AVZ Discussion 2022

[TheCount]

I like the sound of that either or why not both?

maybe you could have a word to my accountant? I've told him it'll be fine but he ain't having a bar of it.

Mind you if I had have listened to that dick head I'd be down 8% instead of up 800%

In my opinion, Accountants are there for an opinion on HOW to navigate the statutory frameworks and NOT for investment advice.

To be honest - it is none of their business what you do with your investment choices. If it's in an SMSF, the Auditor 'may' make a comment (but rarely have) about the potential risk - but FFS until last week it was an ASX200 company!!

Any reason to stay with your current guy?

TC.

 

[Winenut]

In my opinion, Accountants are there for an opinion on HOW to navigate the statutory frameworks and NOT for investment advice.

To be honest - it is none of their business what you do with your investment choices. If it's in an SMSF, the Auditor 'may' make a comment (but rarely have) about the potential risk - but FFS until last week it was an ASX200 company!!

Any reason to stay with your current guy?

TC.

"In my opinion, Accountants are there for an opinion on HOW to navigate the statutory frameworks and NOT for investment advice."

Very true words there Count

 

[9cardomaha]

My accountant when i ask him how i can reduce CAP gain payment.

 

[Winenut]

View attachment 15896

Arbitration

Arbitration

Arbitration

Arbitration

 

[JAG]

Arbitration

Arbitration

Arbitration

Arbitration

My balls are safe. Always have been

 

[TheCount]

View attachment 15899

My accountant when i ask him how i can reduce CAP gain payment.

Don't be afraid to ask CGT queries here too. @Thaz is a great resource and will gladly give you generic commentary.

Every shareholder should understand the basics of the tax implications of their investment - and take it as far as you are comfortable with... No harm in understanding the CURRENT treatment of income versus capital etc etc and throw in a few 'what-ifs' too..

Then work on "levelling-up" and learn to ask better questions of your Accountant!

TC.

 

[Samus]

Maybe my villa will end up close to yours?

Although I do like Liguria as well

All depends on AVZ really I'll be happy at either with a Connoisseur of fine tastes as a neighbour.
Otherwise I'll be with the other expats somewhere in the regions revitalising some old dilapidated ghost town in a run down villa that costs 12000 euros. Either way we'll keep in touch

 

[Azzler]

I've often wondered if there's decent tax benefits, without too much faf, in getting an ABN and claiming to be a "Professional Trader."
I did look into claiming home office space in this circumstance, but the rules are pretty crap trying to get that action, like I think you need a visible business sign outside you house.
Apart from claiming the odd computer and office chair, I don't think there's much in that.
Anyone got some real life experience doing this? Feel free to share.

 

[ptlas]

I would imagine management are constantly consulting lawyers and ASIC on their obligations regards disclosing this or that and would be shocked to hear otherwise. If they did update us everytime something that may be slightly of concern from what's happening on the ground in the DRC I don't think any of us would have a penny left invested in AVZ. I'm sure we all had a good think and some reservations before investing because of location, now imagine announcements ontop of that everytime some snake was sniffing around! I have to trust management and their experience in Africa, and that they are playing between the lines and doing what's in everyone's best interests. The silence can feel deafening sometimes but it's also draining the swamp of all the sneaky buggers! Imo

Great post
Sometimes stating the obvious, that any non-disclosure would be after legal advice, is necessary to realign the context.
AVZ management was far more aware of the situation than retail and no doubt still are.
They were/ are playing a high risk game of chess.
It would be FUCKING STUPID to discuss your tactics.
I don't like criticising/ attacking other posters, as the ethos of TSE is right up my street (well apart from beisha's old mate on the crapper who is to charting what Trump is to honesty)
But this SW character has been correctly described by Winenut.
Here with all guns blazing and expecting management to keep the enemy fully informed.
Only the enemy would be disappointed that they didn't.
Zero credibility.

 

[Samus]

In my opinion, Accountants are there for an opinion on HOW to navigate the statutory frameworks and NOT for investment advice.

To be honest - it is none of their business what you do with your investment choices. If it's in an SMSF, the Auditor 'may' make a comment (but rarely have) about the potential risk - but FFS until last week it was an ASX200 company!!

Any reason to stay with your current guy?

TC.

I'm partially joking TC, let's just say I'll be glad to be rid of him because he's conservative and boring with no sense of humor. Not to say lack of liquidity isn't somewhat of an issue for both of us atm but he's just going to have to wait.
His distaste for any sort of risk is evident. I feel like a naughty school boy whenever I go in there with Mr Tubby judging me for my irresponsible financial behaviours.

 

[MoneyBags1348]

Great post
Sometimes stating the obvious, that any non-disclosure would be after legal advice, is necessary to realign the context.
AVZ management was far more aware of the situation than retail and no doubt still are.
They were/ are playing a high risk game of chess.
It would be FUCKING STUPID to discuss your tactics.
I don't like criticising/ attacking other posters, as the ethos of TSE is right up my street (well apart from beisha's old mate on the crapper who is to charting what Trump is to honesty)
But this SW character has been correctly described by Winenut.
Here with all guns blazing and expecting management to keep the enemy fully informed.
Only the enemy would be disappointed that they didn't.
Zero credibility.

ptlas, ASIC are pretty toothless and not inclined to take action against anyone, and not necessarily their own fault, they have been underfunded and therefore understaffed for at least the last 10 years scomo’s government was in. Also, I think the disgruntled shareholder here who may be trying to convince others that he is willing to take part in a class action is not as well versed in the facts as he would pretend. I have been approached by two groups of shareholders (A2M class action lawyers still sending me emails) because they need more money to investigate and proceed with action against the companies. Class actions are too much to pursue and if the share holders had done their due diligence they would have sold out like me before they lost their investment. Unfortunately it’s a profession you have to put hours into every day

 

[Winenut]

I'm partially joking TC, let's just say I'll be glad to be rid of him because he's conservative and boring with no sense of humour. Not to say lack of liquidity isn't somewhat of an issue for both of us atm but he's just going to have to wait.
His distaste for any sort of risk is evident. I feel like a naughty school boy whenever I go in there with Mr Tubby judging me for my irresponsible financial behaviours.

Classic!

By their doctrine and learnings accountants are essentially required to be conservative

They don't all wear brown cardigans but use your accountant for his/her correct purpose.....pretty much what the Count was sayin'

Now if you want a dodgy accountant who really bends the rules and pushes the boundaries around that legislation and the standards and encourages you into all sorts of risky behaviours that have the capacity to really fuck up your financial shit well.....that could be fun too!

And the drugs will probably be better....

Not financial advice

 

[TheCount]

I've often wondered if there's decent tax benefits, without too much faf, in getting an ABN and claiming to be a "Professional Trader."
I did look into claiming home office space in this circumstance, but the rules are pretty crap trying to get that action, like I think you need a visible business sign outside you house.
Apart from claiming the odd computer and office chair, I don't think there's much in that.
Anyone got some real life experience doing this? Feel free to share.

Don't need bricks & mortar sign to be a business.

I won't divulge anything specific here because my situation is tightly managed by my Accountant, but you need to get your own good Accountant, and the ability to Invoice your Employer rather than being an employee. Trading then gives you an additional income stream for example. Bring a partner into the business and it gets better...

Then - you get to decide what costs the company pays or reimburses you - for example, YOU own the car and you need to be reimbursed for travel. You run a small office, so anything associated with that are paid for in pre-tax dollars, even a percentage of the interest on your Mortgage is deductible - but be careful of CGT should you sell the family home. If renting, then less problems.

There is more paperwork and just one spreadsheet. I'd spend about an hour a week and then one more hour per quarter dealing with BAS, STP and SGC obligations.

It can be done.

TC.

 

[TheCount]

Classic!

By their doctrine and learnings accountants are essentially required to be conservative

They don't all wear brown cardigans but use your accountant for his/her correct purpose.....pretty much what the Count was sayin'

Now if you want a dodgy accountant who really bends the rules and pushes the boundaries around that legislation and the standards and encourages you into also sorts of risky behaviours that have the capacity to really fuck up your financial shit well.....that could be fun too!

And the drugs will probably be better....

Not financial advice

View attachment 15900

Just visit the Courts ANY day of the week and you'll see them lined up in the docks. Plenty of R&D experts with Eastern Block surnames keen for your business!

TC.

 

[TheCount]

Classic!



They don't all wear brown cardigans but use your accountant for his/her correct purpose.....pretty much what the Count was sayin'

Exactly - some of them wear black capes.....
TC.

 

[Thaz]

maybe you could have a word to my accountant? I've told him it'll be fine but he ain't having a bar of it.

Mind you if I had have listened to that dick head I'd be down 8% instead of up 800%

I'm an accountant. Not sure why your accountant would be providing advice on investments if he isn't a registered financial advisor.

 

[Thaz]

Don't be afraid to ask CGT queries here too. @Thaz is a great resource and will gladly give you generic commentary.

Every shareholder should understand the basics of the tax implications of their investment - and take it as far as you are comfortable with... No harm in understanding the CURRENT treatment of income versus capital etc etc and throw in a few 'what-ifs' too..

Then work on "levelling-up" and learn to ask better questions of your Accountant!

TC.

Thanks for the kind words !

Happy to assist anyone with some generic advice.

I (personally) am not a registered tax agent so can't provide nor charge for advice.

 

[Winenut]

Been getting into the DRC Mining Cadastre Map Portal http://drclicences.cami.cd/EN/

I have taken a number of snap shots which I am dating and keeping

There are four main tenements of interest each with their own specific number

I'm just posting the four snaps I have logged and dated as at today

Not offering any interpretation of them but I want to start building up my own clearly understandable and chronological series of images to track any changes going forward

 

[MoneyBags1348]

Don't need bricks & mortar sign to be a business.

I won't divulge anything specific here because my situation is tightly managed by my Accountant, but you need to get your own good Accountant, and the ability to Invoice your Employer rather than being an employee. Trading then gives you an additional income stream for example. Bring a partner into the business and it gets better...

Then - you get to decide what costs the company pays or reimburses you - for example, YOU own the car and you need to be reimbursed for travel. You run a small office, so anything associated with that are paid for in pre-tax dollars, even a percentage of the interest on your Mortgage is deductible - but be careful of CGT should you sell the family home. If renting, then less problems.

There is more paperwork and just one spreadsheet. I'd spend about an hour a week and then one more hour per quarter dealing with BAS, STP and SGC obligations.

It can be done.

TC.

What about @JAG claiming entertainment expenses for luxury trips on yachts to exotic locations with swimsuit models…. By the way Count, you’re not changing me for that advice, you’ve already made $500 on this thread in the last hour

 

[Samus]

I'm an accountant. Not sure why your accountant would be providing advice on investments if he isn't a registered financial advisor.

Yes it shows, no sense of humor
Actually the firm offers taxation, accounting, business advisory etc.