BRN Discussion Ongoing

[Deena]

Yes I held your view as did my accountant until this past week. I have been too busy with some other things to do my own deep dive as I will in the next few weeks. I would love my accountant to be wrong but even so 15% and 10% capital gains still makes it very attractive.

Look forward to hearing what you find.

FF

AKIDA BALLISTA

OK. This is what I have so far. I have gone to the latest iteration of the Macquarie Bank Little Black Book (for Financial Advisers) under the heading Superannuation - pension phase. Macquarie are very prompt in updating this publication if the legislation changes.

Heading - TRANSFER BALANCE CAP

Impact of earnings - Earnings subsequently accrued on amounts in retirement phase are NOT counted towards transfer balance cap.

Treatment of Excess

• If transfer balance account exceeds cap, excess amount plus earnings must be moved back to accumulation of withdrawn as a lump sum
• Earnings taxed at 15% for all breaches in 2017/18. From 2018/19, earnings taxed at 15% for first breaches and 30% for second and subsequent breaches
• Excess transfer balance tax levied on individual, not super fund

Comments by Deena - My interpretation is that the important factor is the amount that is transferred to the pension phase which can be up to the transfer balance cap. Note that earnings subsequently accrued in the retirement phase are not counted towards this cap. The treatment of excess refers to the excess if you have put more than you should have as allowed by the cap. So the earnings taking you above the cap are not counted once you have moved to retirement phase provided you have not overstepped the cap when setting it up.

This makes common sense also. Imagine you are invested in a speculative share (clearly not Brainchip), and it goes up in price such that you exceed the cap. You are 'penalised' and then the share price drops again to below the cap. This would be a double whammy and not a very practical outcome. Rioting in the streets comes to mind. Note that I have not reproduced the whole of the available information, only that which is relevant.

Cheers, Deena

 

[JK200SX]

Love it when people are worried having more than the 1.7/3.4 million cap in super

There's some pretty knowledgeable people on the PropertyChat forums who know are fair bit about this stuff.

PropertyChat :: Australian Property Investment Forums

Australia's most respected independent Property Investment discussion forum

www.propertychat.com.au

 

[Deena]

Love it when people are worried having more than the 1.7/3.4 million cap in super

I never thought that we'd be in that position, but Brainchip has made all that possible. We'll be testing that concept at the end of this financial year. And it doesn't seem that long ago that we scraped together $150,000 to start up our SMSF. I'm super glad we didn't stay in our old fund as the SMSF has made it all possible.
Note this is NOT financial advice. Everyone should seek professional advice based on their own individual circumstances.
GLTAH

 

[TasTroy77]

Hi Tas. No left KRR on one one of the highs some time back and dropped the options early this year. Better areas to put money into such as ..........

BRN. lol

But this is also my feeling about most ASX stocks currently..............

Yak52

I sold out too

 

[Deleted member 118]

Anyone else remember that in the Rob Telson Brainchip podcast with Edge Impulse they discussed Edge Impulse being engaged in similar projects.

My memory was they mentioned a global tech company being involved but it is awhile ago and so much has happened since.

My opinion only DYOR
FF

AKIDA BALLISTA

I can’t even remember what I had for breakfast

 

[Fact Finder]

OK. This is what I have so far. I have gone to the latest iteration of the Macquarie Bank Little Black Book (for Financial Advisers) under the heading Superannuation - pension phase. Macquarie are very prompt in updating this publication if the legislation changes.

Heading - TRANSFER BALANCE CAP

Impact of earnings - Earnings subsequently accrued on amounts in retirement phase are NOT counted towards transfer balance cap.

Treatment of Excess

• If transfer balance account exceeds cap, excess amount plus earnings must be moved back to accumulation of withdrawn as a lump sum
• Earnings taxed at 15% for all breaches in 2017/18. From 2018/19, earnings taxed at 15% for first breaches and 30% for second and subsequent breaches
• Excess transfer balance tax levied on individual, not super fund

Comments by Deena - My interpretation is that the important factor is the amount that is transferred to the pension phase which can be up to the transfer balance cap. Note that earnings subsequently accrued in the retirement phase are not counted towards this cap. The treatment of excess refers to the excess if you have put more than you should have as allowed by the cap. So the earnings taking you above the cap are not counted once you have moved to retirement phase provided you have not overstepped the cap when setting it up.

This makes common sense also. Imagine you are invested in a speculative share (clearly not Brainchip), and it goes up in price such that you exceed the cap. You are 'penalised' and then the share price drops again to below the cap. This would be a double whammy and not a very practical outcome. Rioting in the streets comes to mind. Note that I have not reproduced the whole of the available information, only that which is relevant.

Cheers, Deena

The reason I was discussing this with my accountant was because he was ringing around all his clients to update them. He was not looking forward to making the calls.

He knows I am relaxed about these things and never blame him for the way the ATO or Government administer the system. I was his first call. LOL

I will try and find time to ring him and get the ATO reference which he read from in our conversation.

The reality is until you sell BRN you will not crystallise a capital gain and so it will only start to kick in when and if BRN starts paying dividends.

A problem could occur if you need to sell to satisfy your age based minimum draw down requirements.

I personally have never had a problem with paying tax it is actually a privilege of wealth.

My opinion only DYOR
FF

AKIDA BALLISTA

 

[Fact Finder]

I can’t even remember what I had for breakfast

That’s easy you had Weetbix.

Any other questions?
FF

 

[thelittleshort]

SiConsult! A very good business connection. Think of how many business cases can come from these minds.

Advanced Engineering Solutions - Si

Si specialises in Advanced Engineering Solution which includes Security Consulting, Enterprise IT Consulting and Building Technology Services.

www.siconsult.com

@TheUnfairAdvantage I had not heard of SiConsult but have since looked into them

They are into security/surveillance. Luckily BrainChip have this covered too - see below

Maybe Sébastien has let us in on another potential customer/partner in SiConsult?

Artificial intelligence firm Brainchip wins casino and anti-terrorist deals​

BrainChip Studio and Accelerator Highlight Artificial Intelligence for Forensic Object Search and Facial Classification 04.03.2018​

StackPath

 

[TheUnfairAdvantage]

So the car is an old version VW being put together by KUKA in the photo on our website

Kuka robots car hi-res stock photography and images - Alamy

Find the perfect kuka robots car stock photo, image, vector, illustration or 360 image. Available for both RF and RM licensing.

www.alamy.com

Unsure of the relevance but for what it is worth, the car is either a Porsche Macan or Porsche Cayenne

 

[Deena]

The reason I was discussing this with my accountant was because he was ringing around all his clients to update them. He was not looking forward to making the calls.

He knows I am relaxed about these things and never blame him for the way the ATO or Government administer the system. I was his first call. LOL

I will try and find time to ring him and get the ATO reference which he read from in our conversation.

The reality is until you sell BRN you will not crystallise a capital gain and so it will only start to kick in when and if BRN starts paying dividends.

A problem could occur if you need to sell to satisfy your age based minimum draw down requirements.

I personally have never had a problem with paying tax it is actually a privilege of wealth.

My opinion only DYOR
FF

AKIDA BALLISTA

I would be very interested in the ATO reference as I have not been able to find anything supporting that view. Thank you for the heads up on that.
Cheers

 

[Fact Finder]

Exciting technology with incredible scope to benefit humanity even if Brainchip is not involved:

Google's life-changing AR smart glasses demo gave me shivers | Digital Trends

Google showed a pair of prototype smart glasses at the end of the I/O 2022 keynote, and demonstrated how this amazing technology could change lives.

www.digitaltrends.com

My opinion only DYOR
FF

AKIDA BALLISTA

 

[Diogenese]

@TheUnfairAdvantage I had not heard of SiConsult but have since looked into them

They are into security/surveillance. Luckily BrainChip have this covered too - see below

Maybe Sébastien has let us in on another potential customer/partner in SiConsult?

View attachment 6667

View attachment 6663

View attachment 6666

View attachment 6664
View attachment 6665

Artificial intelligence firm Brainchip wins casino and anti-terrorist deals​

BrainChip Studio and Accelerator Highlight Artificial Intelligence for Forensic Object Search and Facial Classification 04.03.2018​

StackPath

Hi tls,

The ogres have taken a vote on this and decided to abstain. Even though BrainChip Studio was put on the backburner some years ago, it is still probably the most efficient image recognition software available.

It also the quickest way to implement Brainchip's SNN image classification capability without the need to jettison an existing hardware security system.

The counter argument is that Brainchip does not currently list Studio as an available product, so, while the evidence may not reach the "reasonable doubt" standard, "the balance of probabilities" can't exclude the possibility.

PS: There is also MetaTF/ADE which should be added to the balance.

 

[Terroni2105]

Possible different application avenue? Or maybe just a side project for the R&D team? I like the objectives



reducing the risk of collisions with large ungulates (deer, roe deer, wild boar) on road and rail transport infrastructure

the evaluation of biodiversity conservation systems in agricultural environments (hedge networks, etc.)

Sébastien Crouzet posted on LinkedIn

Sébastien Crouzet posted images on LinkedIn

www.linkedin.com

View attachment 6648

View attachment 6649


AIoT for biodiversity

How to combine artificial intelligence (#IA) and the Internet of Things (#IoT) for the benefit of #biodiversité? This is the challenge we are tackling alongside two other companies and three French #recherche institutes, by starting an R&D project called Psi-Biom ("Platform #numérique of integrated services for the monitoring of biodiversity by connected objects and modeling").

This project benefits from state funding as part of the Investments for the Future.

One of psi-Biom's objectives is to design a technological chain called #AIoT ("Artificial intelligence of things", a combination of artificial intelligence and the Internet of Things) for the monitoring of animal species. It aims to combine the use of #capteurs arranged in nature, capable of collecting photographic and sound data on the presence of #animaux, and the use of AI for the analysis of this data, including the automatic identification of #espèces.

The #technologies developed as part of the Psi-Biom project will enable all actors involved in biodiversity management to better size their actions and monitor their real effectiveness over time. This concerns in particular local authorities, ecological engineering design offices, infrastructure managers, spatial planning operators, or managers of natural areas.

During its implementation, the project will focus particularly on two types of applications:

reducing the risk of collisions with large ungulates (deer, roe deer, wild boar) on road and rail transport infrastructure

the evaluation of biodiversity conservation systems in agricultural environments (hedge networks, etc.)

Our partners in this project are specialized in the design of communicating sensors (BrainChip, SiConsult ), #écologie (Functional Ecology and Environment Laboratory - LEFE), communication systems and data collection (IRIT (Institut de Recherche en Informatique de Toulouse) ), and artificial intelligence (Computer Science and Systems Laboratory - LIS).

The name TerrOiko is the name of a company not an individual person.
Hence, this company TerrOiko is saying Brainchip is their partner (though I think more beneficial AI rather than a revenue raiser). One to add to the list @Fact Finder and the iceberg @BaconLover

Terroiko is located in France and there is an option to translate their website to English.

TerrOïko | Qui sommes-nous ?

Nous sommes convaincus que la gestion et la préservation de la biodiversité doivent s'appuyer sur les outils technologiques du XXIe siècle.

www.terroiko.fr

 

[Bravo]

The name TerrOiko is the name of a company not an individual person.
Hence, this company TerrOiko is saying Brainchip is their partner. One to add to the list @Fact Finder and @MC🐠

Terroiko is located in France and there is an option to translate their website to English.

TerrOïko | Qui sommes-nous ?

Nous sommes convaincus que la gestion et la préservation de la biodiversité doivent s'appuyer sur les outils technologiques du XXIe siècle.

www.terroiko.fr

I thought it was the name of a marinade which is excellent for grilling steak, chicken or pork tenderloin.

 

[Izzzzzzzzzzy]

Speculation from facebook

 

[Terroni2105]

Speculation from facebook

aw they're slow, it was on TSE first

 

[Jimmy17]

Has anybody investigated " Tiliter Retail" providing Woolworths with AI scales at the checkout? On the Website it lists Nvidia, also claims Inference at the edge in technical data sheet. I saw what appeared to be a recent news article about new cameras with AI imbedded sensors being rolled out in 600+ Woollies stores.

 

[Izzzzzzzzzzy]

aw they're slow, it was on TSE first

Probably got it from TSE then

 

[Dang Son]

Yes I held your view as did my accountant until this past week. I have been too busy with some other things to do my own deep dive as I will in the next few weeks. I would love my accountant to be wrong but even so 15% and 10% capital gains still makes it very attractive.

Look forward to hearing what you find.

FF

AKIDA BALLISTA

Hi FF
My accountant advised me that the 100k yearly super contribution was raised by 10k this year to 110k P/A
and I can use the 3yr bring forward rule to contribute 330k this FY.
I'd like to put more BRN over to my super and pension as a self funded retiree and a bit confused by mention of $1.7m max, do you happen to know if possible to play catch up and load up to max at the late stage of age 60 plus?
Kind Regards, DS

 

[Deena]

Hi FF
My accountant advised me that the 100k yearly super contribution was raised by 10k this year to 110k P/A
and I can use the 3yr bring forward rule to contribute 330k this FY.
I'd like to put more BRN over to my super and pension as a self funded retiree and a bit confused by mention of $1.7m max, do you happen to know if possible to play catch up and load up to max at the late stage of age 60 plus?
Kind Regards, DS

Hi Dang Son
I may be able to help a little as well as provide another possible strategy. Are you saying that the $1.7 million transfer balance cap may be a problem for you in which case my information may not be as useful.
Firstly you can have more than $1.7 million in superannuation, you just can't transfer more than the $1.7 million transfer balance cap to the tax free pension phase.

If you want to and are able to put more than $330,000 to super as a non-concessional contribution, what you can do is only transfer $110,000 before the 30th of June this year, then transfer an additional $330,000 in July, thereby enabling a total of $440,000 non-concessional contribution by the end of July this year. Things to watch, however is that you are not contributing any more non-concessional through a salary sacrifice or some other means, otherwise you will go over the cap. Also remember the limits for concessional contributions (currently $27,500 p.a.) and remember this includes any employer mandated amounts. Probably best you seek professional advice.

I hope this helps as a starting point for a discussion with a professional in this area.
Deena