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A comment on Reported Bitcoin 'founder' Craig Wright's home raided by Australian police. Parent comment

Re:Reported Bitcoin 'founder' Craig Wright's home raided by ... by ps4fanboy on Wednesday December 09, 2015 @05:18AM (#10702866)
Yes, you have to spend the money though so youll still be down 55K, it doesnt count to things like capital purchases.
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Re:Reported Bitcoin 'founder' Craig Wright's home raided by ... by gordjw on Wednesday December 09, 2015 @07:33AM (#10703244)
Depends who owns the company you spend the $100k with.

They'd need to pay 30% tax on their income, leaving a net outlay by the government of $15k (15%) overall.

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Re:Reported Bitcoin 'founder' Craig Wright's home raided by ... by robzyb on Thursday December 17, 2015 @12:42AM (#10749801)
Their income would be less than the $100k. They would have incurred expenses when they provided the services.

I paid $100k, the provider took the $100k and spent $60k. This means they declare $40k income.

The company pays $12k tax.

The Goverment gives $55k to my hypothetical company.

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