Einstien on Income Tax

Albert Einstien used a tax agent called Leo Mattersdorf. He told the following story a few years after Einstein’s death in 1955…

One year while I was at his Princeton home preparing his return, Mrs Einstein, who was then still living, asked me to stay for lunch. During the course of the meal, the professor turned to me and with his inimitable chuckle said: “The hardest thing in the world to understand is income taxes.” I replied: “There is one thing more difficult, and that is your theory of relativity.” “Oh, no,” he replied, “that is easy.” To which Mrs Einstein commented, “Yes, for you.”

I claim to know a bit about tax, have a Science degree and am working my way through a Masters of Astronomy and I agree with Einstein. Tax is substantially harder.

My ten year old son understands the basics of relativity but still does not know all 51 CGT events (useless public school system).

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About Ken Mansell

As a stay at home Dad most of the week this is my way of pretending I am still the tax counsel of ASX and SEC listed companies, working at big 4 firms, working at the Federal Treasury, on the Henry Review and at Parliament House for the previous government.
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