2013 Federal Election

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Re: 2013 Federal Election

Post by Peppermint Lounge »

mech wrote:"Didn't do much to earn it"? We don't know the details of the transaction, but fact is they would be negligent if they weren't trying to minimize their tax. Are you saying you take no deductions? If there was a legal way to save on your tax you wouldn't take it?
This is a tax windfall, not proactive tax minimisation. If it's as normal as you're trying to suggest, name another company who obtained a payment of this magnitude for doing a similar thing. Why are you defending them?
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Re: 2013 Federal Election

Post by mech »

Tax windfall? How so? They're using a loss to cancel out a gain. The "windfall" part of it is being paid interest on the tax refund - but the government happily applies that to taxpayers who did not pay enough tax.

What is your exact problem here? News paid too much tax according to the law, got it back. If you have a problem with anything, it should be with the law in the first place. What's got you so worked up about this, unless you think they're being unlawful?
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2013 Federal Election

Post by Peppermint Lounge »

They didn't pay too much tax. They incurred a loss which is tax deductible. Only News didn't lose market cap as the 2b loss was offset by a 2b gain. The deduction remained however. This according to available published info.

Tax windfall because the dudes getting together in '89 didn't plan for foreign exchange rates in the early 2000s which facilitated the deduction. Windfall a much more applicable term than your 'tax minimisation'. You flagged the interest which makes up the majority of the payment.

To answer your question what stands out for me, or my problem as you put it, is Rupe making with the platitudes via his Twitter feed and various tacky newspapers regarding Australia's dire economy, also the terrible News Corp screamers during the election campaign, meanwhile this is playing out in the background. 882m is a lot even for News Corp, as if they weren't already vested enough in gunning for a favourable election outcome. It's plain to see and you wouldn't diminish your politics or views at all by acknowledging 'heh, yep, timing' rather than leap to their defence which I'm still curious as to your motivation for doing so. Why defend News Corporation and their dodgy 882m tax refund?
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Re: 2013 Federal Election

Post by Froggy »

dodgy? What planet are you on, serious question. You cannot believe the stuff you are writing in this thread, its nothing more than blind hatred.
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Re: 2013 Federal Election

Post by Froggy »

Also I think the article has been updated with this tidbit which I think makes the whole point of the article well pointless?

"Under the Tax Administration Act, payments to taxpayers come out of the Contingency Reserve Fund, which sits as a contingent liability in the budget."
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Re: 2013 Federal Election

Post by mech »

Peppermint Lounge wrote:They didn't pay too much tax. They incurred a loss which is tax deductible. Only News didn't lose market cap as the 2b loss was offset by a 2b gain. The deduction remained however. This according to available published info.

Tax windfall because the dudes getting together in '89 didn't plan for foreign exchange rates in the early 2000s which facilitated the deduction. Windfall a much more applicable term than your 'tax minimisation'. You flagged the interest which makes up the majority of the payment.

To answer your question what stands out for me, or my problem as you put it, is Rupe making with the platitudes via his Twitter feed and various tacky newspapers regarding Australia's dire economy, also the terrible News Corp screamers during the election campaign, meanwhile this is playing out in the background. 882m is a lot even for News Corp, as if they weren't already vested enough in gunning for a favourable election outcome. It's plain to see and you wouldn't diminish your politics or views at all by acknowledging 'heh, yep, timing' rather than leap to their defence which I'm still curious as to your motivation for doing so. Why defend News Corporation and their dodgy 882m tax refund?
I'm 'defending' them because what's being written about this is incredibly biased and misleading. The sheer hatred of News by lefties is mindblowing - in an ideal world apparently we'd all just read the Guardian, Fairfax and the ABC? Anyway. It IS tax minimization - applying a loss to pay less tax on a gain. I don't understand why it bothers you that they didn't 'plan' for it - in business and investing it is next to impossible to plan for every scenario, and it's about making the most of what you've got available to you, and unwinding the deal at that time worked for them.

So what if Rupert Murdoch is on twitter complaining about the deficits in Australia? It's News Corp's money they're getting back, NOT the tax payers'. And what about the timing? I just don't get why this bothers you. Do you think there's a grand conspiracy here and that Murdoch somehow managed to do this by getting the Libs back in?
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Re: 2013 Federal Election

Post by Peppermint Lounge »

I don't find it incredibly biased and misleading. It is what it is. And is your mind really blown at leftist hate of News Corp? Yourself who's composed Age hate threads and has multiple cracks at left bias in media, rather than cooly accept the same would be the case for many leftists who during the election campaign endured this from right-biased News Corp...

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... you call the same animosity they have for News that you have for Fairfax mind-blowing.

Froggy wrote:Also I think the article has been updated with this tidbit which I think makes the whole point of the article well pointless?

"Under the Tax Administration Act, payments to taxpayers come out of the Contingency Reserve Fund, which sits as a contingent liability in the budget."
Is that the same Contingency Reserve Fund News Corp papers smashed Labor for tapping into to pay Telstra what they were lawfully owed? :lol:
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Re: 2013 Federal Election

Post by Madmya »

It's so funny searching for Tony Abbott on social media. Rupert Murdoch's name comes up so often, it's hilarious. They're ravenous, them lefties!
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Re: 2013 Federal Election

Post by Froggy »

Funny, I didn't hear Pep whinging in 2007 and 2010 when most news mastheads backed Rudd and Labor. They only have a cry when someone says something they don't like because it's not fair, news gets some tax back, it's not fair, people say the ABC is biased and it's not meant to be, well too bad it's not fair its ours leave it alone. wah wah wah
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Re: 2013 Federal Election

Post by Froggy »

mech wrote: So what if Rupert Murdoch is on twitter complaining about the deficits in Australia? It's News Corp's money they're getting back, NOT the tax payers'. And what about the timing? I just don't get why this bothers you. Do you think there's a grand conspiracy here and that Murdoch somehow managed to do this by getting the Libs back in?
but but it's not fair because we want his money wah wah. I don't think the people who actually believe the stuff you have written above realise how stupid they sound.
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Re: 2013 Federal Election

Post by selfish »

Froggy wrote:Funny, I didn't hear Pep whinging in 2007 and 2010 when most news mastheads backed Rudd and Labor.
Can you post the front pages? I don't remember Howard being shown as literally a Nazi.
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Re: 2013 Federal Election

Post by Cletus »

Selfish has become the bloke at the party asking people to provide supporting material in any general conversation.
I'm the bloke saying "use Google".
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Re: 2013 Federal Election

Post by Hercy »

Selfish was asking more of a rhetorical question?
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Re: 2013 Federal Election

Post by Cletus »

I doubt it?
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Re: 2013 Federal Election

Post by selfish »

Nah I really was asking for evidence. I see a bunch of fucking cunts here banging on about shit as if they know fucking everything, and then when pressed, have nothing more to stand on than a Good Solid Reckon.

Why should I go google shit to prove someone else's point?
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Re: 2013 Federal Election

Post by Madmya »

It's called discussion.
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Re: 2013 Federal Election

Post by selfish »

Yeah, why let facts get in the way of all these important opinions?
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Re: 2013 Federal Election

Post by Cletus »

selfish wrote: Can you post the front pages? I don't remember Howard being shown as literally a Nazi.
Can you please quote the posts claiming Howard being shown as literally a Nazi? Can't seem to find any to support your claim.
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Re: 2013 Federal Election

Post by Froggy »

selfish wrote:Nah I really was asking for evidence. I see a bunch of fucking cunts here banging on about shit as if they know fucking everything, and then when pressed, have nothing more to stand on than a Good Solid Reckon.

Why should I go google shit to prove someone else's point?
It's not that hard to look up who the papers backed for election. More to the point, the silence about Murdoch conspiracies when the papers agreed with the hysterical lefties in 2007 and 10 says it all. It's like your inability to take what is a cover mocking Labor identities with Hogans Heroes characters using their well known catch phrases in context but instead to run around claiming Murdoch is calling your Labour Heroes nazis.

Even further, we could push your same logic up there into the climate change thread and when people are asking the likes of yourself and Vzzzbx for evidence we get nothing more then a Good Solid Reckon because there is none you can provide but you still go on like you know fucking everything.
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Re: 2013 Federal Election

Post by Megaman »

Cletus wrote:
selfish wrote: Can you post the front pages? I don't remember Howard being shown as literally a Nazi.
Can you please quote the posts claiming Howard being shown as literally a Nazi? Can't seem to find any to support your claim.
It's all a Murdoch conspiracy because selfish failed to understand pop culture references used by the Daily Telegraph.
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Re: 2013 Federal Election

Post by Madmya »

selfish wrote:Yeah, why let facts get in the way of all these important opinions?
Message to Games Ranch: Every post must be properly referenced from now on. There is no place for opinions (unless you are important). We are in the midst of a transition from a discussion forum to a news site.
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2013 Federal Election

Post by Peppermint Lounge »

Megaman wrote:
Cletus wrote:
selfish wrote: Can you post the front pages? I don't remember Howard being shown as literally a Nazi.
Can you please quote the posts claiming Howard being shown as literally a Nazi? Can't seem to find any to support your claim.
It's all a Murdoch conspiracy because selfish failed to understand pop culture references used by the Daily Telegraph.
Could anything be less conspicuous than News Corp bias? Nothing conspiratorial about it. You'd think they'd just own it and welcome pissing the Left off yet their columnists and fans talk it down and attack everyone else for being biased.
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Re: 2013 Federal Election

Post by Madmya »

Who cares who donates, as long as it's factual the rest doesn't matter.
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Re: 2013 Federal Election

Post by Froggy »

Lets count the conservative\centre columnists employed by Fairfax.. 0

Guess what, instead of having a sook people just vote with their wallets. Now imagine if news corp perged it's lefty writers, fuck me the outrage would be dialled up 10000 billion times.
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Re: 2013 Federal Election

Post by itch »

News Corp bias is as obvious as a thumb on an elbow. And legal. As a private organisation.
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