Tax Free Property Investment?

http://finance.ninemsn.com.au/newsbusiness/8819551/sydney-churchs-1-2b-wealth-revealed

I'm wondering, is it possible for me to start up my own religion and classify the rental payments from my tenants as a tithe so that I don't have to pay tax?

I would name my religion the Brotherhood Society, or BS for short. And part of the BS religion will be to support the church of BS in which I am the supreme overlord/god/ruler by offering me money and in exchange I will provide them with shelter.

It will be based of the book of BS. Which states that "In the beginning Tim created thou Holy Rental Accommodation. On the first day thou Holy One renovated thy bathroom. On the second day He renovated thy kitchen. On the third day he painted thy house. On the fourth day he fixed up those cracks in thy wall. On the fifth day he replaced thy old rusty ceiling fans. On the sixth day he put in new stairs out the front. And on the seventh day he rested, and it was good".

Of course later on there was "The Great Flood...of 2011 in Brisbane. But the Holy One said unto them that if they have faith in thy council designated 1 in 100 year flood height, then they-eth would be saved from thou waters of doom. And they had faith and thy hearts were pure and thy LCD TV's remained undamaged by flood waters."
 
Yes. It is being done already. And you don't need a new or unique philisophy you could set up a sect of an existing religion. The organisation just needs tax exempt status.

These groups can also avoid stamp duty and land tax.
 
Australia as a country does not officially recognize any religion. Individual organisations may be granted tax-exempt or charitable status subject to the group complying with different tax-laws.

Have a read of the below link:

https://en.wikipedia.org/wiki/Section_116_of_the_Australian_Constitution

http://www.acnc.gov.au/ACNC/FTS/Fact_RelChar.aspx

That's a good read to. By the looks of it you can be classed as a Charity under the condition that it's for religious advancement.

So it seems that as long as my religion of BS is trying to spread the "word" then I'll be fine :)
 
Yes. It is being done already. And you don't need a new or unique philisophy you could set up a sect of an existing religion. The organisation just needs tax exempt status.

These groups can also avoid stamp duty and land tax.

Really. Any examples of it already being done?
 
Really. Any examples of it already being done?

I've heard that Scientology was essentially the result a bet that Ron Hubbard made (and won). This could be complete rumor.

In the 90s Melbourne University offered free parking to the head of any student body club or association. One enterprising student created the "Kite Flyers" club with a few friends to exploit this. It turned into one of the biggest student union social events of the year and he got a free car park.

In 4 years I do not recall anyone flying a kite at Melbourne Uni.
 
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...I'm wondering, is it possible for me to start up my own religion and classify the rental payments from my tenants as a tithe so that I don't have to pay tax?...

Virtuous-Investing.jpg
 
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