Occupy Dunedin?

[jazfender]

Relevant:



Mods maybe merge occupy threads?

[Winston001]

I contract to a company that runs at a lose here, because of such it gets rebates on tax and GST.
It sells its products at a low cost to its parent company in Aussie that then sells it for its true cost and makes a profit, but then because it props up the original company it gets that tax breaks in Aussie.

Ok I believe you and such things happen. Nevertheless its tax evasion under the Inland Revenue Act 2006 plus various international tax treaties.

Of course, maybe they genuinely make a loss and move it to the jurisdiction of best tax advantage. That's valid and lawful.

[avgas]

Dunno. Depends on if you want to borrow more $$$ or not, or find investments with higher returns. Nope, but that's the only way it's gonna work.
Yes and No... have a chat with the central bank and have them do their fractional banking thang with their freshly plucked out of thin air money and if the global market doesn't blink, there'll be no sacrifice.

Your kinda missing where I was going.
There is also the "entrepreneurial effect" - note this does not just apply to entrepreneurs....but more people thinking outside the box.

3 companies this year in NZ have done very well for themselves by effectively recycling shit.
Likewise my Singaporean overlords are doing very well by acquiring the NZ firm I work for. Yet no money goes their direction (its reinvested here). Simple reason was when they bought us - they look bigger and better and viola! more people wanted to invest in them or give them more projects....etc

Some globals in NZ run a very thin profit margin. Why? Well they are seen to be:
- Innovative out of NZ
- Green (aka free marketing)
- Global
- Bigger
- Stronger
- More stable

So NZ does pretty well. While they screw Africa or India.

[mashman]

Relevant:



Mods maybe merge occupy threads?

I laughed, I cried, I laughed much much more... fuckin brilliant and maybe, just maybe, he has a point... excellent find man

[mashman]

Your kinda missing where I was going.
There is also the "entrepreneurial effect" - note this does not just apply to entrepreneurs....but more people thinking outside the box.

3 companies this year in NZ have done very well for themselves by effectively recycling shit.
Likewise my Singaporean overlords are doing very well by acquiring the NZ firm I work for. Yet no money goes their direction (its reinvested here). Simple reason was when they bought us - they look bigger and better and viola! more people wanted to invest in them or give them more projects....etc

Some globals in NZ run a very thin profit margin. Why? Well they are seen to be:
- Innovative out of NZ
- Green (aka free marketing)
- Global
- Bigger
- Stronger
- More stable

I learn something new every day... cheers.

So NZ does pretty well. While they screw Africa or India.

[BoristheBiter]

In the current financial system a bank provides many needs for many people, whoopdeedoo. I don't believe the financial system serves any positive purpose for human beings movings forwards in regards to allowing them to address the issues that plague every country day in and day out...

See i think this is where the "hate the big bank" shit falls down. If you don't want to use them don't. if you don't want to borrow money don't. If you don't want a credit line then don't.

It IS that simple.

The problem is now so many people have got used to living in the "buy now, pay later" system that they can't function without it, or they don't know how to use it to their own advantage.

Not the fault of the bank, all they did was give you enough rope.

[Oscar]

See i think this is where the "hate the big bank" shit falls down. If you don't want to use them don't. if you don't want to borrow money don't. If you don't want a credit line then don't.

It IS that simple.

The problem is now so many people have got used to living in the "buy now, pay later" system that they can't function without it, or they don't know how to use it to their own advantage.

Not the fault of the bank, all they did was give you enough rope.

Well said.
Another example of the new society that has no personal responsibility.

[Oscar]

Ok I believe you and such things happen. Nevertheless its tax evasion under the Inland Revenue Act 2006 plus various international tax treaties.

Of course, maybe they genuinely make a loss and move it to the jurisdiction of best tax advantage. That's valid and lawful.

"..move it to the jurisdiction of best tax advantage.."

That is tax evasion under NZ law.

[Ocean1]

"..move it to the jurisdiction of best tax advantage.."

That is tax evasion under NZ law.

I'd hesitate to say the oportunity to participate in such shuffling is the primary reason Aussie multinationals invest in NZ business. But not for very long.

I used to work for a huge UK multinational. Materials for our NZ plant were sourced from all over the planet. One day our NZ operation was realigned to report to Aus, all of a sudden our materials were sourced from Aussie, at prices about twice the Asian equvalent, which reduced our margines to zero. I'm not sure of the finer details of what the various tax advantages were at the time but I had the assurance of the Aussie CFO that that was the reason for the cost structure.

This situation lasted 5 years, with the NZ operation slowly being strangled to allow higher margins across the ditch. When the NZ operation was eventually shut down the Aussie GM even had the stones to blame their 40% reduction in raw materials sales on poor NZ management.

I'm aware of half a dozen other large NZ manufacturers in exactly the same boat now. All report to Sydnee.

[Winston001]

"..move it to the jurisdiction of best tax advantage.."

That is tax evasion under NZ law.

Fair enough I'm no accountant. I'm merely guessing that under CER a genuine loss by a New Zealand factory owned by an Australian company would be allowed by the Australian Tax Office. If the loss occurred in the Netherland Antilles, that would be a different story.

Ocean points to this type of structure too.

No biggie.

[mashman]

See i think this is where the "hate the big bank" shit falls down. If you don't want to use them don't. if you don't want to borrow money don't. If you don't want a credit line then don't.

It IS that simple.

The problem is now so many people have got used to living in the "buy now, pay later" system that they can't function without it, or they don't know how to use it to their own advantage.

Not the fault of the bank, all they did was give you enough rope.

See this is where the don't use it if you don't need it and it won't affect you shit falls down. Pretty much every "problem" that a bank reacts to has an affect on my life. Some banker farts and thinks he's followed through, fuel prices rise and the market goes bananas until he's been to check. Meanwhile fuel prices rising affects the price of just about every essential that I don't get for free... and all because some banker sharted.

It IS that simple... even for those who haven't used credit. Tis felt worse at the bottom of the "pile".

I agree to an extent, but if banks or retailers are foolish enough to offer credit knowing full well that people are going to rack up masses of debt, then it's their own fault when it goes tits, not mine.

That's like saying, it's not the fault of the bar, they just kept serving beer all night even thought they suspected you were gonna drive home.

[Winston001]

See this is where the don't use it if you don't need it and it won't affect you shit falls down. Pretty much every "problem" that a bank reacts to has an affect on my life. Some banker farts and thinks he's followed through, fuel prices rise and the market goes bananas until he's been to check. Meanwhile fuel prices rising affects the price of just about every essential that I don't get for free... and all because some banker sharted.

.

.......yeah.....


No. You lost me there Mash. How could one bank worker (there are millions of them) with a gyppy tummy raise the price of oil? What's his name? Who does he work for?

[mashman]

.......yeah.....


No. You lost me there Mash. How could one bank worker (there are millions of them) with a gyppy tummy raise the price of oil? What's his name? Who does he work for?

Sorry Winston, I could tell you but I'd be breaking a confidence. (was going for a metaphoric twitchy bum analogy)

[jazfender]

NYPD police scanners are saying they have about 33,000 protesters on the ground atm. Blood, arrests, gridlock, yelling etc.

One of the best livestreams for this is Tim Pool - ustream.tv/TheOther99

[Winston001]

What worries me is there are valid issues which the Wall Street protesters are raising. However the issues aren't clearly argued or laid out for the public to understand. In fact its quite likely every protester has a slightly different idea of why they are there.

If the protesters are removed, there is a danger the whole movement will lose its focus and die away. Raging against wealth imbalance and white collar rewards isn't like demonstrating against the Vietnam War or a Springbok Tour. There's no single enemy and no single political party to change things.