Irish Taxi Forum
Public Area => Taxi Talk => Topic started by: The Liffey Lip on September 28, 2017, 09:19:14 am
-
AIB gets a 20 yr stay on paying any tax here and it is 70% state owned. I need John M to explain the logic to me. How the fuck does this get to happen? How does revenue countenance this? John, will you log on and calm me down please. I'm starting to agree with Mary-Lou in her description of Leo's elitist republic of opportunities.
-
Maybe sell the remaining shares for more money?Erm will know.Maybe.
-
I suspect there's an element of shit stirring in the CEOs 20 year estimate. All businesses can offset historic losses against future profits, we've probably all done it ourselves in the not too distant past. However, there is a new levy on banks that it'll have to pay.
-
Ah, but as Mary-Lou told Leo...the small people seem to be the ones you crucify...how many sole-traders forced the IMF and ECB's hand?
-
That's another issue. Similarly, one could question why a tiny little backward country intent on continuing the boom/bust cycle needs so many banks, surely bailing one out would have sufficed. There was a provision to prevent banks carrying forward losses but it was reversed and replaced with a levy. Sole traders, like ourselves, who carried forward losses weren't subject to any levy. In fact, we got an additional tax credit in respect of earned income.
-
That's another issue. Similarly, one could question why a tiny little backward country intent on continuing the boom/bust cycle needs so many banks, surely bailing one out would have sufficed. There was a provision to prevent banks carrying forward losses but it was reversed and replaced with a levy. Sole traders, like ourselves, who carried forward losses weren't subject to any levy. In fact, we got an additional tax credit in respect of earned income.
And there we have it....
-
Nothing to do with tax, though. More to do with Paddy being too stubborn (or too thick) to learn from past mistakes... maybe a product of assuming that a man who was handy with a hurley stick will be good at governing a nation?
-
The tax thingy is secondary...I'm all about us being thick cunts.. We send the infantryman to jail for firing the shot while the officer puffs away on his pipe shaking his head in condemnation at him having carried out his instruction to the letter.
-
Indeed. Perhaps taxation on banks' profits was a poor example. As far a s agreeing with the shiners economic theories goes, your probably not the first (presumably) non member to do so.
-
Got cut off there...nah what I meant was he tax thingy and AIB striking a deal with Hall from the mortgage holders crowd..same day release...might not be seen as a wolf in sheep's clothing with the distraction...up to me eyes here with my nephew asking me to play Tour of Duty..
-
After AIB sold off their worthless or non performing loans to NAMA at a huge discount they showed a loss on the disposal of those assets .Those losses were recorded on their books and offset against future profits until those losses were covered .Noonan changed the law to allow banks carry forward losses accrued in any year against future profits .
It was never intended that any Bank would be forced to offload any assets to NAMA for a loss so the difference between what the banks valued the pre boom assetts and what they actually got for them will be made up by the state in the form of tax credits .Bank shares will recover so pension funds will see a return and Father Thomas Breslin and Schoolmam Deborah Kinsella who held shares in their pension funds will once again believe in the system and encourage their Children and their Childrens children to invest money in a pension fund .
-
I don't really see why a distraction would be considered desirable, Hippo. The levy dictates that banks are getting a worse deal than anyone else as far as carrying forward losses goes. Maybe the PAYE sector wouldn't fully appreciate that but, even so, as you note the state holds considerable equity in the banking sector so, to that extent, levies/corpoation tax only serve to move money from one hand to the other.
-
.Noonan changed the law to allow banks carry forward losses accrued in any year against future profits .
He changed it back to what it always was by removing a then new provision preventing banks from carrying forward losses. He then introduced a new levy.
-
I don't really see why a distraction would be considered desirable, Hippo. The levy dictates that banks are getting a worse deal than anyone else as far as carrying forward losses goes. Maybe the PAYE sector wouldn't fully appreciate that but, even so, as you note the state holds considerable equity in the banking sector so, to that extent, levies/corpoation tax only serve to move money from one hand to the other.
As part of the Money go Round Rodent a new bank levy is introduced as Mickie Noo knows the government have to get a few coppers from somewhere to buy votes .The Middle classe will see their house prices and their pensions increase in Value .Nobody gives a shit about the Dole or homeless they dont vote and if the do the vote for wasters like SF or Profit From The People so the bit of Brass they get from the banks will go to the pensioners who spent their lives voting for cunts who destroyed the place in the first place and will continue to vote for them if they get a fiver increase in the Old Age Pension .Its really very simple .The Lunatics are back in control of the asylum and the banks and big business are running the country .
Profit from the People and SF think the won the Water Charges debate .Olivia DeLa Rue over in Foxrock will now not pay water charges but .Fran,His bird and his three Unemployed Kids wont get any increae on the Dole because the government have to pick up the water bill it wont pay itself .So they might of gotten an extra 3 YoYo a week of an increase if we all paid for water but they didint because we don So Franks family are subsidising Olivias water to the tune of 780 yo yo a year .SOCIALISM you got to love how it works its where the poor subsidise the rich but think they are the winners .
-
Socialism is starved of resources, Capitalism is devoid of common sense.
-
Socialism is starved of resources, Capitalism is devoid of common sense.
Taxidriving combines both .No money no sense most of us operate in a Utopian configuration of blissful indifference .
-
You'll live longer that way Erm.
-
I don't really see why a distraction would be considered desirable, Hippo. The levy dictates that banks are getting a worse deal than anyone else as far as carrying forward losses goes. Maybe the PAYE sector wouldn't fully appreciate that but, even so, as you note the state holds considerable equity in the banking sector so, to that extent, levies/corpoation tax only serve to move money from one hand to the other.
Another kick in the bollox for those foolish enough to maintain payments to said bank regarding mortgage debt...people can't deal with bad news on top of being shafted...Sir Humphrey etc.
-
Have ya ever had a mortgage Ll?it's actually really difficult to get a free gaff or debt written off from the banks.Ya have to go unemployed for a few years and qualify for social housing under the new scheme.Better to pay the mortgage.Strategic defaulting is tougher than it sounds.Otherwise all of us would try it.
-
Plenty have it seems and successfully so, Mercenary and I have a mortgage...David Hall has well over a thousand customers since it first crossed his mind. It would appear the fools are the ones who continue to shake their heads in disbelief at what is before them.
-
I had him in the car one day he genuinely believes in what he's doing.There's always a few chancers gonna try to get something for free.I'd prefer to sleep at night though.
-
On topic...AIB bosses 3-0 Honest folks.
-
There are people living in their gaffs for years now...free of charge,have made no effort to pay....and now will get the choice to stay in their preferred location,pay rent at social housing level and have the option to buy the gaff from iCare at the price they bought it from the bank.....meanwhile me and me missus will contine to pay...for the privilege!!
-
Socialism is starved of resources, Capitalism is devoid of common sense.
Taxidriving combines both .No money no sense most of us operate in a Utopian configuration of blissful indifference .
Leo's getting to you...
-
There are people living in their gaffs for years now...free of charge,have made no effort to pay....and now will get the choice to stay in their preferred location,pay rent at social housing level and have the option to buy the gaff from iCare at the price they bought it from the bank.....meanwhile me and me missus will contine to pay...for the privilege!!
Correct and true for you. You see I brought up the tax deal the AIB have with revenue to highlight how they drop clangers hidden behind A-Bombs. Anyway, shallow, as Mercenary said...you'll sleep better than the chancers at night.
-
FFS simple supply and demand .Restrict the supply .How ?make sure that you dont throw out the residents in situ or those thousands of houses will become available for sale and satisfy demand forcing down the price of houses and encouraging more people not to pay if they are in negative equity . The state will then have to pick up the tab Remember the lad who use to be purchasing the house is now the tenant and his rent can be increased with inflation unlike his mortgage which will decrease as he pays it off .David Hall represents big money investors who are buying your gaff out from under you for what you owe the banks .They are getting your equity for nothing with a promise of allowing you buy out the remainder of the loan at a future date ..Its just Dollar juggeling where the banks can get rid of bad home loans and make off like bandits while looking like they care .
If you have the money to buy a house but the banks are fiddiling the market to drive up house prices which increase their book of assets increase their share price Now they can borrow more money on the markets against their assetts and then they can afford to lend you more to buy your more expensive home .
The end game return to the Past but it wont be Local authorities who build huge rental estates it will be Arab or Chino Sovreign Wealth Funds .Workers wont be able to afford to buy a home and that is what the banks and government want .They want disposable income to be spent on perishable consumer goods not 40% of your lifetime earnings invested in a home .CONSUMERISM is the future FRIVOLOUS SQUANDERING not asset accumulation by the proletariat .
-
Well said John...Shopping Malls are the new Cathedrals...
-
On topic...AIB bosses 3-0 Honest folks.
Oh come now, 3-2 at least. Many small businessmen have carried forward losses sustained during the recession without paying any levy.
-
On topic...AIB bosses 3-0 Honest folks.
Oh come now, 3-2 at least. Many small businessmen have carried forward losses sustained during the recession without paying any levy.
"Can this be set off on an aggregate basis",,,asked the big farmer of Tom Parlon.
-
Anyway, shallow, as Mercenary said...you'll sleep better than the chancers at night.
Don't know Lip....tbh i don't think too much about it...at the moment i'm concerned about the big words ermy is using!!
-
If you have the money to buy a house but the banks are fiddiling the market to drive up house prices which increase their book of assets increase their share price Now they can borrow more money on the markets against their assetts and then they can afford to lend you more to buy your more expensive home .
... and the State (aka us) gets a better / less worser return when it liquidates it's equity.
-
"Can this be set off on an aggregate basis",,,asked the big farmer of Tom Parlon.
Losses can be carried forward against income from the same trade or offset against income from other sources in the year the loss is incurred hence the provisions are reasonably flexible.
-
Think about it Bank loan you 100k @ 3.5 % .they are getting 3500 on it but if they can keep that 100K in circulation and we are all using card payments going into overdraft every now and then and paying bank fees they could be turning over 100%+PA on it .So higher return for less risk and they can use their own cash without borrowing on international markets .Banks going back to what they originally did charge you to use your own money in the belief that it is their money .You get your money paid by Mytaxi into your account then you pay off your bills with your money withdraw your money from the banks machines becasuse they have no over the counter service then at the end of the quarter they inform you of how much of your money you owe them for using your own money ..What fucked up the World Banking system was not enough people turning over cash instead buying one off big purchases .
Look at what happens the world over .If there was an Earthquake in London the World Bank UN everybody would help because Brits have buying Power but if it happens in the Mountains of Nepal who gives a fuck .Catholics use to believe we were put here on earth to reproduce that is wrone People only exist to consume goods the only thingh that exists is commerce the power to buy and sell if you have nothing to sell or no money to buy then fuck you .
-
Fuck economics and laws of commerce. An illiterate man once told me...never invest money in anything that eats or needs repainting. I was too busy reading "Economics for Dummies" to listen.
-
Less folk having nothing equates to more consumers, a necessity for consumerism to thrive... if only it were that simple!
-
Economics for dummies?
If you can't afford it....don't buy it.
-
Economics for dummies?
If you can't afford it....don't buy it.
No that's not economics...that's common sense..anyway...the banks didn't care you couldn't afford it...they told you you could. Compound interest is magic they say.
-
Maybe grown ups should know what they can and can't afford. The friendly building society manager told me I could borrow twice as much as I wanted.... on foot of nothing more than a chit signed by a taxi union boss. It's a crazy rock and roll wordeld so it is.
-
If you have the money to buy a house but the banks are fiddiling the market to drive up house prices which increase their book of assets increase their share price Now they can borrow more money on the markets against their assetts and then they can afford to lend you more to buy your more expensive home .
... and the State (aka us) gets a better / less worser return when it liquidates it's equity.
A Win /Win for everybody looked at through the prysim allocated to us for looking as such things .Tommo down the Pub working for minimum coin left the gaff when the Ma and Pa dropped telling anybody that will listen how much his gaff has gone up since the funeral a few years ago without realizing that the Property Tax is value linked .I think the SOCIALISTS imposed a maximum payment of 4K per annum payable in House Hold Charge .Inflation and our kids will be paying that on a 3 bed semi detached in Ballyer and the Foxrock set will be pissing themselves laughing AGAIN
-
So PTSB have joined the fray with not paying tax for 21yrs
Apparantly the accounting priciple is something they are obliged to comply with....of course it is cos it works in their favour!!
-
Could be the children of the Foxrock set buying the gaffs in Ballyer... Look, if O'Leary manipulated share prices for his and/or his shareholders' benefit Hippo would be telling us what a clever fellow he is... Govt do it and he's getting his knickers in a twist.
-
So PTSB have joined the fray with not paying tax for 21yrs
Apparantly the accounting priciple is something they are obliged to comply with....of course it is cos it works in their favour!!
One does have to claim loss relief... but it'd be silly not to... as it's auditors would no doubt report.
-
Economics for dummies?
If you can't afford it....don't buy it.
Not quite right .Economics is the application of theory any theory that fits the criteria required to allow you take a chance with the possibility of success possibly or possibly not depending on the result you seek .
EG .Dreadlock Spudhead TD wants to legalize drugs because its a good vibe and canaboids relieve pain .FG minister for more Misery and Medicine objectsas the Drugs Dont Work .Dreadlockspud Head TD organises a march through Neilstown gets covered by RTE .Economist from the Department of Money prepares a document that finds that costly pain killing medicines are under perscribed in areas with high drug use and draws the conclusion that the use of canabis saves money on prescribed drugs .Now the Economics of Cannabis comes into play .Do the government legalise it for medical use ?NO .Why if its for medical use it will be manufactured ny big Pharma and cost a fortune so The Economic logic is have lots of Discussions on TV with both sides putting forward their case .In reality what they aredoing is advertising the availability of canabis which you can buy on the streets out of your own money cheaply instead of hounding the doctor for an expensive prescription for pain killers .
-
I was being facetious...but carry on with the lecture!!
We were down in Tipperary with the outlaws back in August,the missus had told her brother that i (Hal) don't borrow for anything..i'll save till we can afford it...he couldn't get over this.
-
Hal look at all the homeless who didnt borrow enough .The big developers who borrowed billions are still in business .
-
Funny enough I know a few motorcycle couriers turned taxi drivers who are like that. One such bloke I know wouldn't even use a bank when he started taxi driving. I remember him taking out a mortgage through a broker and asking me if I thought the broker would notice that he's short 800 notes for the deposit... turned out that his interpretation of the broker asking to see evidence of his deposit was to stuff the used notes into a Dunnes Stores bag and bring it in to the office!
-
Hal look at all the homeless who didnt borrow enough .The big developers who borrowed billions are still in business .
The majority of homeless people never borrowed and those normals that did borrow and possibly maybe could afford to pay at the time were fed to the vulture funds.
-
Funny enough I know a few motorcycle couriers turned taxi drivers who are like that.
Maybe that's where it stems from!!
I'd say there's more dodgy P60's floating around lending institutions than there is politicians around Dail Eireann!!
-
Could be the children of the Foxrock set buying the gaffs in Ballyer... Look, if O'Leary manipulated share prices for his and/or his shareholders' benefit Hippo would be telling us what a clever fellow he is... Govt do it and he's getting his knickers in a twist.
:-X :-X Misfortunes to ourselves are always good fortune to others, and I'm not a Mick Ryanair fan either...today's peacock is tomorrow's featherduster as Monica said to Bill, on bended knee. and, as previously stated, Hippo is living with Jimmy Hoffa in Honduras waiting for Godot.
-
I was thinking there may be some connection. I know couriers could earn relatively good money back in the 90s (probably still can) but it was up to them to go out an earn it, maybe it just got in their heads that you need money to buy stuff and you need to work to get money...
Back in the good old days the banks worked with the paper never refused ink maxim, they never wanted to see anything that might contradict whatever chit the victim had - in my case a piece of paper signed by a union boss. Aaah things were much simpler then... getting back to the bloke with the bag of cash, it just so happened that the broker was friendly with a bank manager who solved his "problem" by creating some paperwork that made it appear that he was a regular saver with said institution!
-
So PTSB have joined the fray with not paying tax for 21yrs
Apparantly the accounting priciple is something they are obliged to comply with....of course it is cos it works in their favour!!
There's a new banking disorder now?...post-traumatic stressful banking?
-
I don't think PTSB got much from NAMA, certainly not as much as AIB or BOI so it's carrying forward losses might not be as objectionable?
-
I was thinking there may be some connection. I know couriers could earn relatively good money back in the 90s (probably still can) but it was up to them to go out an earn it, maybe it just got in their heads that you need money to buy stuff and you need to work to get money...
When i finished my apprenticeship in 84/85 there was fukall jobs really but my brothers best mate was a courier for Pony Express,the thought of driving my motorbike and getting paid to do it really appealed,didn't know my arse from my elbow getying around Dublin apart from getting the 19 or the 34 bus into town of a Satharday....but i learned quickly doin all the out of town/southside chit that the real couriers didn't want to be doin...and at 19/20 yrs of age i was making quite a few bob...and all cash!!
-
Credit cards and apps can fuck a guy up.
-
Unsecured debt is relatively painless, mortgages are what's killing folk.
-
Do you remember the default response from our gang of arseholes when their incompetency was brought under the spotlight - "this was a worldwide problem." In other words, the elite paying themselves billions and not having a fucking clue what they're doing is standard practise throughout the world. Swallowed hook, line by the peasants without a whimper. "Look, we are where we are"/"People went mad borrowing"/"We all partied" - i.e., Its your own fucking fault for believing we had a fucking clue what we were doing.
-
Credit cards and apps can fuck a guy up.
Like gargle.....used in moderation!!
-
Do you remember the default response from our gang of arseholes when their incompetency was brought under the spotlight - "this was a worldwide problem." In other words, the elite paying themselves billions and not having a fucking clue what they're doing is standard practise throughout the world. Swallowed hook, line by the peasants without a whimper. "Look, we are where we are"/"People went mad borrowing"/"We all partied" - i.e., Its your own fucking fault for believing we had a fucking clue what we were doing.
... and if we had the chance to do it all again, tell me would we?
Say what ya like about the Paddies but we'll never learn from our mistakes.
-
We've short memories for sure....how much is a gaff in Dublin again.....maybe Leitrim will get it's chance this time around.
-
I don't think PTSB got much from NAMA, certainly not as much as AIB or BOI so it's carrying forward losses might not be as objectionable?
The cnuts sold my pension loans to a VF for a discount of 30% +. The VF are offering me a discount of 6% to clear. Woulda had a lot more options if they had offered me the 30%+ discount.
-
I don't think PTSB got much from NAMA, certainly not as much as AIB or BOI so it's carrying forward losses might not be as objectionable?
The cnuts sold my pension loans to a VF for a discount of 30% +. The VF are offering me a discount of 6% to clear. Woulda had a lot more options if they had offered me the 30%+ discount.
Banks and VF don't do direct write offs for the little man...no mercy!!
-
Could be a lesson for the next bust. Don't see why they couldn't have provisions requiring banks to offer account holders similar terms to VFs, perhaps subject to a small admin fee. We are pretty committed to boom/bust economics, in fact we even require banks to contribute to a bailout fund nowadays. If we put our minds to it we could become the most efficient country in the world at orchestrating economic crises.
-
Why are yez all so anti-Mick Ryanair? I don't recall him conning the taxpayer into bailing him out.
-
Because he's bringing in the foreigners to take our Jobs and then our welfare money....probably.
-
I don't think people are anti-Mick but if you were his father you wouldn't be proud of the crude, vulgar little man that he is. For my own part, I'm happy to use his cheap and nasty airline service, putting the underlying exploitation to the back of my mind while I concentrate on price. It's one of those things, a lot of folk are happy with what he provides but very few would be proud to be in his shoes.
-
Well, with Saudi women being allowed drive now and all that, he's brought out a new jammer in conjunction with Mercedes...smart cookie.
-
He's a Bilderbergin' cunt.
That's why I don't like him.