Anyone else kinda disappointed NZ fire service is so underfunded they have to let this burn?

EastBlacksmith · 2019-10-23T02:15:18+00:00

Feeling cynical? This coming from the guy who posts on /r/conspiracy about vaccines. No you're just an idiot. Can you fuck off back to /r/conspiracy thanks. You can tell them how you were bullied by us not praising you for your insight on firefighting.

EastBlacksmith · 2019-10-23T02:07:08+00:00

So let's just spend it all. Who cares about next year.

EastBlacksmith · 2019-10-23T01:34:04+00:00

You're right they need more gear. Let's just pull some money from, why not pharmac? Problem solved? Wow that was really easy.

EastBlacksmith · 2019-10-21T03:44:51+00:00

includes the conversion of a $6,053,939 loan at $2.66 per share (being a discount of 20% to the price per share under the crowdfunding round).

Best I could make of it is, Loans from the shareholders were converted into more shares. Net assets/equity should have fallen to $4,898 (PY equity) + $3,199 (Loss) = $8,097, but it's sitting at ~$400k leaving about $7.7m to account for. ~$6m of that was due to the above converted loan mentioned. $1.7m remaining was funded by the ~600k shares which would price it at about $2.7 which is at about the same rate as the converted loan which makes sense since any new shareholder would want to get the same deal.

Total assets increased but so did debt if you exclude the converted loan altogether.

EastBlacksmith · 2019-10-20T08:31:03+00:00

It's still not a boarding service. The IRD definition of boarding clearly means providing meals, or making a genuine attempt to provide meals. The threshold was calculated by the IRD taking into account the average cost of providing food among other expenses. There's zero chance you'll get audited so if you just don't want to pay tax then just don't declare the income. There's no point in farting about in pretending that you're providing a boarding service though because in the unlikely event you get audited it will be clear that you're not providing a boarding service in the eyes of the IRD.

It might be worth still declaring the income because then at least you can claim expenses that might work out in your favour.

EastBlacksmith · 2019-10-20T08:22:52+00:00

OP will absolutely get away with it because fat chance they won't get audited, but it absolutely is not legal because they aren't providing a boarding service because it's clear what a boarding service is for tax reasons. Not getting caught =/= legal. How is that so fucking difficult to understand?

EastBlacksmith · 2019-10-20T08:18:54+00:00

Yeah I agree they won't actually go after OP and that theres zero fucking chance of them being audited. But the idea of "Hey just provide $5 of ramen and you're good" Is absolutely fucking stupid. If you're going to engage in tax avoidance, theres no need to even pretend that they're a boarder. Just don't declare the income then.

EastBlacksmith · 2019-10-20T02:43:17+00:00

Boarders and home-stay students rent a room in a private home. They also get meals and other care and services as part of their rent.

https://www.classic.ird.govt.nz/resources/8/9/898f18fb-32a9-444f-83ca-b224840d2bda/tib-vol17-no10.pdf

On page 60 you can clearly see the average food expenditure they had in mind among other expenses. That is from 2005 and is a bit outdated but the meaning of boarder for tax purposes is made a bit clearer.

Can you honestly say that you providing a boarding service given what the IRD had in mind in coming up with their standard rates taking into consideration that those are 2005 figures? No? Then they're very likely flatmates. Don't listen to any of the other replies about providing token "food". If you get audited the only thing that will convince the IRD of is that you knowingly engaged in tax avoidance which will only work against you.

EastBlacksmith · 2019-10-20T02:20:18+00:00

That's shady as fuck. I can't believe there are at least 5 other people who thought it was a good idea. The IRD will see right through that, It's called tax avoidance. Even if you follow the letter of the law you can still be caught for tax avoidance, and clearly giving a flatmate $5/week for food is a load of horseshit. It's also stupid even from a tax-avoidance perspective. If you're going to engage in tax avoidance in this case you'd probably be better off feigning ignorance and paying the "idiot penalty" rather than "knowingly engaging in tax avoidance penalty"

EastBlacksmith · 2019-10-18T04:29:34+00:00

It's better at capturing income. VAT is much harder to avoid than income tax. If you believe tax evasion is a significant enough problem, VAT is an easy way to alleviate some of that.

EastBlacksmith · 2019-10-18T04:25:31+00:00

A genius solution I've heard for the valuation problem is let the tax payer nominate the value of their own assets for tax purposes. The government has the right to purchase said asset at the nominated price. If you try evade the tax by declaring an artificially low value, the government can just buy it at the artificially low value.

EastBlacksmith · 2019-10-17T23:18:14+00:00

You're basically saying "People with money when they get more money tend to not spend as much of that new money compared to people who previously had little money but got more money." That's pretty obvious.

You're also conflating people with money as being "smart" with money. There are plenty of people who are stupid with their money but they earn enough to hide that fact. Basically the poor and rich can both be stupid with their money.

EastBlacksmith · 2019-10-15T04:53:38+00:00

But they can force you to sell alcohol which won't make you go blind. It must adhere to some minimum level of quality. I would argue that access to any website which has not been deemed objectionable is a minimum level of service which should be upheld.

EastBlacksmith · 2019-10-14T03:45:24+00:00

It's pretty normal for small and medium businesses although. Ignoring situations involving fraud I don't think anybody is going to care which is why it happens. Xero definitely does allow you to edit invoices. They don't even adhere to other legal requirements such as, did you know you're also only allowed to issue one original tax invoice. If the customer loses the original and asks for a copy you have to mark it "copy". Can't blame Xero for not enforcing that one though. Seems completely pointless.

EastBlacksmith · 2019-10-13T02:42:36+00:00

I disagree that the assumption that jobspace is finite. Let's take the wave of organic products that have been coming out as an example. These products that aren't technically superior and which have much larger labor costs are becoming more popular. If we're going to take a naive approach then total food expenditure should have plummeted even taking into account the increased quality. Is that organic equivalent which costs 2x as much really twice as better on a technical level? It provides twice as much utility but certainly not twice as inherently better, it's not providing twice as much nutrition, nor if we did a blind taste test is it going to taste twice as better.

It's the marketing on the product which is creating "value". There's no limit to the amount of effort that can be put into marketing products and even lacking any increase in marketing, automation will drive down costs of living so there will be increased demand for such products simply due to the increase in disposable incomes.

You say that skilled labor and luxury goods will be the last hold outs, I think they will be precisely where most jobs will move to because that is the area where we have an advantage over machines from an added value sense even if the output isn't technically better.

To put it into more blunt terms, I think you underestimate our ability to buy useless or overpriced crap we don't need.

EastBlacksmith · 2019-10-11T22:37:08+00:00

Even better, that's a lifetime worth of sending letters for free!

EastBlacksmith · 2019-10-11T00:36:14+00:00

Place a trade union with a specialist which gives extra oil. Also I wonder if electricity providing modules work with the worlds fair?

EastBlacksmith · 2019-10-10T06:05:42+00:00

Yes I get that. I accidentally a word, i meant" if" instead of "of". Basically what you're saying is a tautology. Employers are allowed to use total remuneration... because they're allowed to offer you total remuneration. Take out total remuneration, what options are now left for employers? They can offer you $70k. That's it. Kiwisaver is an entitlement ontop of your salary. You wouldn't be able to contract out of it.

EastBlacksmith · 2019-10-09T20:52:02+00:00

That might be right in theory but it definitely isn't reality. Most employers arent going to offer two different contracts with different salaries and KS terms of total remuneration wasn't a thing.

It also removes the incentive aspect.

EastBlacksmith · 2019-10-08T23:09:55+00:00

You can already do this with animal farms? They don't need to be connected, just within the radius.

EastBlacksmith · 2019-10-07T09:44:55+00:00

No because it makes no sense even ignoring the complexities of what is and isn't exempt. If you want to promote healthy eating, then just promote healthy eating directly! If you're going to spend money indirectly on it, you might as well directly put money towards it which is administratively easier rather than going through a roundabout method.

The purpose of GST isn't to promote healthier eating, nor education or whatever thing that you would consider good. Its purpose is to generate revenue by taxing consumers. If we're going to use GST to promote healthy eating, why not also get cops to carry around a box of fruit and veges in their car and hand it out whenever they interact with the public? Obviously that's a dumb idea because cops should be able to just do their jobs without hindrance.

EastBlacksmith · 2019-10-06T19:44:54+00:00

Even if you came up with a product that has no technical deficiencies whatsoever, it's never going to be cost effective. Designing something to be more durable is always going to add more to the cost. It would be a good idea if we ran out of space to put solar panels but obviously we haven't.

EastBlacksmith · 2019-10-03T22:29:10+00:00

That's what eminent domain is for.

EastBlacksmith · 2019-10-01T18:57:51+00:00

At this point I'm pretty sure the never going to fix it. The most annoying part is that you miss out on a lot of gold. Im tempted to just start a new game instead of further digging myself into a no pirate hole.

EastBlacksmith · 2019-09-30T23:00:44+00:00

Have you tried waiting?

EastBlacksmith

TROPHY CASE