Wednesday, 19 February 2014

Death of Taxes

Earlier this week I was discussing taxation with a friend who told me he hardly ever pays any taxes. Between his investment properties and his accountant, that is a pain he does not need to endure.
Today I was chatting with another friend who is considering buying a car. He will lease it under his company name, so as to deduct the costs from his taxes.
There is nothing illegal with these two cases. Everything they do is done in the open, above the table. It's just that these two cases demonstrate all too vividly how easy it is for people with assets to avoid paying taxes. Or rather, if you do pay normal taxes - you know, something like 30% of your income - then you're either too poor or too much of an idiot.
I am having a hard time determining which of these two I happen to be.

Image by Michael Fleshman, Creative Commons licence

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