Advice Column | Speaking My Truth As One Of The 60 Millionaires Who Paid No Tax This Year — The Betoota Advocate

Advice Column | Speaking My Truth As One Of The 60 Millionaires Who Paid No Tax This Year — The Betoota Advocate

DR CHET SPEVENS | Finance Expert | Contact

Since coming out as one of Australia’s 60 millionaires who paid no tax this financial year, I’ve been copping a lot of unfair criticism from Australians who wrongly claim I should be paying my ‘fair share’ like everyone else. 

But I’m not like everyone else.

I’m special.

Which is why I’ve decided to stand up and speak my truth.

Not for me, but for the other 59 millionaires who’ve had their voices silenced during this shameful saga.

Here’s my truth.

What most Aussies don’t know is that my lived experience of trying to avoid paying tax has been an incredibly painful one.

That’s because the so-called ‘media’ won’t tell Australians about the sheer amount of work that goes in to reducing your taxable income to zero, especially when you’ve got so much fucking income!

But you see, this is the problem. The everyday Aussies and the media journos that are so quick to criticise, a lot of them aren’t even millionaires so they don’t actually have a clue what they’re talking about. 

They’d be singing a different tune if they knew I’d spent over $250,000 managing my tax affairs alone this year, and almost 4 times that on legal fees fighting the ATO on the point of whether I’ve paid enough tax or not. 

Sure, maybe those expenses are themselves tax deductible, but Aussies just don’t want to admit how hard it is. They wilfully ignore the effort it takes to actually get up off your couch and have a fair bloody go in this country.

What astounds me is the hypocrisy of it all. 

Every single Aussie tries to reduce their taxable income. That’s just a fact.  Everyone’s happy to claim travel related expenses, uniform cleaning, and the working from home deductions. Yet when I do it I’m a monster?! 

Yea right.

It makes me sick. And what’s worse, nobody seems to appreciate the fact that I’ve got so much more to lose than most people, because I’m a multi-millionaire dammit!

Hell, if I actually stopped avoiding it and paid tax at the rate I should, I’d be paying more tax each year than what most Australian’s earn in a life time.

Does that seem fair to you?

This is my truth, it’s my lived experience, and if you can’t handle one tax avoiding millionaire’s truth then go fuck yourself.

Author: Stephen Bailey