This is the Message Centre for darakat - Now with pockets!

HECS DEPT Loophole.

Post 1

darakat - Now with pockets!

So my last rant was a week ago yes? Well that means I have until my week 14 to create a new wound-ours peace of philosophy meanwhile I shall tell a tale from my scrupulously and generally boring life, the more exiting bite of, anyway.

You see I have been thinking about what I shall do after I finish university (if all goes to plan next year @ december 20th). The problem is that I have this massive HECS debt building up in my tax office number and there is a nice little loop hole. Renounce my australian citizenship and get a british passport and move to the UK. Namely Wales because its small, wet, contains interesting examples of 15th century architecture but most of all because I will no longer have a $43,000 debit, of course this debit stays with my accounts and if I ever go back here I will have a massive debit. Of course I don't have to move to wales, I could go to any country of my choosing, its just that I have to become a permeant citizen and with my dad still being a citizen of the UK I can apply for a UK passport (as long as Tony and/or the Tory party doesn't stop this). Going to the US for example would also get rid of the dept but I have to become a permeant citizen for this loophole to work. You see it all relies on me avoiding Australian Tax Law regulation 37 B (iii) which states that the Tax of australia is only applicable in Australian land and territories and therefore if I move overseas I no longer have to pay the HECS dept. Its a sneaky way out of it, but since what will be my likely income I am going to have the dam dept with me for the rest of my life if I don't do something like this. However it does mean that I can no longer claim residence in Australia over-wise the tax man comes a calling and I have somewhere in the region of $45k (thanks to bloody howard this is + interest + 3% per year so its probably much more by that time). of course I will do almost anything to get rid of this dept and helping the Howard government or even a Lathum government gain a profit from my education (they should realize that my knowledge and tax bill that are not HECS are the things getting them money. At current the national HECS dept for all Australians is about $8 billion and will rise by about $2 billion a year now). I hate to think that someone would profit from my education through means thats not my education. So any suggestions as to where I should go? Wales? US? Canada? Hell I could move to New Zealand and get my HECS dept written off.


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Post 2

Tacysa

I think I'd go to Venezuela and educate the heathen like a local youth group is doing. *tittersinsanely*


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Post 3

darakat - Now with pockets!

isnt that one of the most devout Christian nations in the world?


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Post 4

Chad H

Uhh, you might wanna check with someone who knows this stuff, I dont think HECS is tax, I think its a Bond. Therefore, those rules on Australian Tax limitations may not apply.


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Post 5

darakat - Now with pockets!

Actually it is a confirmed loophole, you can't have australian tax applied outside australia and since HECS is an addition to tax through the tax act it also does not apply. This has of course been confirmed by the SA.


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Post 6

Flying Betty- Now with added nickname tag!

That's a sweet loophole. I don't think I can get out of my college debt just by fleeing the country. Scotland comes highly recommended by a friend of mine, but Wales sounds nice too.


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Post 7

Tacysa

I'm a space snot; I don't want to be where there are more people crammed in a square foot than there are here. Oh, wait, there are only...ten people within two square miles.


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Post 8

darakat - Now with pockets!

Move here, we have 2.2 people per square kilometer, we have the population of florida in a very large space.


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Post 9

Mr. Carrot

Or here, where we've got 4.5 million people spread out over the whole country, in all sorts of obscure and isolated spots.


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Post 10

darakat - Now with pockets!

Yes but we have a land-mass roughly equivalent to that of the moons surface area


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Post 11

Tacysa

What is the yearly average in any form of precipitation? What is the predominant life form? GNP? Caves?


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Post 12

darakat - Now with pockets!

Small, Bacteria, Lots, Yes.


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Post 13

Tacysa

I need water, but you do have orchids. Bacteria, ha. Smartass. You have a gross national product of lots?


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Post 14

Flying Betty- Now with added nickname tag!

Better than having one of not very much at all.


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Post 15

darakat - Now with pockets!

its acutely a couple of thousand billion, we have a AA credit rating though


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Post 16

Tacysa

I like rain. Credit ratings don't keep debtors from loaning more money. I just spent all lunch with an accounting freak, don't ask.


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Post 17

darakat - Now with pockets!

Well our rating is all due to the "banana republic" remarks made by former prime minister Paul Keeting


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Post 18

Tacysa

*snorts*


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