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[Paphitis]

Obviously I wasted my time becoming an accountant !!
I wasn't aware that you can classify a debt as an expense I thought a debt was a liability!!

Milti, I think you wasted your years a s an accountant.

I agree with Paphiti, getting the Capital structure right Debt to Asset increase your returns and yes you can use mortgage payments as a tax write off.

Even it you have money, you need to have debt so to free up more money for more investments.

For as long as your debt is serviceable you are doing ok.

Look lets stop these NONSENSE. A debt can not be used an expense either on personal or business tax declarations.
Only the INTEREST on the debt.
Now don't argue for fs.

Yes Coco Moco.

It's the cost of your debt that is tax deductible. What debt allows you to do is unlocking your Capital Assets to buy more assets or to engage in business activities like buying land, or developing. Without the debt, you would have to sell assets and that isn't good.

The key is making sure you can service the debt and my debts are completely serviceable just from my residuals. They are also attributed to various business interests or activities revolving around property and some development as well. A mixture of residential and commercial. My leverage is actually in the low teens.

My accountant wants me to be more aggressive but I don't have the time to do more developments unless I employ someone to look after them. My approach is considered by my accountant to be conservative and low exposure. But that costs me too a lot of tax.

When I retire in a few years, I will be able to do all this as more of a hobby and take on more debts for my kids.

[Paphitis]

I owe 7 figures.

You must obviously be richer than I !!
I owe NOTHING. I must be very ...poor !!

did bafidi mean own or owe? does he know the difference?

Yep I know the difference.

Borrowing is actually a good thing as long as you are serviceable and as long as you invest this money on good assets that generate income and increase in value.

[Paphitis]

Obviously I wasted my time becoming an accountant !!
I wasn't aware that you can classify a debt as an expense I thought a debt was a liability!!

Milti, I think you wasted your years a s an accountant.

I agree with Paphiti, getting the Capital structure right Debt to Asset increase your returns and yes you can use mortgage payments as a tax write off.

Even it you have money, you need to have debt so to free up more money for more investments.

For as long as your debt is serviceable you are doing ok.

Look lets stop these NONSENSE. A debt can not be used an expense either on personal or business tax declarations.
Only the INTEREST on the debt.
Now don't argue for fs.

Not only that but getting into debt to "invest" in the stock markets may one day end him up with just..... DEBT

I don't have a lot in the Stock Markets. I only have my super in the markets and another small amount of my own personal funds and they are all locked away under a trust. I have not lots any many. I have not borrowed for any of it. It's not worth it because these investments are in a very low tax environment under Australian Superannuation Legislation. In fact I put money into these trusts from my own money each year to save tax. I only pay 15% instead of 45%.

About 95% of my money is in property. Family has been doing this since thew 1950s in Australia. What we have is a number of Rental Properties, a Farm which is leased, and some commercial properties all earning rent on long term leases.
'
I keep borrowing now to either buy other property or buy corner blocks and subdivide and develop. And all the holdings are in Trust companies. So if one goes bankrupt, I am protected.

[Paphitis]

Paphitis is full of shit. To have stated that he has debts in 7 figure numbers ie. Over one MILLION and to have said " all of my debt is tax deductible " proves that he is a fucking liar and a pretentious arsehole. A debt isn't a PL entry but a Balance sheet one. Only the interest can by classed as a Profit and Loss entry.
He is talking shit as always.

What the fuck is a PL.

All my debts are debts to Trust Companies which own income earning assets for my family.

I don't have a home loan as I own my home, and I don't have a car loan, or any other personal loans. I only have a couple of Lines of Credit and an Equity Loan which are utilized to buy property. All that is tax deductible against the incomes these assets generate and also against my own income. In Australia, they are tax deductible.

I won most of my assets too. All the debt is hived off into 2 trusts against those properties in those trusts. If they show a loss, then those losses are distributed to me which means I can claim from my income tax. The problem is the other trust show a profit. This forces me to shed my maximum allowable contribution per year to my Super so I only pay 15% in tax. This saves me about another 10K in tax per year, and yeh all that money goes into Australian and International Stocks, but I am already ahead by 10K from day 1. I have a good accountant!

As an Australian Patriot, I am helping the country in becoming self funded on my own 2 feet! I should have an Australian Order from the Crown.

All my debt is classed at good debt.

[Paphitis]

Paphitis is full of shit. To have stated that he has debts in 7 figure numbers ie. Over one MILLION and to have said " all of my debt is tax deductible " proves that he is a fucking liar and a pretentious arsehole. A debt isn't a PL entry but a Balance sheet one. Only the interest can by classed as a Profit and Loss entry.
He is talking shit as always.

Look, if you are doing it tough, I can spot you a couple of a K so you don't go short.

You see, I am a humanitarian too.

[Paphitis]

anyway so has this brexshit lark affected thomas cook travel company.
has the drop in the sterling had any bearing on its collapse?

I’m beginning to wonder if Milti’s taken over writing your posts. No, that can’t be, he can do English.

How do you arrange your holidays these days? Go to a travel agent? More likely the same way as me I suspect. Tap, tap, tap. Get it?

That technological change, coupled to the fact they undertook what turned out to be a disastrous merger with MyTravel, saddling them with a huge debt that ultimately they couldn’t service, precipitated their demise. Now they’re in the hereafter, with the likes of Woolworths, HMV and BHS, having suffered the same fate.

what was your school reports like? I bet it said must do some work and could do better if he paid any attention in sterling.

did i ask what caused it? i simple the asked has it had any bearing on it?you can't even answer a simple question like that without going to some verbal diarrhea ffs boy. pay attention boy

If I were you, in your position, I’d be very wary of making derogatory comments about other people’s school reports. You just made 9 mistakes in 6 sentences. About par.

2 out of 10. Must try harder. “Boy”.

I tend to treat people the way they treat me.

[Paphitis]

so if you do something unlawful what should the punishment be? tower i reckon from airport straight to the tower.

has manchild made any comments

My ....very reliable source informs me that Boris , currently in the USA is doing the ...circus runs looking for a job
. Apparently a guy with a ....bucket on his head is driving him around, blind leading the blind comes to mind !!

Hey Coco, he will need a reference from you.

has he asked you yet?

[Paphitis]

Tell me something ...bucket man.
Your co-Btexeteers think that your debts , mortgage included, can be set off against your taxes. Do you share their view?

I don't have a mortgage.

I've never had one of those in my life.

When my wife wanted to put a deposit on a house together (and I only live in leafy suburbs) my old man smiled at her and said that a deposit of 100% will do. I own my house mate freehold.

It was an old run down house in the best street and I did a lot of work on it too with my old man.

When my kids put I deposit on a house I will smile at them too.

Ftou ftou ta mortgages reh Yero! Mortgage is a dirty word! Sounds like hard work mate.

As my old man use to say: Mortgage no good bedi mou! To spitaki diko sou ohi tis trabezas!

As soon as my old man landed in Sydney in 1955, he started off in business right away. Started off small as a Pastry Chef and went on from there.

You know what my old man told my wife? he told her to use your deposits and buy that other house for sale down the street and rent it out. He always gave freely for his kids, but he always taught us valuable lessons and to not be lazy. He was pretty smart for a guy that dropped out of school.

So at the same time he taught us to be smart with our money and we still ended up borrowing but we ended up borrowing smart. The handout came but the handout was never free. he saw it as his Patriarchal duty to provide but he also saw it as our duty to do the same for our kids.

[Paphitis]

so if you do something unlawful what should the punishment be? tower i reckon from airport straight to the tower.

has manchild made any comments yeti?

anybody visiting tekke hala sultan. can you pick some salt for me please. they are desperate.

Well, if the Justices can point to the article in the law that says what is and what isn't 'lawful' then a real judgement can be made.

Something can only be 'Unlawful' if it goes against the statute, and this is where the Justices will rule. A decision taken by the PM for an action can usually, within the realms of the laid down laws, be incorrect, error of judgement and so on.

To claim unlawfulness is total bollocks and just plays in the hands of the remoaners.

Personally, I think the whole court thing, whether high court or supreme court is unlawful in itself in passing a judgement on the workings of parliament. So in future, then next time the Government/Parliament pass tax laws or laws we don't like, all we need to do is to take it to the courts and have it out there. Therefore all thos 600+ MPs might just as well fuck off home as we don't need them anymore!!!

You are exactly right.

This judgement is a very dangerous precedence.

What this means is that the UK has no Government now. There is a Coup with the Speaker holding power of the Parliamentary agenda.

And we also have the unusual situation where it is the Labor MPs who are propping up the Boris Government because they are scared to consult the people.

So they are happy to call for Boris to resign but they will not hold a no confidence vote which they have the numbers to do.

It all points towards a loseble position for the remoaners. This is their last ditch attempt and they don't know how the can avoid BREXIT.

They are trying to force BORIS to ask for an extension. Boris refuses to do that. Even if he did, it is likely Hungary, Poland or some other country could veto.

If the have a no confidence vote, Corbynated Chicken has to come forward as the alternative PM. If that happens, and he cancels BREXIT against his own Parties wishes, the Labor Party is finished. If he withdraws Article 50, Labor, and the Lib Democrats are gonnas.

So basically, its a shambles and the remoaners are clasping at straws right now.

[Paphitis]

You two are as thick as two ...buckets !!
Our judicial system is independent of the government, our legal system is perhaps the finest in the world.
Now bucket man , what do you say, Brexit on 31st October ??

Finest in the world my arse! When the outcome suits you obviously...

As for Brexit on the 31st, I'd say it was three years too late!

This is what I think about CG.

He is ex military.
He was a high rank officer and he was hated by regular servicemen/women.
He is elderly.
He has a few quid and a good pension.
He has no grandchildren.
He doesn't give a fuck about future generations.
He is racist.
He has no hobbies and no friends.
He will die a very lonely man.

hahaha! Keep stereotyping the overall majority of the people in favour of BREXIT in the biggest vote in modern British History.

This is playing right into BREXIT hands. Long may it continue.

You boys and girls are in for a very rude awakening.