Memory, memory, memory. Mine's not as bad as a frontbencher here in parliament who 'forgot' to declare a vested interested during a vote on legislation referring to housing. The legislation has altered the rules on negative gearing of properties, a financial terminology. Negative gearing is a blatant tax rort legitimate deduction on investment properties. An investment property is one other than your living address, assuming you have the money for such plurality. So for instance if I am listed as the owner of property A, with my wife as the owner of property B, and we live together then they can't both be listed as of 'investment' type, right ? Well yes ....
- list A as my investment property and I pay the mortgage
- list B as my wife's investment property and she pays that mortgage
- be very unclear about who actually is located where on any particular night ( but we gift each other the uses of the relevant abodes, because we have kind mutual feelings* )
- both get interest costs on borrowing deducted ( the bulk of & maybe 100% ), and since early on in any loan that is the dominant component of any repayment then
- we effectively get one lot of mortgage repayments free ( either A or B if similiar valued properties ).
- for bonus points chuck in a few arms-length entities like family trusts.
- even if we don't love each other that's still a great trick. If we fall out with each other then all that tax benefit is still retained for suitable asset division on the day.
Anyway he forgot to mention one of the properties. It just happened to be worth $2.3 million AUD. The relevant tax advantage was something over $200K AUD per year for the whole gig. Mind you I too forget about loose change in the car, you know the 20c coins that slip under the mat but the vacuum cleaner nicely finds for you ....
Now it is admitted that all members of the electorate could take advantage of this scenario as well. Democracy rules. Apparently many don't, something to do with lack of asset/income/etc. But you can't help some people ... that destitute lot do really cause most of their problems, right ?
Which political party you may ask ? Well it's the one that staunchly represents the working class and the downtrodden poor masses of course. Which is a much better solution than being exploited by greedy oppressive capitalists. Plus 'limousine lefty' is merely a nasty label from the right wingers. But the revelation could easily have emerged from any variety of political varnish. Indeed the whole legislative effort has split parliament. Oddly though, not on party lines ( including the boneheads that introduced it to the chamber ). It is being viewed as somewhat like the iceberg that sank the Titanic, which doomed both port and starboard sides of that vessel ( will there be enough room on the lifeboats though ? ) Can you guess what might be the specific determinant for any given member's vote ? :-)))
Cheers, Mike.
* Double bonus points : 'charge' each other rent ....
I have made this letter longer than usual because I lack the time to make it shorter ...
... and my other CPU is a Ryzen 5950X :-) Blaise Pascal
Under the tax rules we have to nominate our "main" home as a single property, and any other properties owned are classed as "second" homes. If you sell your main home no Capital gains tax is paid, but it is paid on any profit made on the sale of a second home. I also think that two people living together or married cant both nominate the same home as their main one for "tax purposes" and each have a second home as well. Also we wouldn't get away with not making it clear who lives where at any given time, that would cause great suspicion that a fiddle was going on.
What many MP's in the UK do, and under parliamentary & tax rules it is quite permissible, is what's called "flipping". i.e. MP's that have their constituencies far enough away e.g. outside the M25 boundary, where it is unreasonable to expect them to commute to Westminster every day, are allowed to have a London flat or modest house to live and sleep in during the week, going back home at weekends. This London based home is eligible for expenses claims for mortgage payments, re-decorating, maintenance, renewal of carpets and appliances etc etc.
It's all on the basis that MP's in far flung constituencies shouldn't be seriously out of pocket by choosing to represent their area as an MP. But of course this is what they do.
Year 1 - Nominate the constituency home as the main one and the London flat as the funded one. Upgrade the London flat with new TV, microwave, fridge freezer etc at tax payers expense.
Year 2 - Nominate the London flat as the main home and the constituency home as the funded one. Upgrade the family home at tax payers expense.
Year 3 - Flip it all back again. and so on .....
In addition to that a lot of MP's rent out the London flat although tax payer funded, and flat share with another MP, making even more money. Apparently this is seen as acceptable recompense for being away from home and family 5 days out of 7. This is on top of the perk of all the extra marital affairs going on when MP hubby/wife is let loose in London all week a with a cosy Pied à Terre! And they have the cheek to complain that they are hard done by!!!
Quote:
Mind you I too forget about loose change in the car, you know the 20c coins that slip under the mat but the vacuum cleaner nicely finds for you ....
And .... how many people declare income from their more than occasional Ebay sales to the taxman? It is all classed as unearned income.
Waiting for Godot & salvation :-)
Why do doctors have to practice?
You'd think they'd have got it right by now
Which political party you may ask ? Well it's the one that staunchly represents the working class and the downtrodden poor masses of course.
Ah yes, Labour or the Loony Left
Quote:
Which is a much better solution than being exploited by greedy oppressive capitalists.
Oh those are the Tories, the rich boys club who went to posh schools.
Over here we have the Greens, the tree huggers, and UKIP, the beer 'n baccy party. Dunno about the Titanic, UK politics at present is more like the Mary Celeste!!
Quote:
Can you guess what might be the specific determinant for any given member's vote ? :-)))
What's in it for me?
Actually the vote is very simple as my old dad used to say "If you haven't got any money and you want to get some, vote labour. If you've got money and want to keep it, you vote Tory. If you're a don't know you vote Liberal". You can add to that that if "none of the above" applies, don't bother to vote at all. In my door knocking activities the increase in being told, we don't vote any more thanks, is increasing noticeably.
But as an old lady I know says "It's all a waste of time voting, the Government always gets in!".
Waiting for Godot & salvation :-)
Why do doctors have to practice?
You'd think they'd have got it right by now
Well, the plan I outlined is the real deal. You have to obfuscate that to yield the full treasure, the main tool here being the arms-length entities. In parliament the "it's not what you know but who you know" factor has a higher return ....
Cheers, Mike.
I have made this letter longer than usual because I lack the time to make it shorter ...
... and my other CPU is a Ryzen 5950X :-) Blaise Pascal
Well, the expenses committee which scrutinizes (casually looks through) MP's expense claims is run by guess who? The Speakers Office! I think moves are afoot to change that. Best mates with the Speaker, rubber stamp job. But all MP's have to publish their expense claims for the public to read.
Quote:
The basic annual salary for an MP from 1 April 2016 is £74,962. MPs also receive expenses to cover the costs of running an office, employing staff, having somewhere to live in London and in their constituency, and travelling between Parliament and their constituency. pay and expenses
£75K these days is a basic company directors salary, and the average constituency here is 65,000 people. They say that, plus the addition of running the country, makes their responsibility at an equivalent level and they are not over-paid in comparison. Plus Directors aren't expected to open Church fetes and give after dinner speeches to Rotary and Chamber of Commerce in their own time.
It is the scurrilous few out of the 650 that give the rest a bad name, and coupled with a tabloid press that muck rakes to survive, turns the public off across the board.
p.s. If Mike would prefer to hide this post that is OK with me, but I will leave the subject here :-))
Waiting for Godot & salvation :-)
Why do doctors have to practice?
You'd think they'd have got it right by now
Posting after dinner.
Posting after dinner. :-)
Homemade Chilli. :-)
Back at the top, and WINNING!!!!! :-)
TimeLord04
Have TARDIS, will travel...
Come along K-9!
Join SETI Refugees
Bedtime.
Bedtime.
David
Miserable old git
Patiently waiting for the asteroid with my name on it.
Memory, memory, memory.
Memory, memory, memory. Mine's not as bad as a frontbencher here in parliament who 'forgot' to declare a vested interested during a vote on legislation referring to housing. The legislation has altered the rules on negative gearing of properties, a financial terminology. Negative gearing is a
blatant tax rortlegitimate deduction on investment properties. An investment property is one other than your living address, assuming you have the money for such plurality. So for instance if I am listed as the owner of property A, with my wife as the owner of property B, and we live together then they can't both be listed as of 'investment' type, right ? Well yes ....- list A as my investment property and I pay the mortgage
- list B as my wife's investment property and she pays that mortgage
- be very unclear about who actually is located where on any particular night ( but we gift each other the uses of the relevant abodes, because we have kind mutual feelings* )
- both get interest costs on borrowing deducted ( the bulk of & maybe 100% ), and since early on in any loan that is the dominant component of any repayment then
- we effectively get one lot of mortgage repayments free ( either A or B if similiar valued properties ).
- for bonus points chuck in a few arms-length entities like family trusts.
- even if we don't love each other that's still a great trick. If we fall out with each other then all that tax benefit is still retained for suitable asset division on the day.
Anyway he forgot to mention one of the properties. It just happened to be worth $2.3 million AUD. The relevant tax advantage was something over $200K AUD per year for the whole gig. Mind you I too forget about loose change in the car, you know the 20c coins that slip under the mat but the vacuum cleaner nicely finds for you ....
Now it is admitted that all members of the electorate could take advantage of this scenario as well. Democracy rules. Apparently many don't, something to do with lack of asset/income/etc. But you can't help some people ... that destitute lot do really cause most of their problems, right ?
Which political party you may ask ? Well it's the one that staunchly represents the working class and the downtrodden poor masses of course. Which is a much better solution than being exploited by greedy oppressive capitalists. Plus 'limousine lefty' is merely a nasty label from the right wingers. But the revelation could easily have emerged from any variety of political varnish. Indeed the whole legislative effort has split parliament. Oddly though, not on party lines ( including the boneheads that introduced it to the chamber ). It is being viewed as somewhat like the iceberg that sank the Titanic, which doomed both port and starboard sides of that vessel ( will there be enough room on the lifeboats though ? ) Can you guess what might be the specific determinant for any given member's vote ? :-)))
Cheers, Mike.
* Double bonus points : 'charge' each other rent ....
I have made this letter longer than usual because I lack the time to make it shorter ...
... and my other CPU is a Ryzen 5950X :-) Blaise Pascal
Goodnight everyone.
Goodnight everyone. :-)
Back at the top, and WINNING!!!!! :-)
TimeLord04
Have TARDIS, will travel...
Come along K-9!
Join SETI Refugees
Well we can't quite do that
Well we can't quite do that here.
Under the tax rules we have to nominate our "main" home as a single property, and any other properties owned are classed as "second" homes. If you sell your main home no Capital gains tax is paid, but it is paid on any profit made on the sale of a second home. I also think that two people living together or married cant both nominate the same home as their main one for "tax purposes" and each have a second home as well. Also we wouldn't get away with not making it clear who lives where at any given time, that would cause great suspicion that a fiddle was going on.
What many MP's in the UK do, and under parliamentary & tax rules it is quite permissible, is what's called "flipping". i.e. MP's that have their constituencies far enough away e.g. outside the M25 boundary, where it is unreasonable to expect them to commute to Westminster every day, are allowed to have a London flat or modest house to live and sleep in during the week, going back home at weekends. This London based home is eligible for expenses claims for mortgage payments, re-decorating, maintenance, renewal of carpets and appliances etc etc.
It's all on the basis that MP's in far flung constituencies shouldn't be seriously out of pocket by choosing to represent their area as an MP. But of course this is what they do.
Year 1 - Nominate the constituency home as the main one and the London flat as the funded one. Upgrade the London flat with new TV, microwave, fridge freezer etc at tax payers expense.
Year 2 - Nominate the London flat as the main home and the constituency home as the funded one. Upgrade the family home at tax payers expense.
Year 3 - Flip it all back again. and so on .....
In addition to that a lot of MP's rent out the London flat although tax payer funded, and flat share with another MP, making even more money. Apparently this is seen as acceptable recompense for being away from home and family 5 days out of 7. This is on top of the perk of all the extra marital affairs going on when MP hubby/wife is let loose in London all week a with a cosy Pied à Terre! And they have the cheek to complain that they are hard done by!!!
And .... how many people declare income from their more than occasional Ebay sales to the taxman? It is all classed as unearned income.
Waiting for Godot & salvation :-)
Why do doctors have to practice?
You'd think they'd have got it right by now
RE: Which political party
Ah yes, Labour or the Loony Left
Oh those are the Tories, the rich boys club who went to posh schools.
Over here we have the Greens, the tree huggers, and UKIP, the beer 'n baccy party. Dunno about the Titanic, UK politics at present is more like the Mary Celeste!!
What's in it for me?
Actually the vote is very simple as my old dad used to say "If you haven't got any money and you want to get some, vote labour. If you've got money and want to keep it, you vote Tory. If you're a don't know you vote Liberal". You can add to that that if "none of the above" applies, don't bother to vote at all. In my door knocking activities the increase in being told, we don't vote any more thanks, is increasing noticeably.
But as an old lady I know says "It's all a waste of time voting, the Government always gets in!".
Waiting for Godot & salvation :-)
Why do doctors have to practice?
You'd think they'd have got it right by now
Well, the plan I outlined is
Well, the plan I outlined is the real deal. You have to obfuscate that to yield the full treasure, the main tool here being the arms-length entities. In parliament the "it's not what you know but who you know" factor has a higher return ....
Cheers, Mike.
I have made this letter longer than usual because I lack the time to make it shorter ...
... and my other CPU is a Ryzen 5950X :-) Blaise Pascal
Uh oh, things have gone
Uh oh, things have gone political.
Annie minion :)
Einstein@Home Verified Contributor (I think?)
RE: Uh oh, things have gone
Mea culpa ... self moderate .. whack head with mallet ... I owe a double round at the Bar !!!
Cheers, Mike.
( edit ) There is substantial overlap b/w generalised idiocy and politics that the line is soooo blurred. :-0
I have made this letter longer than usual because I lack the time to make it shorter ...
... and my other CPU is a Ryzen 5950X :-) Blaise Pascal
Well, the expenses committee
Well, the expenses committee which scrutinizes (casually looks through) MP's expense claims is run by guess who? The Speakers Office! I think moves are afoot to change that. Best mates with the Speaker, rubber stamp job. But all MP's have to publish their expense claims for the public to read.
£75K these days is a basic company directors salary, and the average constituency here is 65,000 people. They say that, plus the addition of running the country, makes their responsibility at an equivalent level and they are not over-paid in comparison. Plus Directors aren't expected to open Church fetes and give after dinner speeches to Rotary and Chamber of Commerce in their own time.
It is the scurrilous few out of the 650 that give the rest a bad name, and coupled with a tabloid press that muck rakes to survive, turns the public off across the board.
p.s. If Mike would prefer to hide this post that is OK with me, but I will leave the subject here :-))
Waiting for Godot & salvation :-)
Why do doctors have to practice?
You'd think they'd have got it right by now