retirement

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Changone

Guest
More like monopoly....
The big supermarkets pricing the corner shop out of existence.
It's just not people friendly and definitely not good for competition in the long term.
Twiggy Forrest (FMG) was recently in a bit of bother for being seen as suggesting an "Iron ore cartel".
 
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pooyai

Guest
Moo Uaon;221663 said:
in the case of rio tinto they paid $6.2 billion in taxes in Oz last financial year.

Well I may have shot from the hip, and I think that is your point and fairly taken too. But I wont be patting them on the back just yet. Typically a big MNC like that files taxes in many jurisdictions, with different timeframes and rules. The ATO assesses them, then as assessments are issued in other jurisdictions the MNC seeks amendments, as was the case with the Murdoch one I mentioned, it had been going on for 10 years. Also every year I imagine they have argy bargy with the tax office that goes on for years, objections, revised rulings, so you couldn't confidently state how much tax they have paid until many years later. And as another poster mentioned some of that figure is royalties. I don't object to companies minimising their tax as they are entitled to do just as I don't object to workers collectively bargaining for better outcomes. But I do object to cnuts like Murdoch who not only minimise their tax but try to rule the world, he does a pretty good job of manipulating the current Aust Gov

I get the franked dividend argument but those wealthy people behave similarly to MNC in dealings with the tax office. I have a few gold mining shares and they pay unfranked dividends for some reason
 
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pooyai

Guest
I reckon Thailand has a 2 speed economy and I think China might have a bit too. Like here the unregulated, black or grey, cash only, no or minimal records always seems to be booming whereas the official economy is seen as slowing down just had an official interest rate cut, knocked the baht about a quarter of a cent lower I think. But I bet the cash/black loan rate is still a minimum of 18%.
 
M

meese

Guest
pooyai;221908 said:
I reckon Thailand has a 2 speed economy and I think China might have a bit too. Like here the unregulated, black or grey, cash only, no or minimal records always seems to be booming whereas the official economy is seen as slowing down just had an official interest rate cut, knocked the baht about a quarter of a cent lower I think. But I bet the cash/black loan rate is still a minimum of 18%.
we call it the formal and informal economy here...and yes its also mostly cash..some done on the book....sometimes i think the informal economy is bigger than formal one......
 

Nomad

Well-known member
pooyai;221906 said:
I have a few gold mining shares and they pay unfranked dividends for some reason

Typically because of years and years of losses which can be used to offset income before paying taxes.
 
C

Changone

Guest

The name of the game has always been buying cheap and selling expensive.
In Australia we no longer manufacture anything much. The last Toyota Camry rolled off our assembly lines this week.
100 Years ago England got all our primary produce for a song and sold us back most of the prefabricated steel needed to build the Sydney Harbor bridge.
Not to mention all the Tram cars that originally used to drive back and forth over it. (They let us make the rivets....).
Today we are buying sophisticated upgrades to US made fighter jets at astronomical prices just to keep them viable and paying for it with Iron ore, Coal and LNG royalties.
We try and keep up by selling our cattle to the Indonesians, and hiring out our soldiers but it isn't anywhere near enough.
Nothing changes...
 

Moo Uaon

Well-known member
pooyai;221906 said:
Well I may have shot from the hip, and I think that is your point and fairly taken too. But I wont be patting them on the back just yet. Typically a big MNC like that files taxes in many jurisdictions, with different timeframes and rules. The ATO assesses them, then as assessments are issued in other jurisdictions the MNC seeks amendments, as was the case with the Murdoch one I mentioned, it had been going on for 10 years. Also every year I imagine they have argy bargy with the tax office that goes on for years, objections, revised rulings, so you couldn't confidently state how much tax they have paid until many years later. And as another poster mentioned some of that figure is royalties. I don't object to companies minimising their tax as they are entitled to do just as I don't object to workers collectively bargaining for better outcomes. But I do object to cnuts like Murdoch who not only minimise their tax but try to rule the world, he does a pretty good job of manipulating the current Aust Gov

I get the franked dividend argument but those wealthy people behave similarly to MNC in dealings with the tax office. I have a few gold mining shares and they pay unfranked dividends for some reason
there's certainly a lot of trade off's and allowances made for big business...family trusts and the like for the real smarties.

but in the end a business like rio tinto is employing many Aussies,buying machinery building mines and putting a lot of money into the Oz economy other than taxes.

not trying to justify all the perks and the like but i do have a little understanding of how it all works.

FMG was mentioned...they built a railway,procured the cars and engines and provided jobs for skilled drivers....big big investment in the local economy....i'm sure someone will know where the trains and cars came from :)
 

jontymate

Active member
Whilst in this arena ...... what about one of the largest and wealthiest organisations in the world not paying tax. The church.
 
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pooyai

Guest
As I mentioned before Defence procurement needs to be held up by the ankles and shaken to its lying rotten core. It's not any one person its the whole from the military czars who push for certain equipment, the public servants that back it up by writing white papers that are rewritten every 5 years these days, the politicians who fall back on purchasing toys as a gesture and a sideshow and finally the turds who actually do the procuring.

Some examples, straight on top of the hugely expensive Collins class debacle they are going head with a submarine program about 3 times as expensive - for what do we need so many submarines - to "punch above our weight". We had no submarines in either world war (well we did but only for a very short time) and as far as I can tell it made no difference and those were submarine wars. Where is an enemy going to come from that we could defend ourselves with 8 conventional submarines? Remote controlled submersibles could probably cover much of the task - if any.

The Joint Strike Fighter, don't they know dogfights are gone these days its all about the drone much cheaper and just as effective, sure we need some aerial muscle but 100 of em?

The failed naval helicopter program where they spent a billion on trying to develop a 40 year old American chopper into an effective modern platform and in the end gave up.

The Abrams tank where the Yanks talked us into buying their cast offs at a huge price, these will never fire a shot in anger, I mean are we going to have a tank war in the Simpson desert

What they need is a fast mobile army with local produced light armoured vehicles, based in the north not at Holsworthy, fast capable small ships and lots of them and fighters bought off the shelf for a quarter of the price of the JSF. Rant concludes.
 

Minder

Well-known member
Distantpeak;221005 said:
I'd like to know what you can do at 35 you can't do at 50?
Eat anything you like and not worry about the consquences ... :??:


Bacon;221300 said:
... the world is more complicated and with it so are people's ideas about what constitutes accomplishment and success, which for most people in the past has been raising a litter. .....
lakeboy;221429 said:
Hell, I've told my kids they can live with me forever as long as they look after me when I get old. I've seen the old age home thing...I don't want to end up there.
These may be the same kids who will never have raised any children or cared for anything beyond their Facebook page?

Hope there is a "Feed Dad" app on their smart phone by then...or...

... how long you think before the Emergency service Androids will be kicking down the door to investigate that smell? .....555

Enjoy...
 

Quarky

Administrator
Minder;222048 said:
Eat anything you like and not worry about the consquences ... :??:
I was a lot fatter at 35 than I am now. I started gaining weight too easily from my late twenties... wasn't until I reached my 40s I worked out I was playing a dangerous game with my health... and not until the last couple of years I took it even more seriously.
 
M

meese

Guest
Distantpeak;222059 said:
I was a lot fatter at 35 than I am now. I started gaining weight too easily from my late twenties... wasn't until I reached my 40s I worked out I was playing a dangerous game with my health... and not until the last couple of years I took it even more seriously.
wait until you get into the 50's 555555
 
M

meese

Guest
Distantpeak;222101 said:
Hopefully I'll be fitter than I have ever been!.. 555
does not work that way DP 5555.....you have to work harder to just maintain....
 

MarcTwoSix

Well-known member
meese;222145 said:
does not work that way DP 5555.....you have to work harder to just maintain....
But DP lives a lifestyle that it does work that way....for him
I've met him and talked to him and I'd put a lot of money on him being more fit in his 50's

I know many people that are more fit in their late 40' and 50's than they were in their 30's because they take their health more seriously
 

Quarky

Administrator
meese;222145 said:
does not work that way DP 5555.....you have to work harder to just maintain....
I'm only a few months away from finding out... and am doing ok so far.... and I agree it gets harder to maintain. You just have to be smarter.... with diet and exercise...
 
C

Changone

Guest
Nobody is saying you can't be fit in your fifties sixties or seventies.
If you have been there though, as some of us have, you may find that the investment you will have to make is redoubled every few years older you get. Also, parts of your body like joints etc wear out and don't work as well as before meaning you have to work around that to get a result. In fact the more you have run before your fifties, the more likely you will face joint problems. Sorry, it's just one of those getting older things, as anyone will delight in telling you then...
 
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