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On Thu, 02 Apr 2009 14:45:47 -0700, Darren New wrote:
> Jim Henderson wrote:
>> There's no guarantee he'd need to pay income tax on it. I don't know
>> what the tax law is in Australia, but here in the US, you can register
>> as a nonprofit organization. I suspect you can in Australia as well.
>
> That's probably pretty expensive right there. :-)
I don't know; our local community organization recently submitted
paperwork to reinstate their non-profit status as a 503(c)(4) non-profit,
and I don't know that there was any cost.
>> But if the contributions are low enough, they're not taxable anyways.
>> I know this is the case in the US - income < $600 doesn't have to be
>> reported (I collected about $50 last year in book royalties).
>
> Note that "doesn't need to be reported" != "not taxable".
A minor distinction, since the low income isn't required to be reported
even - but even if it is reported, it in and of itself isn't taxed.
I went through this whole thing when my first book was published, because
the advance was taxable but the taxes weren't taken off the top. :-)
>> Financing development isn't really the issue, I think. It's that Saul
>> would like to give back in some way. I think the sentiment is a good
>> one with any "free" development effort.
>
> A fund to help pay hosting fees, or against rainy days like the server
> dying, would seem to be reasonable. I don't know that there's any
> reasonable way to split up donations directly to the contributors.
I would say that the "rainy day" fund makes the most sense to me.
Jim
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