😮
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.
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.
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.
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)
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!
You missed tabacco tax 90 percent Petrol 70 percent Alcohol 60 percent Groceries 10 percent Car. Rego 1000 dollars Insurance 1000 dollars Stamps 20 percent Transfer fee 2000 House rates 2000 House gst on bills 1000 Stamps 20 peecent Land tax on second plus 500 peecent, thanks Dan. Hmm and now i get to feed my family.? Are you fucking kidding me?
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!
Let’s math it out shall we. Using what is mentioned in this video and some average costs, let’s see how much is t’axed for a hypothetical average adult in Western Australia. The t’axe mentioned in this video are: Income, Land, Stamp Duty, (I will not use in this example) Local Govt. Rates, GST (Goods & Services T’axe), Superannuation (taken from gross salary and cannot be touched until the mandated retirement age set by our government), Company t’axe (I will not use in this example) Healthcare (a.k.a., Medicare) Levy. Hypothetical Western Australian adult: Average income = $100,000.00 Gross Super at 11% = $11,000 Income tax calculated for 2023/2024 = $22,967.00 Medicare levy at 2% = $2,000.00 Average size block in Perth = 400 sq. m. Local Govt. rates for block = $970 min. p/a (City of Swan, excl. Waste & Emergency services levies). Land tax for above block valued at $800,000 = $1,250.00 p/a. Hypothetical Living expenses: Mortgage of $30,000.00 p/a. Groceries of $9,000.00 p/a. ($900 is GST at 10%) Fuel (U98) $2,880 p/a ($288 GST, $1,296 Fuel excise) So, lets deduct it all together. $100,000 - $22,967 - $11,000 - $2,000 - $1,250 - $970 - $30,000 mortgage - $9,000 food - $900 - $2,880 fuel - $288 - $1,296 = $17,449.00 Net income p/a remaining. Of which, $40,671.00 goes to our Govt. via the T’axe. (calculation excludes; fees & charges for banks and other businesses, eating out & entertainment, hobbies, etc.) What do you people think about it? Remember, it is only an example to show how much T’axe we Australians pay.
@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..
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.
![[Part 1] ทารกน้อยถูกทิ้ง👶 หญิงชราเก็บขวดขายเลี้ยงดูเขาจนโต #โลกการละคร](http://i.ytimg.com/vi/nPTDvFCExks/mqdefault.jpg)
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...
Clever, funny and depressing at the same time. Thanks Jimmy.
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
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.
"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
I’m a t’axe lawyer. This was brilliant!
Jimmy probably understands taxes better than many politicians! 😂😬😳
In Victoria, we now also have a windfall gains tax and a commercial and industrial property tax too. The SRO also no longer has physical stamps for stamp duty. They just issue assessments.🤷🏼♀️
I saw Jimmy’s show in Melbourne a couple of years ago. My husband and I had a chat and photo with him at the meet & greet before the show. Absolutely brilliant!☺️
Let's calculate it at the end of the year. But make the end of the year in the middle of the year 😂😂
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.
"No Jason, nothing is immune from the t'axe!" (retirement plans in untouchable safes)
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.
Don't scrunch that up Jason! You'll need that for tax purposes 😂😂
Hahah this helped me study for my business studies exams hahaha. And the medicare and private health insurance is a part of my PDHPE content
So funny and is the most honest version of taxes that I have ever heard.
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
Please please never stop doing 'The guy who decides'... 💪🏽🤣👍🏽
Yes Jimmy that time of year thanks for the reminder 😅😂
THE STAMP!!!!!!!!!!!!😂😂😂😂😂😂😂😂😂
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
It be like that , oh u earn more money. Well hello high tax
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.
So depressing and true and yet only Jimmy could make it funny
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!
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 😅😅😅😮
Loving this new series of videos Jimmy - well done!
Very accurate representation of how Australia’s tax system was developed😳
Unsure if a comedy skit or a documentary 😂
Next you will have to do hecs and tax man lol. Yeah the Axe to Tax lol.
I knew how messed up tax was, but saying it the way you did, it is so much worse..
giggle and hoot, if you know you know
yep
Geez. That was funny but you gave me heartburn hearing the truth of it
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.
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
Fringe benefits tax year is April to March!
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.😅😅
And they think Dutton will be better hahahaha. NOT!!!!
He won’t… but they both suck so much
Nailed it again Jimmy 💜💜
So true, so comical, but man is this triggering😂😂
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..... 😢
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
You missed corporations not paying tax because they own the government.
Yep, Straya
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.
😂😂😂😂😂😂
Finally, Tax explained in lament terms... Very frustrating but yet so funny 😅
Poor Jason 😂
That hurt.
The fact that Jason is my brothers name somehow makes this even funnier 😂😂
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 🍸
Yup that's accurate
"Smells like another video" 🤣🤣
@JimmyRees - This is GREAT, but would be even greater, if you had been dressed as King George, III.
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)
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!
That was depressing!
🤣We need more videos on this topic. Perhaps deductions for different workers at the checkout?
Imagine if everyone just said nope.. Apart from the rich hahaha they already don't have too
The take-axe
Social services stole mine tax refund
“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!”
You missed tabacco tax 90 percent
Petrol 70 percent
Alcohol 60 percent
Groceries 10 percent
Car. Rego 1000 dollars
Insurance 1000 dollars
Stamps 20 percent
Transfer fee 2000
House rates 2000
House gst on bills 1000
Stamps 20 peecent
Land tax on second plus 500 peecent, thanks Dan.
Hmm and now i get to feed my family.?
Are you fucking kidding me?
Coulda mentioned death tax haha
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!
Going to see your show in Launceston tonight 😊😂..
hahaha, haven't seen a new part of "say it properly" in a while though. great content xD
He forgot fringe benefit tax, the most f’d of them all.
Dick Emery vibes: You've been drinking, sir? I most certainly have. I've been drinking ever since this morning!
T Axe - genius
Get the T'Axe out
Let’s math it out shall we.
Using what is mentioned in this video and some average costs, let’s see how much is t’axed for a hypothetical average adult in Western Australia.
The t’axe mentioned in this video are:
Income,
Land,
Stamp Duty, (I will not use in this example)
Local Govt. Rates,
GST (Goods & Services T’axe),
Superannuation (taken from gross salary and cannot be touched until the mandated retirement age set by our government),
Company t’axe (I will not use in this example)
Healthcare (a.k.a., Medicare) Levy.
Hypothetical Western Australian adult:
Average income = $100,000.00 Gross
Super at 11% = $11,000
Income tax calculated for 2023/2024 = $22,967.00
Medicare levy at 2% = $2,000.00
Average size block in Perth = 400 sq. m.
Local Govt. rates for block = $970 min. p/a (City of Swan, excl. Waste & Emergency services levies).
Land tax for above block valued at $800,000 = $1,250.00 p/a.
Hypothetical Living expenses:
Mortgage of $30,000.00 p/a.
Groceries of $9,000.00 p/a. ($900 is GST at 10%)
Fuel (U98) $2,880 p/a ($288 GST, $1,296 Fuel excise)
So, lets deduct it all together.
$100,000
- $22,967
- $11,000
- $2,000
- $1,250
- $970
- $30,000 mortgage
- $9,000 food
- $900
- $2,880 fuel
- $288
- $1,296
= $17,449.00 Net income p/a remaining.
Of which, $40,671.00 goes to our Govt. via the T’axe.
(calculation excludes; fees & charges for banks and other businesses, eating out & entertainment, hobbies, etc.)
What do you people think about it? Remember, it is only an example to show how much T’axe we Australians pay.
Does anyone still think we pay the least amount of tax?
The world waking up to the slavery. Can you do one about how usury has always been illegal?
giggle and hoot
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.
Yeah, you've pretty much got that ~
Bloody Jason!
Omg, life crisis!!
The t ax is after me!
way to go, government :P
well done mate
In one of his books, Terry Pratchett called Taxes : Extorting Money With Menaces.
You are being stolen from. You know you are being stolen from. Yet, year after year, you let it happen.
Spot on
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.
N now ur reminded me to file my taxes….😅🇦🇺
My doctor said I shouldn't get angry before bed. What address should I send this bill to?
Traumatising axe!!!!
Quite clever.
Jimmy, you have summed up Treasury in one video.
This should be compulsory education viewing in all schoold to teach financial literacy.
I’m feeling sick from all the camera zooms :P and from all those damn T-axes!
And people vote to keep this system. 😞
I'm hearing Dudley Moore, movie Arthur.
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.
😂😂😂 accurate
roflmao....why isnt this 101 tax video on the ato front page.
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..
The big 4 banks, are actually gov backed, so are...Safe....
But you can avoid t'axes if you take everyone's natural resources, offshore expenses, and take pollies out of long lunches
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.
ink IS expensive