Vic Wasteland Thread - 15.0

[dezz]

Nice of 88e to offer an option at .018

[UNR33L]

Is this forum ded 

[emts]

new phone who dis

[Leroy Peterson]

Clive Palmer world domination 2025

[Odium]

What happened to Clive Palmer? He kept texting me, but since Saturday night I feel like I'm being ghosted.

[Count Grantleyish]

What happened to Clive Palmer? He kept texting me, but since Saturday night I feel like I'm being ghosted. [emoji20]

Aw, poor you.

[Leroy Peterson]

Sold out of CPH today, they got bought some Canadian medicinal marijuana company...

So if 20% of my holdings are over 12 months old... does that mean I only pay tax on 80% of the profit, since those shares I've owned for less than 12 months?

[TiTAN]

Treat every buy separately. First in, first out. If that individual buy is older than 12 months and made a profit it gets the reduced tax benefit. If the other buys aren't old enough they go full tax rate.

[Leroy Peterson]

So if my first buy is at a loss... I pay no tax?
Then second buy is all the profit and all the tax.

[UNR33L]

Government in a nutshell ^

 

Anyone going to Subi Nats 7th July at Philip Island? 

Yes I realize I'm on a Skyline forum 

[TiTAN]

So if my first buy is at a loss... I pay no tax?
Then second buy is all the profit and all the tax.

Yes. Or the first buy losses offsets the second buys taxes.

That's the way the accountant told me to do it, treat all buys as individual transactions (as they are) and sales take shares out of the earliest transaction until it's done then move on to the next oldest. If you do it that way the tax office has nothing to argue about you doing anything dodgy.

[Birds]

The CGT reduction is 50%, so you only pay half the tax on profits from any capital holdings over 12 months old. If that's 20% of your shares, then you can nominate ANY 20% of your shares in the company to apply the reduction.

As you haven't sold any of the shares you have realised a loss yet, so even if those older shares were sold at a loss, it's irrelevant. What matters here is your average purchase price and your average sell price - what is left over is your profit. 20% of that profit you could argue should only be taxed at half the rate, whilst the remaining 80% will be taxed at the full capital gains tax rate.

[Leroy Peterson]

Litecoin surging... At break even point. Will probably pull out soon and re-enter later once it dips (and it will).
Got to try and remember how to use my ledgerwallet now... lol

Speaking of pulling out... What's a realistic budget for a wedding? Not looking at receptions at this point... So just venue, snacks/catering/seating, photos, flowers, celebrant etc.
Asking for a friend who is budgeting for the future.

[emts]

Ignoring reception I would think it would cost circa:

 

pre marriage course	240
Veil	260
Dress	3610
Photographer	3600
wedding cars	1660
Church	800
invitations & stationary	1419.49
Florist	500
Her wedding band	2300
His wedding band	735

[Leroy Peterson]

800 for a church seems decent.
Gonna add another zero onto the end of that for the heathen ceremony at a venue outside of baby jesus' unblinking eyes.

[Birds]

Get married at the registry - in and out in 20 minutes. Genuinely one of the better weddings I've been to. Your guests will love you for not making them stand/sit still for a couple hours and the bride has no excuse to be late.

Spend the rest of the money you saved on a reception at with a 9 course meal at Sake down the road in their private/basement function room/bar; walking distance so no transport required. Guests will also love you for this.

[dezz]

Don't get married, save 100% of all wedding costs, and again 20 fold when you inevitably get divorced and she takes 75% of everything you have. Not to mention all of the money saved while not being married.

[Count Grantleyish]

The hell is pre-wedding course?

And $735 for men's wedding band? Gold prices gone up or what? 

[emts]

a custom designed titanium with a gold inlay....

and to be married in a church you need to do a pre-wedding course, which I thought was a load of bollocks till I did it and had some good stuff. 

Oh and lots of religious stuff.

[Leroy Peterson]

My sister is doing the registry thing later this year and a big reception. I for one, do appreciate it not sucking up an entire weekend.

Personally, itd be nice to get it all over and done with in one afternoon. Engagement party to merge and meet families etc, that's about it. I know friends want to be involved but isn't it just easier to include a small handful and keep it low key?