In fairness without Scumbag Connolly on the team I did find Dublins progress through the championship this year something a bit special to watch.
Its a pity there is no one even close to competing with them.
In fairness without Scumbag Connolly on the team I did find Dublins progress through the championship this year something a bit special to watch.
Its a pity there is no one even close to competing with them.
There'll be someone getting close on Sunday. This Mayo team are better than last year. Thankfully I think Dublin are too.
You are technically correct...the best kind of correct
World Record Holder for Long Distance Soul Reads: May 7th 2011
Just wondering if it's the "done" thing seems there maybe a lot of people in bitcoin who are unfamiliar with their tax obligations.
I doubt most are as they won't be caught, and it's in it's infancy. How do they know you have it, what price you got it at, how much profit you made and so on.
What's the deal if you are using it as a currency instead of selling it, like people just buying public transport tickets and so on, just sounds messy. Let alone just going and buying an apartment in abu dhabi with it.
I'm holding on to mine, might buy more not sure.
Similar problems for virtual items you get in games online, you can sell them for thousands and there is no tracking it really.
I doubt most are as they won't be caught, and it's in it's infancy. How do they know you have it, what price you got it at, how much profit you made and so on.
What's the deal if you are using it as a currency instead of selling it, like people just buying public transport tickets and so on, just sounds messy. Let alone just going and buying an apartment in abu dhabi with it.
I'm holding on to mine, might buy more not sure.
Similar problems for virtual items you get in games online, you can sell them for thousands and there is no tracking it really.
People could be stung with massive tax bills down the line if they don't declare it properly.
This would definitely be the most tax efficient way of cashing in if you have no other profitable asset sales that year.
What kind of tax is applicable for linkedfinance profit does anybody know, I never looked into it but should have. It wouldn't apply for the above and just be unearned income?
What kind of tax is applicable for linkedfinance profit does anybody know, I never looked into it but should have. It wouldn't apply for the above and just be unearned income?
Yeah certainly a risk, the nature of anonymous transactions however will probably have a lot of people avoiding it I'd guess.
Do you not become visible once you cash out the gainz though? As in most people are entering /exiting bitcoin through the exchanges which require ID and money transferred from bank a/c
First Liverpool game: Liverpool 5 Birmingham 1
1985 ish
Gary Gillespie hatrick
Missed most of game due to staring at what Alan Hansen did when ball was other end!
Tonight, was supposed to meet people to watch game, instead I sat in the garden of my new pub with my new head chef drinking pints and playing with his husky.
Am I a real fan; I'm apparently old enough to pass for one
I doubt most are as they won't be caught, and it's in it's infancy. How do they know you have it, what price you got it at, how much profit you made and so on.
What's the deal if you are using it as a currency instead of selling it, like people just buying public transport tickets and so on, just sounds messy. Let alone just going and buying an apartment in abu dhabi with it.
I'm holding on to mine, might buy more not sure.
Similar problems for virtual items you get in games online, you can sell them for thousands and there is no tracking it really.
Detection risk by Revenue is low but the fact remains that technically cryptos are a non-Euro currency like any other and therefore within the scope of CGT.
It's like the die hard Man Utd fan gym instructor I heard the other week complaining bitterly about some team they were playing getting six minutes injury time. A huge injustice according to my earwigging.
FFS, I can just about tell you the shape of a football and even I know about Fergie time.
I hold silver in tit for tat, and I love you for that
Originally posted by Hitchhiker's Guide To...View Post
Because its essentially gambling and gambling isn't subject to capital gains tax. Gambling gains aren't subject to capital gains for the very good reason that then gambling losses would also be eligible to reduce capital gains tax, and losses are a far more frequent occurence so Revenue wants nothing to do with gambling.
Its up to the Revenue to make it very clear that losses on bitcoin can be used to reduce capital gains tax, as up until now they haven't done that precisely because they feel everyone is going to lose their hats in that market and they don't want to be explicit that this can reduce your tax.
So really the state isn't playing fair here by not clarifying the rules of engagement.
The rules on claiming benefits, by contrast, are very clear.
I'd say the big reason its viewed as different though is that there is a view you've risked your money and earned a gain through your own skill with bitcoin, whereas with working in black market while claiming benefits theres no skill involved.
Not really. There's pretty clear rules regarding currencies being a capital asset subject to CGT, and I doubt there's much debate that Bitcoin is a "currency".
Would you say the same for shitty currencies like the Zimbabwe Dollar?
People say I should be more humble I hope they understand, they don't listen when you mumble
Get a shiny metal Revolut card! And a free tenner! https://revolut.com/referral/jamesb8!G10D21
It's like the die hard Man Utd fan gym instructor I heard the other week complaining bitterly about some team they were playing getting six minutes injury time. A huge injustice according to my earwigging.
FFS, I can just about tell you the shape of a football and even I know about Fergie time.
Fergie, another red dictator . You are well versed comrade.
Originally posted by Hitchhiker's Guide To...View Post
Because its essentially gambling and gambling isn't subject to capital gains tax. Gambling gains aren't subject to capital gains for the very good reason that then gambling losses would also be eligible to reduce capital gains tax, and losses are a far more frequent occurence so Revenue wants nothing to do with gambling.
Its up to the Revenue to make it very clear that losses on bitcoin can be used to reduce capital gains tax, as up until now they haven't done that precisely because they feel everyone is going to lose their hats in that market and they don't want to be explicit that this can reduce your tax.
So really the state isn't playing fair here by not clarifying the rules of engagement.
The rules on claiming benefits, by contrast, are very clear.
I'd say the big reason its viewed as different though is that there is a view you've risked your money and earned a gain through your own skill with bitcoin, whereas with working in black market while claiming benefits theres no skill involved.
It isn't clearly not gambling as defined under current legislation. It's a currency. Same as if you hold sterling and you have gains or losses.
By not declaring you are leaving yourself open to a substantial penalty in a few years.
Originally posted by Hitchhiker's Guide To...View Post
Wait, how does that work? Say you buy sterling now as you'll be going there next year and feel its going to rise in the meantime. You technically would have to declare a gain on that to Revenue if it did indeed rise?
If you convert back to euro yes it isn't a gain. If you never convert back you don't pay any tax.
If you convert back to euro yes it isn't a gain. If you never convert back you don't pay any tax.
Interesting. If you get share options in Dollars and keep the share in Dollars post vesting and never return it to euros or Ireland. The share price drops , are you liable ?
Originally posted by Hitchhiker's Guide To...View Post
Its beside the moral point, but the Capital Gains Tax system in Ireland is the height of stupidity. There's no tax incentives to invest such as ISAs in the UK and just about every country has. You make a big gain one year and you pay 33% tax on it. Then you lose all your money the next year and can't get any of that tax back. Investment is a multi-year thing to meet long-term goals but tax system treats it as a series of yearly one-offs. Its no wonder that we have one of the lowest rates of household investment in Europe, and everyone puts every penny they have into the one bad investment that has any tax advantage - their own home.
Losses can be carried forward and offset against gains except development lands and losses to connected parties.
Interesting. If you get share options in Dollars and keep the share in Dollars post vesting and never return it to euros or Ireland. The share price drops , are you liable ?
Without looking to much into it as it's a bit more complex. Assuming your Irish tax resident. Pay income tax immediately on any difference between the share price and the option price. When vested pay income tax on the difference between the market price and the option price (any tax initially paid can be used as a credit). Then into normal CGT and gains/ losses are due when sold - currency irrelevant in this case.
I think it was after this action that the Zimbos said 'fuck this, there are no more zeros':
On 2 February 2009, the RBZ announced that a further 12 zeros were to be taken off the currency, with 1,000,000,000,000 third Zimbabwe dollars being exchanged for 1 new fourth dollar.
"We are not Europeans. Those people on the continent are freaks."
First time out of the country and first ever match I went to was Man Utd v Sheffield United 1990. Went with secondary class school mate called Higgins who was as man about the town as any lad could claim to be back then as he travelled solo before and sometimes with others. Great long potter at snooker despite wearing prescription glasses and having terrible acne. Higgins was full of confidence and a staunch man utd fan, had all the merchandise and magazines. Watching the vidi printer on tv of a Saturday afternoon was as good as it got for me but the vidi printer was amazing back then. Goals could happen from between when you seen the half time vidi printer scores to the full time scores. Couldn’t believe I was going, being well ahead of the vidi printer scores for this one. Doesn’t get any better than this.
One of those same day boat/train jobbies where you leave early in the morning and sail back that night and get back early Sunday morning which was the norm. Terrible commute in November looking back it as it seemed you were travelling in unending darkness, off the boat and on the train I though daylight would never break. Higgins didn't seem to mind at all.
Arrived in Manchester had breakfast in McDonalds which I considered a complete luxury. After breakfast Higgins brought me to the corner newsagents shops where we sought out the dirty magazines which weren’t wrapped in plastic. Look at her, jasus look at those ones. The Pakistanis wouldn’t run you I suppose in the hope you might buy. Money didn’t stretch to that and even if it did you wouldn’t dare for fear of being stopped at Dublin port!.
Higgins had this habit of envagling his way into random strangers company which I found fairly shocking. One minute you’d be standing on the railway station platform reading schedules like I knew what the hell I was looking at the next minute I’d turn around and Higgins would be over chatting with a new group. Nearly caused us to miss the start of the match. Higgins said some of those lads he was chatting with earlier said they would meet us on the hill overlooking the shop and tour place at Old Trafford at 2.30. I said 2.30 you sure, that’s leaving it a bit late the match starts at 3pm. I knew this was never going to happen but Higgins stayed staunch and at 2.45 I just had to drag him towards the turn stiles. A little while earlier Steve Bruce walked through the growing throng right through the front stopping to sign autographs. I was right there beside him. There he was wearing a tweed sports jacket signing away. Was never one for autographs myself never seen the point in asking for an autograph. You knew if you showed someone at a later point there would be no wow factor from them at all just like looking at holiday photos now. Nobody is going to say oh that’s the Taj Mahal wow. Better pictures are there on Google!. And I couldn’t have someone say that’s not bleedin Steve Bruce’s signature. That would kill me.
The game was probably a bore fest 0-0 after about 60mins but to me back then it was a suspense thriller of a game. Les Sealey looked like a colossus stood in goal, had little to do but commanded that 18yd box. You just couldn’t get much better than Les Sealey. Probably my favourite player in the team Neil Webb, what a touch and striker of a dead ball. Pallister, Blackmore, McClair, Hughes all the greats and yet still no goals. That soon changed when top scorer Steve Bruce bagged the first to the massive roars. Hughes got the second to lock it up and before you knew it we were waiting at Crewe for the train to Hollyhead with Higgins off again in his stranger social circles.
Thought Id never get home, seemed endless travel. Enjoyed it but swore never again. Broke that promise 20 years later………….. The Return!
Went to Old Trafford once, 1980 with Waterford crystal under 12's/13's. Shay Brennan was looking after us. He played for UTD for years after Munich crash ( we thought he was on plane, but not sure if this was true). Scored twice in UTD first game after crash.
Memories
Brennan treated like royalty at Old Trafford by everyone
Game ended 2-2 v Stoke, Lou Macari scored, met Kevin Moran and Arthur Albiston, wasn't very impressed as was a Leeds fan.
Old trafford and Manchester in general being a very grim place, ground didn't feel like a place for kids to be.
Was fascinated at lots of Pakistani fans in crowd totally pumped for UTD. You didn't see many different nationalities in Waterford in 1980.
We beat a Manchester side that had some really tall black kids playing; 6-5 and I scored 4 inc late winner.
W He played for UTD for years after Munich crash ( we thought he was on plane, but not sure if this was true). Scored twice in UTD first game after crash.
Wasn't on the plane, that game was his debut.
The sport that unites Catholic, Protestant and dissenter has had its day of days. Pity anybody who can't enjoy it. Some day. Gerry Thornley 23/3/09
Originally posted by Hitchhiker's Guide To...View Post
Because its essentially gambling and gambling isn't subject to capital gains tax. Gambling gains aren't subject to capital gains for the very good reason that then gambling losses would also be eligible to reduce capital gains tax, and losses are a far more frequent occurence so Revenue wants nothing to do with gambling.
Doesn't nearly every other country in the world tax gambling without allowing losses to be offset against other income?
I remember feeling uncomfortable when mr pillowtalk was saying that pro gamblers should pay tax because I couldn't find any reason to disagree with him.
Originally posted by Hitchhiker's Guide To...View Post
Its beside the moral point, but the Capital Gains Tax system in Ireland is the height of stupidity. There's no tax incentives to invest such as ISAs in the UK and just about every country has. You make a big gain one year and you pay 33% tax on it. Then you lose all your money the next year and can't get any of that tax back. Investment is a multi-year thing to meet long-term goals but tax system treats it as a series of yearly one-offs. Its no wonder that we have one of the lowest rates of household investment in Europe, and everyone puts every penny they have into the one bad investment that has any tax advantage - their own home.
Due to the high fees and the taxes here I never bothered with anything outside my PRSA. Between the 50% income tax and high CGT they really make it impossible to break out of the loop.
Due to the high fees and the taxes here I never bothered with anything outside my PRSA. Between the 50% income tax and high CGT they really make it impossible to break out of the loop.
True that. If you are on decent money, 50% is going to the Revenue anyway and pension is really the only game in towm for tax-efficient long-term saving.
And even then they cap it.
Sure someone has to keep V in robot devices....
"We are not Europeans. Those people on the continent are freaks."
The people in the pension business who keep telling us that people are going to have to work into their 70s+ really need to talk to the people in automation who tell us there's going to be no jobs in a few years.
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