Don't really have a problem with tax payments. Being a POOR farmer there is always a huge debt to carry on each year. All profits can be written off
Got me thinking, why can't we claim for depreciation on cash?Don't really have a problem with tax payments. Being a POOR farmer there is always a huge debt to carry on each year. All profits can be written off
Good morning divs4everdoes anyone know if the market is closing early today ??
it often does before the Christmas break but i haven't seen anything official on that ( probably because half the folk who care went on holiday last Friday )
Interesting question. Very interesting.Got me thinking, why can't we claim for depreciation on cash?
what ??Got me thinking, why can't we claim for depreciation on cash?
Me thinks when his sleigh hit the windfarm turbines that was it kar-putSanta?
Allo Santa?
US market missing you
Humm should we fill a missing person report?
Just afraid Queensland police could investigate...
Bad taste humour aside..Santa is gone i am afraid
or rendered obsolete in a new cashless (CBDC) economy ( which some nations are already in early stages of embracing )The first question is: Does Cash have a limited effective life? I suppose anyone could argue that, over time, the value of cash hidden under the mattress will deteriorate over time, but certainly not in any one person's life time. These new plastic notes are fairly durable. Even if someone wanted to argue that Cash would be inflated away, a long term inflation rate would need a couple of life times to reduce the value of cash to zero.
still one US trading day left ( not that is likely to help the ASX next week )Me thinks when his sleigh hit the windfarm turbines that was it kar-put
Hmmm.Interesting question. Very interesting.
The ATO define a depreciating asset as "an asset that has a limited effective life and can reasonably be expected to decline in value over the time it is used".
The first question is: Does Cash have a limited effective life? I suppose anyone could argue that, over time, the value of cash hidden under the mattress will deteriorate over time, but certainly not in any one person's life time. These new plastic notes are fairly durable. Even if someone wanted to argue that Cash would be inflated away, a long term inflation rate would need a couple of life times to reduce the value of cash to zero.
The second question is: When do you use cash? The ATO would argue that you use cash when you actually spend it, not when it is hidden under the mattress. So, when it is being used, it doesn't decline in value, it has the value at the time it is spent.
I'm afraid I don't see an argue for allowing cash as a depreciable asset. Damn!
KH
Interesting question. Very interesting.
The ATO define a depreciating asset as "an asset that has a limited effective life and can reasonably be expected to decline in value over the time it is used".
The first question is: Does Cash have a limited effective life? I suppose anyone could argue that, over time, the value of cash hidden under the mattress will deteriorate over time, but certainly not in any one person's life time. These new plastic notes are fairly durable. Even if someone wanted to argue that Cash would be inflated away, a long term inflation rate would need a couple of life times to reduce the value of cash to zero.
The second question is: When do you use cash? The ATO would argue that you use cash when you actually spend it, not when it is hidden under the mattress. So, when it is being used, it doesn't decline in value, it has the value at the time it is spent.
I'm afraid I don't see an argue for allowing cash as a depreciable asset. Damn!
KH
My first job was as a copy boy on the now defunct Daily News in 1966 for thr princely sum of take home moolah of $ quid a weekor rendered obsolete in a new cashless (CBDC) economy ( which some nations are already in early stages of embracing )
in 1972 my first official job paid $25 after tax per week , but try living on $25 a week now ( for most Australians )
that is way less than one lifetime ( just over 50 years )
yes my father's last pay ( he died in 1969 ) was roughly the same as my first week's pay as an apprentice the '60's/70's were an educational periodMy first job was as a copy boy on the now defunct Daily News in 1966 for thr princely sum of take home moolah of $ quid a week
Left out a bit was 4 quid a week for about 3 weeks then decimal currency took overyes my father's last pay ( he died in 1969 ) was roughly the same as my first week's pay as an apprentice the '60's/70's were an educational period
the decimal currency change-over in particular ( imagine abandoning cash completely after that little scam )
The latest losses don’t bode well for investors hoping for another “Santa Claus” rally. That’s Wall Street’s term for when stocks rise in the last five trading days of December and first two of January.
“The proverbial ‘Santa Claus’ rally, which since 1950 has statistically returned approximately 1.3-1.8% nearly 80% of the time, has looked as though Santa has taken an early vacation,” said [an analyst.]
Snakes and ladders except the ladders are standing only on one legextracted from @bigdog 's often informative daily N.Y. summary, a definition
a bear market ??The stats also show that Santa doesn't show up in bear market years.
I agree with you that the US market certainly is in a bear market. The stats (as of Tuesday's close) for the three major US indices verify this:The stats also show that Santa doesn't show up in bear market years.
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