General Q&A: 17/04/2024

Question Answered During This Q&A Webinar

00:06:24 John: Q:  My trading incorporated company has paid a number of expenses to my unincorporated (private) trust such as 150k marketing, 15K product management and 11K cleaning . 

 In preparing my last financial years tax return my accountant is asking  “Could you please provide details of what these payments are for?”  What should I say?  Should I just explain exactly what the amount was for i.e:  different types of marketing, product management and cleaning?

00:07:00 Claude: Q) How would you achieve 2nd witness principle (agreement) when – The Federal court judge has stated that she will not allow both 1. cross – examination of the ATO and will not allow 2. an order for interrogatories to be filed by the company compelling the ATO to answer questions because these 2 processes are only allowed when you question the ATO about matters of FACT (actual events) and not about questions of LAW (what is conceived).  She will make a verdict on the principles of law when the evidence is presented.  Therefore, in a hearing when each side presents their case what method would you use to achieve 2nd witness principle (agreement) and in the process, not dishonor the court?

00:07:31 Claude: Q) What are your thoughts on this?  When my friend was married to his wife he paid 80% of her higher education fees (60K) to get her masters degree, and now she can use this to get her permanent residency in Aus.  Unfortunately, now that they are recently separated he would like her to pay half of that back to him which she has refused.  He would like to know if there is merit in taking this case to court so that he can claim half of it back?

00:07:59 Rob: Q1: Hi Mark, when discharging liabilities of loans via BOE’s/Promissory Notes, does it, or have you ever heard of/known it to affect future borrowing capacity or eligibility, or is the debt removed from your “ledger”?

Q2: When using A4V to discharge a liability, what sections of the BOE Act (or other Acts) do you reference when ‘holding your position’? Is the A4V method just considered a BOE as a money order?

Q3: How do you transfer a property from your legal entity to a private trust? Does the titles office recognise property/land held in private trust, and if so, do they recognise and accept a change of ownership from legal entity to private trust?

00:08:40 Daisy Doone: I know you may not know the NZ legislation etc   but do you know of a way of  holding the  NZ council members accountable?  Do not all public servants have to swear an oath of office to the people,  have a bond & indemnity insurance?  Are they free of personal liability here in NZ?  Someone said you cannot sue the council,   but can you hold the private man accountable, eg CEO and sue him? Do you know about  this in NZ?  Surely if they do not hold accountability to the people  that is a dictatorship by a private corporation?

00:10:02 Jace: Hi Mark, Last month I was asking about productivity of labour I had made through my ABN, & you advised I should declare it & use other expenses to get below the tax threshold as the ATO would have a record of it. I have since called the ATO & probed them for a record of my earnings through said ABN ‘I stated to them I was after their record of it to see if it balanced with my calculations of how much I had earnt, so as not to declare incorrectly’ I was quite persistent with them & they claimed they had no record of it & that the only way I could access it was through the NDIS company which I sent my invoices to.

Q. With this information would you still advise for me to declare all productivity of labour made through my ABN on the tax returns or could I now use the second method where I declare only a small amount for the use of the fictional dead entities bank account?

00:10:28 Christopher Burow: Is there any issues with having a foreign party as a beneficiary of a private trust, if they aren’t residents or citizens of a commonwealth country?

00:11:29 Pete:: Question Hi Mark is there a plan B if Com Bank stop the private trust bank account is it essential to using this product or can a regular account be suffice?

00:11:38 evina: I have opened an account on a crypto exchange in my private trust name. They still asked me where the money comes from and wanted documents for it. Are they allowed to ask, considering it’s a private trust?

00:14:45 :Samuel: L: Q. The ATO states that people have to keep their records for seven years so is it  a breach of their rules or a crime if they shred documents such as their notice that we converted to a contract and the payment instruments ?

00:16:54 Grant: Q. What is the best way to hold your position when the government agency which has been paid using the promissory note process and had 3 notices sent to them, but in the correspondence received back, they denied the validity of the process and then proceeded to garnishee my wages. I sent a complaint to the Ombudsman and after 8 months they came back and decided they didn’t want to investigate. I had previously reported them to the National Anticorruption Commission, but they refused to investigate them as well

00:19:03 Howie: I have contacted the bank to open a trust account they say they can only open this up under a business profile. Does this matter?

00:21:16 evina: I sill haven’t bought a property as we can’t own it. As a result, I am still renting. Would it still be better to buy rather than to rent in the future?

00:26:18 Chris: Q: Do judges still require a writ of commission and a bonding agreement?

00:27:00 Pete:: Q Origin energy have been peppered by me (being the Equitable Beneficial trust estate tittle holder of the named account )with set up questions for 12 months now regarding the BOE process and  it’s finally been escalated to the senior Credit dept person , I’ve asked for proof they dont have to uphold federal law in respect to a BOE or send all previous original BOEs they have confirmed as being received so I can settle the administrative matter peacefully, what should I respond with if they continue to ignore both instructions ? I’ve reserved my rights since beginning of the process and sent them the FOI that no such evidence was found to state gov agents are a exempt from the Bills of Exchange act 1909 also the maxim of law stating tender refused equals the debt is discharged , is there any more I need to add to cover all bases ?

00:28:22 :Samuel: L: Q. What strategies have you used relating to capital gains on crypto ? Someone asked me about how they would go  and not engage capital gainsabout liquidating crypto

00:28:44 Daisy Doone: QUESTION … Is there any real difference between a contract and/or agreement?

00:29:00 Claude: Q) If the ATO have not replied to all your 3 notices re PN or BoE discharge of a tax liability,…when it eventually goes to court , can you move the court for ‘Default Judgment’ because they did not reply , therefore by assent they have agreed to your position.

00:31:59 :Samuel: L: Q. When setting up a trust bank account and the trust deed has another trust as beneficiary do you think that the bank will ask to see the trust deed of the other trust so that they can know who the beneficiaries are?

00:33:02 GlenGS: Q) rang trademarks ($500- each registration). They said ONLY register YOUR name in all capitals as it covers all variations of upper & lower cases of the name. 

I mentioned about only personally owning your name is in all lower case & first letter capitals only. They said NO. all capitals covers all versions of upper & lower case spelling of your name.

Need to add a category BUT they could not give advice on what category to select for trademarking your own name. There is no “personal/individual” category to select

00:37:06 Veronika S’ska: why are pool fences required yet my pond doesnt, nor do the large puddles that form in my yard nor the coast line, lakes or my birdbath. surely it is just another control mechanism.?

00:41:14 Mark C: Veronika: barriers required for water greater than 30cm depth

00:43:27 :Samuel: L: of the Canadian consumer purchase process in Australia ? I believe the consumer purchase allows one to purchase goods using a BoE or PM as long as the goods are used for non-business purposes – is that right?Q. What is the equivalent

00:44:58 :Kathryn: K (NSW): In a recent speed camera traffic fine court appearance  we asked for the right to face the accuser and asked for the camera to be called to the witness box 3 times. The magistrate said this was nonsense and that he had evidence by camera photo and speed camera information and gave a fine 4x the original fine.  What should we have asked instead.

00:45:19 :Samuel: L: Q. Sorry I forgot to place a Q in front of my question. Do you know the equivalent of the Canadian consumer purchase in Australia? I’m led to believe that the Canadian consumer purchase allows one to purchase goods using a BoE or PM as long as those goods are not used for business purposes.