Presume your company not listed otherwise no profits share price will nosedive. A lot of SMEs behave like this, no profits but owners draw expenses. Good if u don't intend to take it to listings
It's a small private limited company.
Presume your company not listed otherwise no profits share price will nosedive. A lot of SMEs behave like this, no profits but owners draw expenses. Good if u don't intend to take it to listings
It's a small private limited company.
Hey bros, I don't presume to tell u how 2 run your biz. But if u declare losses year after year, there are consequences. Corp clients will flag u out if they do background fin checks, u sure as hell can't borrow monies, u have to make up shortfalls with your own investments and u sure as hell won't get good valuations if u choose to exit. Anyway I am talking about the rich in Singapore and they sure as hell not paying 28%!
There are lots of companies declaring lost year after year listed in SGX.
Usually 3 digit company.
$0.01 to $0.09 per share.
There are lots of companies declaring lost year after year listed in SGX.
Usually 3 digit company.
$0.01 to $0.09 per share.
The US has done it. Nows our turn. It's time the rich bear a bigger burden and contribute more to the nation's coffers so that it can then spend more on social welfare. How about it? Those households with $400k annual income and above.
u have to make up shortfalls with your own investments and u sure as hell won't get good valuations if u choose to exit. Anyway I am talking about the rich in Singapore and they sure as hell not paying 28%!
Fuck that. The poor are poor not because the rich are rich. Taxing the rich to handout to the poor is just punishing the productive and rewarding the unproductive.
No need to expense so much. Register your firm in BVI or cayman, book all profits there. Then bring the money into sinkieland without needing to pay any tax. That's how the rich in sinkieland avoid paying anything. And before you go cursing at the poor in sinkieland, do note that majority chunk of govt spending goes to funding foreigners education, defense buying USA hardware, super high salaries of admin service and ministers etc. only less than 5% of total annual budget goes into supporting the useless poor.The corporate tax rate in NZ is 28%. This means that for every $1000 profit, I have to pay $280 to help support some loser low life scum who can't be bothered to get a damned job because they prefer to help themselves to money extorted from successful and hardworking members of society.
I therefore do my best to minimise my tax burden by increasing company expenditure to reduce my tax exposure.
For example, If I go for a holiday, I'll arrange to meet a few potential customers at the same time so I can write off the air fare and a portion of the accommodation expenses, car hire, meals and so on.
Before the end of each financial year, I'll try to spend as much of my profit as possible on causes that I support and on people I know who deserve the money. My aim is to achieve ZERO profit before accounts close so I don't have to pay a single cent to those damned welfare recipients. If they want money, they should work for it just like everybody else. If they can't be bothered, they should be left to face the consequences of their own tardiness. They certainly aren't getting a freakin cent from me.
Yes. An alien tax would be most delightful. Raise the levies I say!
No need to expense so much. Register your firm in BVI or cayman, book all profits there. Then bring the money into sinkieland without needing to pay any tax. That's how the rich in sinkieland avoid paying anything.
Best is a flat $10,000.00 tax across the board. Why should some people get free street lamps and police services while others pay a pound of their flesh?
This is true. Management of these companies know that their companies will never be profitable again but they will in fact go back to shareholders for more funds through a rights issue. All they want are funds to keep themselves and their staff employed.
Funny, I was telling my dad the exact same thing a couple of days ago. Issuing rights and warrants after senior management has run out of funds visiting massage parlours, ktvs, or sending their wives to spa resorts.
My ex-gf also worked as an accountant for one of those listed companies, the boss just kept throwing whatever receipts he had for claims, even when they were NETs receipts that had no item description.
Rich people are rich for a reason. They usually made their money from business, stock markets, properties etc.
Lot of investment they do is tax free. Example Singapore property profit has no capital gain tax.
Stock market also no capital gain tax unless you book your profit under a company name.
When come to business ; there are 101 ways to "avoid" tax. (not invading tax, avoid is legal) Example reducing of finish goods; mark down closing stocks value etc. Business can declare loss to bring forward the loss into new financial year.
Rich people even can claim back 7% GST on anything they buy. (example iPhone, Macbook Pro)
Hence whatever rich buy; it is cheaper than what the poor/middle class pay.
Tax itself is design to tax the masses. (middle class and poor)
Increasing tax will cause middle class to be poorer as they cannot avoid tax due to "salary" the company declare for them.
A tax increase will not hurt the RICH at all. It only hurt those whom are "not so rich"
I think U can take the scholarship without the money. That is if they want to.
Look I never said to follow exactly the US. I just said let's raise taxes on the rich in Singapore. What's wrong with this?