Djiniyini and Richard discuss how previous NT government regulations have stopped Yolngu getting into business, particularly in areas like fishing, crabbing, and even crocodile skins. However with the intertidal zone returning to the hands of Yolngu people it’s hoped they can get into business now without too many regulations.
Djiniyini explains that some Yolngu are even hoping they can begin trading internationally again without a middle person being involved here in Australia. He and Richard discuss the necessity of fully investigating the regulations at both the Federal and Northern Territory government levels to know what’s possible.
Richard then answers Djiniyini’s questions in relation to tax, including how much tax the government charges small businesses and also what is provisional tax. Together they explore the GST and how businesses collect it and what happens if they don’t pay it.
They then talk about company tax and who is responsible if tax is not paid. They discuss how the CEO, chairman, and even the whole board are responsible, which is something many Yolngu don’t understand.
There is further discussion of how taxes are collected and divided between different States and Territories and how they then distribute it to various government departments. They discuss ownership of government money & public monies, and Djiniyini uses the example of the recent fires where the citizens demanded the government assist them with recovery.
There are 4 Stories in this podcast. Please see time stamps below –
- Story No. 1 Researching regulations related to Yolngu business 0:00
- Story No. 2 Understanding business taxation 8:23
- Story No. 3 When tax is paid or used incorrectly 27:35
- Story No. 4 Company tax and Directors’ responsibilities 38:53