I'm giving the ATO ideas here. I plan to be legal, but the rules are super complicated. I'm being up front and transparent. I know I probably sound evil, but please don't be mean to me.
I'm looking at a business proposition, where my company will be paid for IT engineering services (which I'd do). However my wife doesn't work and I'd like to split my income with her. I see that there's a thing called PSI, which prevents me from splitting the income.
As it's a B2B contract I have many options for setting this up. Some of which may sound pretty shady; I'd like to get the ATOs input on them.
Simple version: My ABN would be paid 150K EUR + 25K stock + 25k crypto. I understand in this setup, there's no way to split the tax burden with family, even if my wife works as a supporting role in the company (doing admin etc.)
Dogiest option: My wife owns a company in a non listed country, with lighter tax laws. The money goes there, gets taxed, and then shipped to our family trust in Australia, then split. My understanding is this would be tax avoidance and completely illegal.
Another option: My company has the option to be paid 100% in crypto. It would then sell that crypto and pay CGT on it and distribute the profit to our family trust.
Twisty logic: In this case, because the ATO doesn't treat crypto as money, therefore I'm basically not getting paid for professional services, the company would be some sort of crypto trading company ? and splitting the tax would be fine ?
Yes, we're living in the future where there are business deals 100% in crypto, for about 250k AUD per year.
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