Kawasaki Sportsbike Riders Club - Australia - Online Forum

well r.e. the first one

mr taxman wrote:However, no deduction is allowed to the extent that the losses or outgoings are of a capital, private or domestic nature or are necessarily incurred in gaining or producing exempt income.

the busy taxman again wrote:n this case, the taxpayer intends to provide sponsorship in the belief that the exposure from that sponsorship will benefit his business in the form of advertising and will generate future income

and the second (the url was munged, not read the entire thing)

Thanks for the concern but as we are not a business nor are claiming any tax deductions for the $ donated, I really don't see what the ATO has to do with this..

Should we start a pledge thread? What is a fair amount to pledge? And what if I am a little broke, and am embarrased at the amount I am able to donate, so because I want to avoid embarrasement I don't pledge? Could it be a silent pledge? That would avoid crowing from people who can afford to pledge more too!!!

Strika wrote:Should we start a pledge thread? What is a fair amount to pledge? And what if I am a little broke, and am embarrased at the amount I am able to donate, so because I want to avoid embarrasement I don't pledge? Could it be a silent pledge? That would avoid crowing from people who can afford to pledge more too!!!

yea has to be a secret pledge....

just hope no one fucks around if u kno wot i mean...lets keep it serious...

MadKaw wrote:Thanks for the concern but as we are not a business nor are claiming any tax deductions for the $ donated, I really don't see what the ATO has to do with this..

thats what i was starting to think myself. Its being done for non profit, etc. If anything it'd be a concern for the blokes running the bikes, etc..

OK, how do I apply?

I think I do everything now for free that KSRC wants? I wear my KSRC shirts and bucket hat to every event including track days and social meetings, I have the bike plastered in KSRC stickers (and ordered 2 big one's for it), I talk to everyone nicely (inc kids), I thank the KSRC crew for their help everytime I win something, I ride a ZX6R and stick it to the big bores, and I finished 2nd in the M/C Sportmens F4 c/ship in my 1st year.

Even though I have setup a donation page on my website, I am not really chasing money as such (but it would be nice). All I want is some support at the races and maybe access to cheap/free parts/paint/advice/help/mech/website etc when I need it.

I can vouch for Big mitch he is & does all of the above.

If we can supply a XXXXXXXXXXLarge "boob toob" & Green Unbrella I'd even back him for the official KSRC-Gridgurlie position.

Mind you i'm sure Dave 1 (Madkaw) will also be doing the same in 2007 on his 7rr & he has much better ar$e according to Hemi

Mitch wrote:OK, how do I apply?

ummm i hope u got strong knees....

Dave - this is a great idea and should be supported by as many KSRC members as possible.

Les - I checked out those ATO links, and yes, tax-deductions apply to *taxpayers* who are running a *business*, and are seeking tax-deductability for m/cycle racing sponsorship. I am 100% sure that KSRC is not a registered *business* for the purposes of the Income Tax Act, ( it does not have to declare income, expenses etc as would a normal business) - so the issue of tax-deductions, forming a Registered Club etc under the applicable NSW laws is not an issue in this case ( I helped set up the local Z Owners branch here many years ago, and had to go through all this crap with committees, constitutions, bank accounts etc etc. KSRC is not in the same boat. This is a good thing ).

Personally, I reckon that deductions should be private, and that any amounts donated can be left with the nominated person (MadKaw), for appropriate disbursement to the nominated racer.

Having a 'race-fund' that is available to the nominated racer at the start of the year would be the best bet - you just wouldn't hand over 10 large at the start of a season better to have it available for ongoing running costs ( entry fees, transport costs to each meeting, fuel tyres etc), this assumes a reasonable race fund to start with. Its not hard to budget for entry fees, etc - there are only a finite number of rounds in any given race season.

just my 2c worth - and when I give the NSW PCRA Championships another nudge, expect a knock on the safe door !!!!

Gosling1 wrote:and when I give the NSW PCRA Championships another nudge, expect a knock on the safe door !!!!

Mate can't you n Big Mitch read!! No KSRC members are to be supported. And I agree. Personally, I'd be really pissy, if they gave either of you guys the dough over ME!

Strika wrote:

Gosling1 wrote:and when I give the NSW PCRA Championships another nudge, expect a knock on the safe door !!!!

Mate can't you n Big Mitch read!! No KSRC members are to be supported. And I agree. Personally, I'd be really pissy, if they gave either of you guys the dough over ME!

That basically means that we'll give you money if you piss off from KSRC...

Kishy didnt hang around long enough

Duane wrote:....That basically means that we'll give you money if you piss off from KSRC...

Kishy didnt hang around long enough

*touche !!* thats harsh mate ....

Marty - the latest poll does have voting buttons for a KSRC member who is racing in either State/National series. I think its a good idea, hell, I would chuck in some $$$ even if it WAS going to support you

Gosling1 wrote:

Duane wrote:....That basically means that we'll give you money if you piss off from KSRC...

Kishy didnt hang around long enough

*touche !!* thats harsh mate ....

Marty - the latest poll does have voting buttons for a KSRC member who is racing in either State/National series. I think its a good idea, hell, I would chuck in some $$$ even if it WAS going to support you

I'd be too embarrassed to take the money Gos. Plus the only support I need these days is around my middle!

Strika wrote:

Gosling1 wrote:

Duane wrote:....That basically means that we'll give you money if you piss off from KSRC...

Kishy didnt hang around long enough

*touche !!* thats harsh mate ....

Marty - the latest poll does have voting buttons for a KSRC member who is racing in either State/National series. I think its a good idea, hell, I would chuck in some $$$ even if it WAS going to support you

I'd be too embarrassed to take the money Gos. Plus the only support I need these days is around my middle!

mate we'd be too embarrassed to put our stickers on ur bike and see ya dawdle around the back of the pack on a lovely sunday arfternoon ride...



YOUR NOT GETTING THE $$$$$ ...

Anyhoo!! This Sponsorship is suppossed to be for an up and comer, not a down and goner!