Russia Vs. America; Here we go again kids!

Squidfayce

Lives under a bridge
Any particular reading you would suggest for someone with flexible monetary morals ;)
depends on your financial situation and asset position.

The ATO website is great. It literally tells you how you can legally avoid tax based on our tax laws. Most people overpay tax and never know.. A perfect example is abusing benefiting from Capital Gains exemptions on your personal home. Basically, the premise is you don’t have to pay any tax on the profit you make from the home you live in. This is Ok because they recognise that by the time you sell, the market has gone up and you’re likely to use the profits towards a purchase of your new home in the newer inflated market.

HOWEVER where it gets totally abusable beneficial is what’s called the “six year rule”. The ATO lets you be not live in that home for up to 6 years and continue to claim a capital gains exemption on that home’s capital gain for a further six years. Its also not a straight six years, it can be broken up. I.e. you could rent it out for 2 years, go traveling, come back, move in again and you’ve only used up 2 of the 6 years available to you . That’s 2 years tax free cap gains. You could go rent somewhere for that time too. If you live in an area where house price growth is exponential, you can abuse/benefit the hell out of this.

Another way to benefit is if you are upgrading (and are fortunate enough to keep the original home as an investment), where you upgrade to and how much you spend is of the utmost importance. Because while you are claiming cap gain exemptions for a further 6 years of growth on the investment property, you can’t claim the same exemption when you sell the home you upgraded to for that 6 year period of time. This might sound confusing, and seems like you’re just shifting the tax burden, but there are strategies to minimise the cap gain tax burden on the new home with a bit of planning. HMU in DM if you actually care to know more on that point specifically.

Further reading? Many accounting firms have great case studies on their websites, financial forums (warning - these are really unfriendly, ego driven places). Books are risky as the systems tends to evolve faster than these books account for. Look at set up of auto trading of shares/crypto. You can set automated take profit and buy orders that can largely automate small to large profit streams on volatile but “valuable” crypto like BTC and ETH (be mindful of having to pay tax at some point on any profit you realise that’s not reinvested).

There are more easy and questionable approaches, but I wont advocate for these here. I’m sure it will upset some people and then we get back to shit slinging. Also Offtopic as it is.
 
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Litenbror

Eats Squid
depends on your financial situation and asset position.

The ATO website is great. It literally tells you how you can legally avoid tax based on our tax laws. Most people overpay tax and never know.. A perfect example is abusing benefiting from Capital Gains exemptions on your personal home. Basically, the premise is you don’t have to pay any tax on the profit you make from the home you live in. This is Ok because they recognise that by the time you sell, the market has gone up and you’re likely to use the profits towards a purchase of your new home in the newer inflated market.

HOWEVER where it gets totally abusable beneficial is what’s called the “six year rule”. The ATO lets you be not live in that home for up to 6 years and continue to claim a capital gains exemption on that home’s capital gain for a further six years. Its also not a straight six years, it can be broken up. I.e. you could rent it out for 2 years, go traveling, come back, move in again and you’ve only used up 2 of the 6 years available to you . That’s 2 years tax free cap gains. You could go rent somewhere for that time too. If you live in an area where house price growth is exponential, you can abuse/benefit the hell out of this.

Another way to benefit is if you are upgrading (and are fortunate enough to keep the original home as an investment), where you upgrade to and how much you spend is of the utmost importance. Because while you are claiming cap gain exemptions for a further 6 years of growth on the investment property, you can’t claim the same exemption when you sell the home you upgraded to for that 6 year period of time. This might sound confusing, and seems like you’re just shifting the tax burden, but there are strategies to minimise the cap gain tax burden on the new home with a bit of planning. HMU in DM if you actually care to know more on that point specifically.

Further reading? Many accounting firms have great case studies on their websites, financial forums (warning - these are really unfriendly, ego driven places). Books are risky as the systems tends to evolve faster than these books account for. Look at set up of auto trading of shares/crypto. You can set automated take profit and buy orders that can largely automate small to large profit streams on volatile but “valuable” crypto like BTC and ETH (be mindful of having to pay tax at some point on any profit you realise that’s not reinvested).

There are more easy and questionable approaches, but I wont advocate for these here. I’m sure it will upset some people and then we get back to shit slinging.
Thanks for the detailed info, as I have found in the past a lot of the common ones require housing assets. Good advice on books they are dinosaurs in our current highly volatile digital age :D
 

Squidfayce

Lives under a bridge
Thanks for the detailed info, as I have found in the past a lot of the common ones require housing assets. Good advice on books they are dinosaurs in our current highly volatile digital age :D
yeah and people who do digital assets dont write books, but blogs and youtube etc. Its hard to sift through that stuff and determine what is good advice if you dont know anything about it. You camn learn though, just takes effort.
 

Squidfayce

Lives under a bridge
also a 99% guaranteed way of making money is to participate in IPO placements. if you sell same day, you are alomost guaranteed to make some money. The longer you hold the greater the risk/reward.

Its why the NUIX float was so scandalous because it almost immediately lost value - was the opposite of what every investor in the know expected to occur. Watch other peoples positions. I think there was even a Twitte rbot that tracked pelosi's trades (since been taken down).
 

Sky_Collapsed

did the rEseaRch
yes because if something really was going on they'd totally have their trackers on.

it's probably just the kremlin stirring the pot because they know people will comment on it.
 

Squidfayce

Lives under a bridge
yes because if something really was going on they'd totally have their trackers on.

it's probably just the kremlin stirring the pot because they know people will comment on it.
That what I'm saying. The problem is though that disinformation is Russia's strong point. You think that they wouldn't do it with their trackers on but you can never be sure.
 

Sky_Collapsed

did the rEseaRch
ah You're one of THOSE. makes sense.
you're trying to say that Russia are experts at disinformation when both sides do it. I simply just gave one scenario where we disinformation our way into a war.

I can come up with plenty other examples as well if i could be fucked.

Point is everyone does disinformation, Russia does it, America does it, Australia does it, we all do it.
 

Asininedrivel

caviar connoisseur
Point is everyone does disinformation, Russia does it, America does it, Australia does it, we all do it.
Yes and the point others have been trying to make is Russia is way more prolific with it. Last time I checked the USA / UK / Australia had not tried to interfere with and actively influence outcomes of Russian elections. Russia's fingerprints have been all over the Brexit Referendum and the 2016 US Presidential election (and probably the 2020 too) - and there's plenty of evidence to suggest without their involvement the results would've been very different.
 

Calvin27

Eats Squid
Yerp. Especially Germany. But Putin would be hanging himself if he did - something like 40% of their GDP is fuel exports to Western Europe.
Would likely stage a bit of damage to the Ukrainian pipeline. Force up the gas price and give europe less gas for a higher price - win for Russia, loss for europe.
 

PJO

in me vL comy
Would likely stage a bit of damage to the Ukrainian pipeline. Force up the gas price and give europe less gas for a higher price - win for Russia, loss for europe.
Yes, would inflict quite a bit of pain.
As a strategy though it is not good for Russia in the long term, Europe would hasten itself away from reliance on Russian gas.
Better for Russian if gas keeps flowing giving Pootin some leverage over Europe.
 

Flow-Rider

Burner
BP and Shell have long pulled operations out of Russia, Russia put out a statement that the extra gas will eventually go to China. Europe is already shipping in gas by boat, and ports can take more than one ship, no different to any other port.
 
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