You saw an opportunity and you grabbed it - good for you.
But when you first registered Toowoomba.com thousands of other people did much the same by grabbing domain names that would be wanted by commercial entities at a later date and they made a killing.
But that's an opportunistic grab by someone who had some industry knowledge of what would be in demand in the future. It's not quite the same as starting a new domain and making it a commercial success by driving traffic to it and selling a product or a service. You made a capital gain on the domain name.
It's funny that you criticise older Australians who bought a modest dwelling many years ago and now their asset is worth something, and for their blind luck you want them to reverse mortgage their house to fund the pension that they are 100% entitled to but you're too stingy to contribute to as a taxpayer.
But when you're on the receiving end of some blind luck you put it down to business acumen.
Hilarious.
Once again, you are wrong. I did not domain name squat at all. I built a city guide, had real income that started to grow from Real estates etc and eventually APN knocked on my door.
When I registered toowoomba.com (toowoomba.net.au and toowoomba.net) the system was through a University (Prentice) and there was no commercial domain name providers. In fact, I could have taken brisbane.net, sydney.com on that day as well as seven.net.au or even nine.net I did not as I was focused on creating local content. That is what I did and I did pay CGT on the sale of Toowoomba Internet Pty Ltd to APN. Quite a large amount in fact.
You really have no idea Peter as your sole focus seems to be just perfecting your trolling and abuse skills. Carry on.... or get back under your rock.
Once again, you are wrong. I did not domain name squat at all. I built a city guide, had real income that started to grow from Real estates etc and eventually APN knocked on my door.
When I registered toowoomba.com (toowoomba.net.au and toowoomba.net) the system was through a University (Prentice) and there was no commercial domain name providers. In fact, I could have taken brisbane.net, sydney.com on that day as well as seven.net.au or even nine.net I did not as I was focused on creating local content. That is what I did and I did pay CGT on the sale of Toowoomba Internet Pty Ltd to APN. Quite a large amount in fact.
You really have no idea Peter as your sole focus seems to be just perfecting your trolling and abuse skills. Carry on.... or get back under your rock.
So what have we got now?
School teacher, Academic, early Apple employee, app developer, hair dresser/nail tech, financial adviser, trust kid, commercial property owner, Toowoomba guru - what did I leave out? Your story needs more focus pork.
And with a friendly choice of trustee, the amount of that income can be precisely tailored to maximise your Age Pension benefit, in most years, or splash out for that round-the-world cruise, in some year where you feel like being a little spendy.
All of it happening without the capital being counted against your Age Pension eligibility.
Yet you rail against the same treatment for a PPoR.
Hypocrite, thy name is Pauk.
In defence of the hypocrite ... :
"Every man is entitled if he can to order his affairs so as that the tax attaching under the appropriate Acts is less than it otherwise would be. If he succeeds in ordering them so as to secure this result, then, however unappreciative the Commissioners of Inland Revenue or his fellow taxpayers may be of his ingenuity, he cannot be compelled to pay an increased tax." - Thomas Tomlin, Baron Tomlin, in the UK House of Lords case, IRC v. Duke of Westminster (1936), and
"Now of course I am minimising my tax … and if anybody in this country doesn't minimise their tax, they want their heads read." - Kerry Packer, Australian media tycoon, March 25, 2005.
A Professional Demographer to an amateur demographer:"negative natural increase will never outweigh the positive net migration"
School teacher, Academic, early Apple employee, app developer, hair dresser/nail tech, financial adviser, trust kid, commercial property owner, Toowoomba guru - what did I leave out? Your story needs more focus pork.
Never been a nail technician or hairdresser. I built and owned the salon and then sold the salon. Never been a financial adviser. I have given advice to a couple of RE principals regarding demographics and the market and added in some very specific recommendations in exchange for RE data access.
Why focus? Are you in the same job now and only ever been in one job? Poor Zaph...
School teacher, Academic, early Apple employee, app developer, hair dresser/nail tech, financial adviser, trust kid, commercial property owner, Toowoomba guru - what did I leave out? Your story needs more focus pork.
Jack of all trades; Master of none.
A Professional Demographer to an amateur demographer:"negative natural increase will never outweigh the positive net migration"
It's a good concept and in line with the trend of rating and review websites for just about everything else.
But I see some major problems. - The LL or PM for a property may change and improve but the review won't. - Unreasonable expectations from tenants in their reviews. I checked out a couple of reviews and one was indignant at being charged for water (QLD).
Dickheads also make the most noise, so this website is pointless.
Just look at twat and pauk. Giant dickheads, make a lot of noise.
"Panics do not destroy capital; they merely reveal the extent to which it has been previously destroyed by its betrayal into hopelessly unproductive works." John Stuart Mill
"Every man is entitled if he can to order his affairs so as that the tax attaching under the appropriate Acts is less than it otherwise would be. If he succeeds in ordering them so as to secure this result, then, however unappreciative the Commissioners of Inland Revenue or his fellow taxpayers may be of his ingenuity, he cannot be compelled to pay an increased tax." - Thomas Tomlin, Baron Tomlin, in the UK House of Lords case, IRC v. Duke of Westminster (1936), and
"Now of course I am minimising my tax … and if anybody in this country doesn't minimise their tax, they want their heads read." - Kerry Packer, Australian media tycoon, March 25, 2005.
I'm not suggesting that what Pauk is doing with the family trust is illegal, or even morally wrong.
What I do object to is his breathtaking hypocrisy when it comes to tax- and means-test-sheltered assets. He's happy to clip his ticket as a trust-fund baby, but is the first to complain about the similarly sheltered treatment of a PPoR when it comes to age pension qualification. He's forever volunteering OPM--other people's money--to fund government expenditure, but mysteriously hasn't suggested that we attack the 1%'s use of family trusts to reduce marginal tax rates through income-splitting.
I'm not suggesting that what Pauk is doing with the family trust is illegal, or even morally wrong.
What I do object to is his breathtaking hypocrisy when it comes to tax- and means-test-sheltered assets. He's happy to clip his ticket as a trust-fund baby, but is the first to complain about the similarly sheltered treatment of a PPoR when it comes to age pension qualification. He's forever volunteering OPM--other people's money--to fund government expenditure, but mysteriously hasn't suggested that we attack the 1%'s use of family trusts to reduce marginal tax rates through income-splitting.
Hypocrite, thy name is Pauk.
Ok, listen once again and for the last time. It is not my capital, not my kids or their kids capital. I did not earn it, nor do I ever get use or access to it, just as my kids will not.
There is no income splitting as there are very strict rules as to what the beneficiaries get.
Stubby, you are making shit up and making a fool of yourself.
Pensioners who live in, and own, multi million dollar homes, should not get full welfare.
Ok, listen once again and for the last time. It is not my capital, not my kids or their kids capital. I did not earn it, nor do I ever get use or access to it, just as my kids will not.
There is no income splitting as there are very strict rules as to what the beneficiaries get.
Stubby, you are making shit up and making a fool of yourself.
Pensioners who live in, and own, multi million dollar homes, should not get full welfare.
Paul you receive a share of the income distribution from the trust. So although the income will become part of your income test should you ever apply for a pension, the asset won't be because it's within a trust that you don't control.
No one is suggesting that your family isn't entitled to do that, but it is hypocritical to attack the home ownership of everyday people just because their house value has risen whilst not acknowledging that your own family assets are protected by the veil of a trust.
For example if those older residents transferred ownership of their home to a trust that another family member controlled, that elderly resident would have the same asset protection that your families assets enjoy. But most people just don't go to those lengths to protect themselves from a government trying to take their home away from them because they believe that a responsible government will allow them to live their latter years in peace before they die.
And you know it's not an unreasonable request is it, to be left alone to live out their few remaining years.
Any expressed market opinion is my own and is not to be taken as financial advice
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