Tim 🌽

A brain-brother of the night dispatcher of Bradshaw

[Tim 🌽 @tim_bitcoin]

@martinm680 @graphain @JayFitz112 @arbsmichael @RBAInfo No the bank doesn’t keep it. The money is destroyed by reducing the balance of the loan, the opposite of what happened when it was created.

[Tim 🌽 @tim_bitcoin]

@RHyperboreo Ive used the words “approachable and egalitarian” in his interview

[Tim 🌽 @tim_bitcoin]

@dont_grow_weary @BitcoinCoderBob Unfortunately sometimes you can spend a lot of time developing logical and obvious cases and still miss the point entirely

[Tim 🌽 @tim_bitcoin]

@BitcoinCoderBob I know it's scary! But you can do it!

Just give it a try.

[Tim 🌽 @tim_bitcoin]

@Mike_M_Klotz Viper didn't even have windows

[Tim 🌽 @tim_bitcoin]

You're going a bit far there, the styling is EQUALLY the point on a Ferrari.

In the mid 90s, this interior was superb! Beautiful high quality leather seats, stunning gated shifter, ergonomic layout, airbags, wrap around cockpit - it was highly praised at the time.

And the exterior styling is easily in the top 3 most beautiful Ferrari designs of all time.

[Tim 🌽 @tim_bitcoin]

@28delayslater It actually looks pretty good when you turn the lights off

[Tim 🌽 @tim_bitcoin]

@milessuter @CashApp Be careful what you promise

[Tim 🌽 @tim_bitcoin]

Chesterton’s 50% CGT discount.

[Robin Dods @toy59496]

CGT Changes: Over 11,000 calculations to do your Tax

I'm going to explain the administrative and accounting disaster that is our new inflation corrected CGT arrangement.

The new CGT system encourages people to get dividend paying stocks. Many people do dividend reinvestment programs over the lifetime of their holding to try and build wealth. Seems sensible.

Now imagine you have a standard 20 share parcel of shares with dividends twice a year that you put into a dividend reinvestment program. You hold it for 15 years and then sell it, fortunately all have been winners. Well done.

Under the new system you have to do over 11,000 calculations at tax time to satisfy the commissioner. See the image.

And these aren't simple calculations. It's not like you're getting the sale price minus the purchase price and halving the difference as in the existing system. My 6-year-old can do that calculation. No, the new system requires you to do a compounding equation with different start dates and different end dates where you have to ensure that the inflation for that year matches the particular purchase date and take it through to sale. I haven't even gone into whether you use first in first out accounting, it already looked complicated enough. My 16-year-old would struggle with that calculation.

Peter Costello said a major reason for introducing the 50% CGT discount was it's simplicity and compliance costs. He was right.

The new government expects you to have a PhD in mathematics or pay your accountant five times as much for the administrative burden.

I'm pretty sure the Labour Minister for Finance Katie Gallagher is not able to do this calculation. Why doesn't some enterprising journalist put her on the spot?

And of course the ATO will need to expand markedly to ensure compliance. Which you will pay for in your taxes.

[Tim 🌽 @tim_bitcoin]

@BenjaminDEKR Not convinced - they've mostly taken the 458 design from Pininfarina and make it slightly worse with each generation

[Tim 🌽 @tim_bitcoin]

@TrungTPhan Efficiency? Ferrari has lost the plot. Nobody is buying a Ferrari for efficiency

[Tim 🌽 @tim_bitcoin]

@JoshWest247 Is your friend ChatGPT?

[Tim 🌽 @tim_bitcoin]

@cptdankkk I thought this guy was smart

[Tim 🌽 @tim_bitcoin]

@airkatakana

[Tim 🌽 @tim_bitcoin]

@tanikku It’s easy just use かける for everything

[Tim 🌽 @tim_bitcoin]

@SpeedSportLife It's not even that hard to make a car look good - Brabus did this no problems this year. They've deliberately made it ugly, I just don't know the reason

[Tim 🌽 @tim_bitcoin]

@clairlemon People under 35 turn into people over 35

[Tim 🌽 @tim_bitcoin]

@LemmyKilmi35258 @TheCinesthetic what