Elder discrimination

dogbox · Guru

Elder discrimination

dogbox · Guru

i think the recent PWC story has more to do with using information not publicly known for the benefit of a few, also referred to as insider trading

msg · Guru

exactly the same effect. Though insider trading is mostly associated with the share market and purchase, selling or holding shares using information not available in the market.

-- Edited by msg on Thursday 16th of November 2023 09:46:34 AM

Cuppa · Guru

msg wrote:
What exactly are their obligations to society?

msg · Guru

Still motherhood statement

Aussie1 · Guru

Cuppa wrote:
msg wrote:
What exactly are their obligations to society?

Don't like the tax system in Australia and were not born here, feel free to go back where you came from. I am sure it is much fairer over there !

Cuppa · Guru

msg wrote:
Still motherhood statement

LOL. Mothers have been known to be right. I came across that meme & thought it appropriate. Not the sort of thing (memes) I generally post.

I'll say no more , I'm not here to change anyone's thinking, & feel I have expressed my view adequately.

dogbox · Guru

Cuppa wrote:

msg wrote:
What exactly are their obligations to society?

why do i see so many fat poor people ??

why do so many poor people have bad habits is it a life style thing?

what people spend their money on is their business, what they spend my money on (taxpayer) is of some concern when they expect me to share what i have worked for

society will always have people who need to be looked after/supported for any number of reasons. a helping hand is always better than a hand out, but unfortunately some people will always expect more than a helping hand an feel no obligation to make any contribution themselves or doing anything to close the gap.

Webmaster · Guru

Hi All,
Thanks for your input on this topic. Please ensure that your posts address the topic, and are not directed towards the person who posted them. We welcome debate and civil disagreements on issues; however personal attacks are not allowed.

Whenarewethere · Guru

My tenants will give me a year or two warning as they are at 15.98 metres & will have to use long (non plastic) straws & we are at 18.94 metres, so have until roughly 2040 if lucky, but I'll be dead anyway. Military Road Mosman, Sydney, water will be lapping at the kerb if all ice melts.

rmoor · Senior Member

Ahh. Whenarewethere, you live around the corner from my lovely sister....
Bought her a birthday card today for next week, she is hard to buy for.
My birthday tomorrow - I am turning "old" ha ha.
Now there is a story of rags to riches.
My brother in law had humble beginnings from a local small battling farm.
He worked his way up to become a long term CEO of one of the world's biggest I.T. companies.
Now they live at Mosman and he has a little sheep farm in the bush where he likes to happily push a few sheep around.
Which is where he started on the family's farm.
Yet, no pretences, no displays of wealth and would have paid humungous taxes.
Not everyone is a tax cheat, some work hard and pay their way fairly.
Still hard to buy for my sister though, been pondering on the solution for days!!!!!

Cuppa · Guru

rmoor wrote:

Not everyone is a tax cheat, some work hard and pay their way fairly.

Absolutely! As it should be.

I hope you didn't perceive me as anti-rich, or that I was suggesting that all wealthy people are bastards.

Some are.

Some are worse.

Cassie63 · Senior Member

Glad we sold our investment house pre covid. Wasnt worth keeping with all the overheads etc. made a loss best thing I ever did. Just retired debt free living off our super.

Mein · Senior Member

An Australian registered company, the shares of which are wholly owned by another company registered in the Cayman Islands, has, say, 50c on the dollar left after paying ALL of its operating costs (wages, rent, electricity & so on). Its parent company (headquartered in the Cayman Islands) charges it a licence fee of 50% of gross earnings for the privilege of using its name / its licenced computer software / various other 'reasons'.

Consequently, the Australian registered company sends 50% of its income to the Cayman Islands, as an expense item, and ends of with 0% profit here in Australia which, of course, means 0% income tax paid in Australia.

BHP started doing this in 2003. Google it!

But, you guys seem to know everything so don't let my contribution change your way of thinking!

Whenarewethere · Guru

rmoor wrote:
Ahh. Whenarewethere, you live around the corner from my lovely sister....
Bought her a birthday card today for next week, she is hard to buy for.
My birthday tomorrow - I am turning "old" ha ha.
Now there is a story of rags to riches.
My brother in law had humble beginnings from a local small battling farm.
He worked his way up to become a long term CEO of one of the world's biggest I.T. companies.
Now they live at Mosman and he has a little sheep farm in the bush where he likes to happily push a few sheep around.
Which is where he started on the family's farm.
Yet, no pretences, no displays of wealth and would have paid humungous taxes.
Not everyone is a tax cheat, some work hard and pay their way fairly.
Still hard to buy for my sister though, been pondering on the solution for days!!!!!

Our Mum worked her way up from a secretary to vise CEO of a reasonably large international company. Then spent all the money trying to stay alive from cancer. Just how it is. My sister lives in Mosman in Sirius Cove.

We all stopped buying presents for each other long ago as we all have too much stuff. If you have to buy something, make it consumable.

Very soon I will apply for my official "old" card for NSW, can apply 21 days ahead. Public transport for the day $2.50 so might start using it again.

PeterInSa · Guru

Re (and ends with 0% profit here in Australia which, of course, means 0% income tax paid in Australia)

I cannot see why the ATO cannot have a deep look into these companies and then charge them with Fraud. and a big fine..

rmoor · Senior Member

Mein. Yes. You hit the nail on the head.
Difficult to police.
At least we pick some of these companies up with the GST, but 10% is a small consolation.

Mein · Senior Member

I cannot see why the ATO cannot have a deep look into these companies and then charge them with Fraud. and a big fine.

Legally, it's not fraud, Peter.

Oz Computers Pty Ltd buys computers from Taipei Computer Company Inc. of Taiwan, which the company resells to Australian consumers. Oz Computers receives invoices from Taipei Computer Company for which it sends funds to Taiwan in payment and lawfully claims those payments as a legitimate business expense.

Oz Hamburgers Pty Ltd own the Australian master franchise for McDonalds for which it has agreed to pay 5% of its turnover to McDonalds USA. Every month, Oz Hamburgers sends $10,000,000 to McDonalds USA and lawfully claims those payments as a legitimate business expense.

However, in the case of Google Marketing Services (Cayman Islands) Inc and Google Australia Pty Ltd, Google Marketing Services sets their franchise / licence / service fee to Google Australia as an amount equal to the 'profit' Google Australia would have otherwise made. Google Australia ends up with 0% profit and pays 0% income tax and Google Marketing Services (Cayman Islands) Inc pays 3% income tax in accordance with Cayman Islands law.

dogbox · Guru

Mein wrote:

I cannot see why the ATO cannot have a deep look into these companies and then charge them with Fraud. and a big fine.

Legally, it's not fraud, Peter.
Oz Computers Pty Ltd buys computers from Taipei Computer Company Inc. of Taiwan, which the company resells to Australian consumers. Oz Computers receives invoices from Taipei Computer Company for which it sends funds to Taiwan in payment and lawfully claims those payments as a legitimate business expense.
Oz Hamburgers Pty Ltd own the Australian master franchise for McDonalds for which it has agreed to pay 5% of its turnover to McDonalds USA. Every month, Oz Hamburgers sends $10,000,000 to McDonalds USA and lawfully claims those payments as a legitimate business expense.
However, in the case of Google Marketing Services (Cayman Islands) Inc and Google Australia Pty Ltd, Google Marketing Services sets their franchise / licence / service fee to Google Australia as an amount equal to the 'profit' Google Australia would have otherwise made. Google Australia ends up with 0% profit and pays 0% income tax and Google Marketing Services (Cayman Islands) Inc pays 3% income tax in accordance with Cayman Islands law.

if it was illegal it would be delt with, until the government of the day changes the legislation that is how it will stay.

PeterInSa · Guru

Re ( sends funds to Taiwan in payment and lawfully claims those payments as a legitimate business expense.)

What I am suggesting is that these Invoices can be inflated ( am definitely not saying they are) , and an investigation could confirm this.

Agree the Cayman Island situation needs Gov. Legislation, I would have thought that a Labour Gov, would be interested in sharing the Tax load, with large importers/exporters and other fields for licencing and Technical support say paying their fair share..

msg · Guru

If you say it often enough it becomes true.

The Project had a similar section on boomers yesterday and then also Reddit today. Never been on Twitter, but most people say it is a cess pit. Reddit is worse.

Certainly seems like "they" are trying to create another H****r Youth movement by publishing these types of articles.

Young people seem to associate anyone over 40 as being boomers.

Latest on Reddit, is that while the government is desperately trying to reign in spending, by increasing interest rates, boomers have increased their spending by going on cruises all the time.
and are the cause of the current economic problems.

The vitriol in reddit was prompted by this article:
www.news.com.au/finance/money/costs/boomers-increase-spending-amid-cost-of-living-crisis-as-young-aussies-cut-back/news-story/322c6f06c9d2c13fa51c46208d7c6f7e

Something needs to be done about the newspapers for deliberately using this type of clickbait and deliberately causing harm. Could this be hate speech?