Temasek selling Merrill Lynch at a loss
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ok so we agree that this pointless posting and replying stops here now?
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dear newcomer,
the winner is obvious la.
O o O o has once shown his stupidity again
... cannot prove me wrong say i empty vessel.Cannot prove FRS wrong, say FRS big deal...
If i am an empty vessel, I wonder why ML, CitiBanks, Barclays Capital are head-hunting for me...
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maybe because you're a talent?
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Originally posted by newcomer:
ok so we agree that this pointless posting and replying stops here now?
well, I will still continue to make full use of the fact that Gazelle likes very much to be the last poster of a thread to help him waste away more time
what else can explain that despite being banned multiple times, he sign up new accounts to waste time on the first 20 posts again and again?
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Originally posted by Uncertain:
dear newcomer,
the winner is obvious la.
O o O o has once shown his stupidity again
... cannot prove me wrong say i empty vessel.Cannot prove FRS wrong, say FRS big deal...
If i am an empty vessel, I wonder why ML, CitiBanks, Barclays Capital are head-hunting for me...
Uncertain, whoever headhuntered you is none of my businessUNCERTAIN,
See my commment in blue
Originally posted by Uncertain:a) Even taking into consideration of FRS 10.8, how can you justify to IRAS you need to pay 50% of the company's profit to someone who never exisit in your company during FY07? We are talking about a shareholder here, not some bad debts provision, WIP, stocks adjustment, assets reclassification etc.
You mean one cannot split his shares into various equal parts to his sons? wife? Even singapore television show got show father split his shares to his sons.Is there a need to justify to IRAS about the stock transfer? Got then show link.
If you have been reading with your eyes open, I am sure you wont be asking me such irrelevant question because I was never interest to know if you could split a sole proprietor company into partnerships with 10,000 shareholders and a zillion shares.
Since you claim to know so much about accounting and all that FRS, I am surprise that you are not aware the for a sole proprietor company IRAS doesnt tax your company's income but rather treat it as part of your personal income and is subject to the normal personal income tax (not corporate tax)
So my question to you again is, how can you justified to IRAS that you need to split your PERSONAL income (which is also your company income) with someone who never exist in your company in the last financial year?
b) How would you do your income tax filing since, for Sole proprietor, you can only file through your personal income tax returns, while for a partnership company you must file through a Company Income tax returns which will send to the company seperately at the end of first financial year?
Show me the link to substantiate your point that sole proprietor declare income tax via personal income tax and partnership declare income via company income tax.
WAH for someone who can come here to tell me what is post balance sheets event, FRS10.8 etc, still have the cheek to ask me for the link? And the best part here is that, he didnt even realised that I have already posted the damn link for him.
So I guess your early comment was nothing more than some big talking huh? Or are you thinking that you could simply come here and walk all over me?
I didn't jump into any conclusion. Open ur eyes big big and read what I comment. I merely doubt your sentence on "sole proprietorship switch to partnership" with FRS 10.8.
The only thing u can challenge me and any other forumers here is contradict FRS 10.8 principle which i use against u in the argument why one can evade tax liability by transfering shares.
How could you not be jumping into conclusion when you dont even know that filing of income tax return for sole proprietor and partnership companies are different, and when this is the main issue with Maurizio13 suggestion of switching the company to a partnership to take advantage the lower taxes? Are you trying to act like some HERO by talking about something that is not related to what we are talking about here?
Since you are insisting that Maurizio13 suggestion is technically and legally possible, why dont you go straight to the point of answering my questions and concern instead of trying to brag about your FRS 10.8
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can i be given the honour to be the judge of the outcome?
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Uncertain,
Will all the claims about your business law, NTU, Financial Reporting Standards, Headhunted by big bank etc.....I hope you are not going to quietly coward away without replying to my comments in blue.
a) Even taking into consideration of FRS 10.8, how can you justify to IRAS you need to pay 50% of the company's profit to someone who never exisit in your company during FY07? We are talking about a shareholder here, not some bad debts provision, WIP, stocks adjustment, assets reclassification etc.
You mean one cannot split his shares into various equal parts to his sons? wife? Even singapore television show got show father split his shares to his sons.Is there a need to justify to IRAS about the stock transfer? Got then show link.
If you have been reading with your eyes open, I am sure you wont be asking me such irrelevant question because I was never interest to know if you could split a sole proprietor company into partnerships with 10,000 shareholders and a zillion shares.
Since you claim to know so much about accounting and all that FRS, I am surprise that you are not aware the for a sole proprietor company IRAS doesnt tax your company's income but rather treat it as part of your personal income and is subject to the normal personal income tax (not corporate tax)
So my question to you again is, how can you justified to IRAS that you need to split your PERSONAL income (which is also your company income) with someone who never exist in your company in the last financial year?
b) How would you do your income tax filing since, for Sole proprietor, you can only file through your personal income tax returns, while for a partnership company you must file through a Company Income tax returns which will send to the company seperately at the end of first financial year?
Show me the link to substantiate your point that sole proprietor declare income tax via personal income tax and partnership declare income via company income tax.
WAH for someone who can come here to tell me what is post balance sheets event, FRS10.8 etc, still have the cheek to ask me for the link? And the best part here is that, he didnt even realised that I have already posted the damn link for him.
So I guess your early comment was nothing more than some big talking huh? Or are you thinking that you could simply come here and walk all over me?
I didn't jump into any conclusion. Open ur eyes big big and read what I comment. I merely doubt your sentence on "sole proprietorship switch to partnership" with FRS 10.8.
The only thing u can challenge me and any other forumers here is contradict FRS 10.8 principle which i use against u in the argument why one can evade tax liability by transfering shares.
How could you not be jumping into conclusion when you dont even know that filing of income tax return for sole proprietor and partnership companies are different, and when this is the main issue with Maurizio13 suggestion of switching the company to a partnership to take advantage the lower taxes? Are you trying to act like some HERO by talking about something that is not related to what we are talking about here?
Since you are insisting that Maurizio13 suggestion is technically and legally possible, why dont you go straight to the point of answering my questions and concern instead of trying to brag about your FRS 10.8
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Originally posted by O o O o:
Uncertain, whoever headhuntered you is none of my businessUNCERTAIN,
See my commment in blue
Hey selective reading disorder O o O o, i reply this portion of urs already. Still need me to repeat?U CLAIM IRAS NEEDS REASONS FOR STOCK SPLITS... GIVE ME EVIDENCE TO SUBSTANTIATE UR POINT.
This stage cannot pass, then dun bother disturbing me with the rest of ur nonsense.
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Originally posted by O o O o:
Uncertain,
Will all the claims about your business law, NTU, Financial Reporting Standards, Headhunted by big bank etc.....I hope you are not going to quietly coward away without replying to my comments in blue.
a) Even taking into consideration of FRS 10.8, how can you justify to IRAS you need to pay 50% of the company's profit to someone who never exisit in your company during FY07? We are talking about a shareholder here, not some bad debts provision, WIP, stocks adjustment, assets reclassification etc.
You mean one cannot split his shares into various equal parts to his sons? wife? Even singapore television show got show father split his shares to his sons.Is there a need to justify to IRAS about the stock transfer? Got then show link.
If you have been reading with your eyes open, I am sure you wont be asking me such irrelevant question because I was never interest to know if you could split a sole proprietor company into partnerships with 10,000 shareholders and a zillion shares.
Since you claim to know so much about accounting and all that FRS, I am surprise that you are not aware the for a sole proprietor company IRAS doesnt tax your company's income but rather treat it as part of your personal income and is subject to the normal personal income tax (not corporate tax)
So my question to you again is, how can you justified to IRAS that you need to split your PERSONAL income (which is also your company income) with someone who never exist in your company in the last financial year?
b) How would you do your income tax filing since, for Sole proprietor, you can only file through your personal income tax returns, while for a partnership company you must file through a Company Income tax returns which will send to the company seperately at the end of first financial year?
Show me the link to substantiate your point that sole proprietor declare income tax via personal income tax and partnership declare income via company income tax.
WAH for someone who can come here to tell me what is post balance sheets event, FRS10.8 etc, still have the cheek to ask me for the link? And the best part here is that, he didnt even realised that I have already posted the damn link for him.
So I guess your early comment was nothing more than some big talking huh? Or are you thinking that you could simply come here and walk all over me?
I didn't jump into any conclusion. Open ur eyes big big and read what I comment. I merely doubt your sentence on "sole proprietorship switch to partnership" with FRS 10.8.
The only thing u can challenge me and any other forumers here is contradict FRS 10.8 principle which i use against u in the argument why one can evade tax liability by transfering shares.
How could you not be jumping into conclusion when you dont even know that filing of income tax return for sole proprietor and partnership companies are different, and when this is the main issue with Maurizio13 suggestion of switching the company to a partnership to take advantage the lower taxes? Are you trying to act like some HERO by talking about something that is not related to what we are talking about here?
Since you are insisting that Maurizio13 suggestion is technically and legally possible, why dont you go straight to the point of answering my questions and concern instead of trying to brag about your FRS 10.8
I am a busy student with many things to attend to.
Not like u, so free can post so many challenges to forumers here.
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Originally posted by Uncertain:
Hey selective reading disorder O o O o, i reply this portion of urs already. Still need me to repeat?U CLAIM IRAS NEEDS REASONS FOR STOCK SPLITS... GIVE ME EVIDENCE TO SUBSTANTIATE UR POINT.
This stage cannot pass, then dun bother disturbing me with the rest of ur nonsense.
Uncertain,I am not going to waste too much of my time on meaningless arguement with you because you have the tendency of being uncertain about what you wrote and why you write them.
1) This is the statement from Maurizio13,
Ask this of you, a businessman with a chargeable income of $80,000 for year of assessment 2007 and tax charge of $4,300, decides to keep away from paying tax by giving his wife a 50% of his sole proprietorship company shares, thereby reducing their total tax payable from $4,300 to $1,800.
2) I was commenting that there is no such thing as sole proprietorship (SP) company SHARES because there is only ONE owner in a SP company.
I was also questioning his suggestion about how you could evade tax by bringing in a new shareholder by the end of the financial year (FY) to split your income because
a) For SP income, it is taken as personal income tax and you must report your company's profit through PERSONAL INCOME FILING.
b) Maurizio suggested that I am square and he can simply re-registered as partnership. And my question is, how can you split last year's income with a shareholder that NEVER existed in the company during last FY.
And then YOU (UNCERTAIN) came in and tell me a list of wondering suggestion about FRS 10.8, NTU, Business Law, Post Balance Event, headhunted, and even ask if I know that SP company do have balance sheet (as if someone was asking you about that)
So now my question to you is, how can you justify to IRAS to split 50% of the SP company's income (or Personal income since its a SP company) with someone who never existed in the company during that last financial year?
I shall also provide you the exact link to the article which stated clearly that for SP company you need to file your business income through your personal income tax form. (just in case you start to use this as an excuse to continue to glorify yourself and talking about unrelated topics)
http://www.iras.gov.sg/irasHome/page03.aspx?id=1514
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i saw the wall of text and i knew it had to be Gazelle.
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Originally posted by O o O o:
Uncertain,I am not going to waste too much of my time on meaningless arguement with you because you have the tendency of being uncertain about what you wrote and why you write them.
1) This is the statement from Maurizio13,
Ask this of you, a businessman with a chargeable income of $80,000 for year of assessment 2007 and tax charge of $4,300, decides to keep away from paying tax by giving his wife a 50% of his sole proprietorship company shares, thereby reducing their total tax payable from $4,300 to $1,800.
2) I was commenting that there is no such thing as sole proprietorship (SP) company SHARES because there is only ONE owner in a SP company.
I was also questioning his suggestion about how you could evade tax by bringing in a new shareholder by the end of the year to split your income because
a) For SP income, it is taken as personal income tax and you must report your company's profit through PERSONAL INCOME FILING.
b) Maurizio suggested that I am square and he can simply re-registered as partnership. And my question is, how can you split last year's income with a shareholder that NEVER existed in the company during last FY.
And then YOU (UNCERTAIN) came in and tell me a list of wondering suggestion about FRS 10.8, NTU, Business Law, Post Balance Event, headhunted, and even ask if I know that SP company do have balance sheet (as if someone was asking you about that) a
So now my question to you is, how can you justify to IRAS to split 50% of the SP company's income (or Personal income since its a SP company) with someone who never existed in the company during that last financial year?
I shall also provide you the exact link to the article which stated clearly that for SP company you need to file your business income through your personal income tax form. (just in case you start to use this as an excuse to continue to glorify yourself and talking about unrelated topics)
http://www.iras.gov.sg/irasHome/page03.aspx?id=1514
1) Did the text say when the ownership of the company was transferred? I already did the corrected version, but you persist in being stupid. -
Originally posted by Uncertain:
I am a busy student with many things to attend to.
Not like u, so free can post so many challenges to forumers here.
I hope this is not an excuse for being an coward -
Originally posted by maurizio13:
i saw the wall of text and i knew it had to be Gazelle.
When I see a one liner reply with a similey ,I knew it has to be one of the troll.
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This is what I meant, which you don't have the balls to give an answer to. Already said the structuring of the initial question was not correct for you level of intellect. The new shorter version is posted below in an earlier page. But still you do not have the intellect to change and still relied on an wrongly constructed post.
The general question (principle) was, can a husband give his wife half his company (assuming future profits is $80,000) so that he can reduce his marginal tax rate of 5.375% to marginal tax rate of 2.25% for his future tax assessment?
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Originally posted by maurizio13:
This is what I meant, which you don't have the balls to give an answer to. Already said the structuring of the initial question was not correct for you level of intellect. The new shorter version is posted below in an earlier page. But still you do not have the intellect to change and still relied on an wrongly constructed post.
The general question (principle) was, can a husband give his wife half his company (assuming future profits is $80,000) so that he can reduce his marginal tax rate of 5.375% to marginal tax rate of 2.25% for his future tax assessment?
We will go to that later. Lets give Uncertain a chance to explain.
And lets not forget that the sequence of events that happens here is important too.
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Originally posted by O o O o:
We will go to that later. Lets give Uncertain a chance to explain.
And lets not forget that the sequence of events that happens here is important too.
Ok.. O o O o apparently ur selective reading disorder has occurred again.This is your question right:
So now my question to you is, how can you justify to IRAS to split 50% of the SP company's income (or Personal income since its a SP company) with someone who never existed in the company during that last financial year?
So my ans is:
U CLAIM IRAS NEEDS REASONS FOR STOCK SPLITS... GIVE ME EVIDENCE TO SUBSTANTIATE UR POINT.
Sorry hor, I won't stand by my com every sec for ur reply ok, I got things to do... so dun quote people "Coward" when they dun bother to pay attention to ur nonsense.
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Originally posted by Uncertain:
Ok.. O o O o apparently ur selective reading disorder has occurred again.This is your question right:
So now my question to you is, how can you justify to IRAS to split 50% of the SP company's income (or Personal income since its a SP company) with someone who never existed in the company during that last financial year?
So my ans is:
U CLAIM IRAS NEEDS REASONS FOR STOCK SPLITS... GIVE ME EVIDENCE TO SUBSTANTIATE UR POINT.
Sorry hor, I won't stand by my com every sec for ur reply ok, I got things to do... so dun quote people "Coward" when they dun bother to pay attention to ur nonsense.
Since when stock split and stock transfer need approval from IRAS?I wonder if OoOo is busy googling for the answer now.
Gazelle substantiate your claim.
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Originally posted by maurizio13:
Since when stock split and stock transfer need approval from IRAS?I wonder if OoOo is busy googling for the answer now.
Gazelle substantiate your claim.
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Originally posted by Uncertain:
He definitely 100% won't be able to answer you this question. -
Originally posted by Uncertain:
Ok.. O o O o apparently ur selective reading disorder has occurred again.This is your question right:
So now my question to you is, how can you justify to IRAS to split 50% of the SP company's income (or Personal income since its a SP company) with someone who never existed in the company during that last financial year?
So my ans is:
U CLAIM IRAS NEEDS REASONS FOR STOCK SPLITS... GIVE ME EVIDENCE TO SUBSTANTIATE UR POINT.
Sorry hor, I won't stand by my com every sec for ur reply ok, I got things to do... so dun quote people "Coward" when they dun bother to pay attention to ur nonsense.
Uncertain,
1) After all that talk about FRS 10.8 I am surprise that you didnt even use that to justify your arguement because isnt that the first TOOL you pull out from to impress us?
2) So now my question to you is, how can you justify to IRAS to split 50% of the SP company's income (or Personal income since its a SP company) with someone who never existed in the company during that last financial year?
As you can see, after realising that he has no FACTS to support what is said, he is now using what I call selective reading technique to create something out of nothing. Isnt it obvious that my statement about is talking about splitting 50% of INCOME and not splitting shares.
And guess what, he is now using the word STOCK, as if the Sole Proprietor company has transform to be a public listed company....Kekeke..
If you are color blind and you cant read text written in black, then I will forgive you for sprouting so much nonsense. However if you are doing this hoping that we are blind, then I must say that you are really pathatic.
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Originally posted by maurizio13:
He definitely 100% won't be able to answer you this question.Haha.... maurizio13. Let's not be too over-confident, let O o O o aka gazelle prove me wrong with facts.
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Originally posted by O o O o:
Uncertain,
1) After all that talk about FRS 10.8 I am surprise that you didnt even use that to justify your arguement because isnt that the first TOOL you pull out from to impress us?
2) So now my question to you is, how can you justify to IRAS to split 50% of the SP company's income (or Personal income since its a SP company) with someone who never existed in the company during that last financial year?
As you can see, after realising that he has no FACTS to support what is said, he is now using what I call selective reading technique to create something out of nothing. Isnt it obvious that my statement about is talking about splitting 50% of INCOME and not splitting shares.
And guess what, he is now using the word STOCK, as if the Sole Proprietor company has transform to be a public listed company....Kekeke..
If you are color blind and you cant read text written in black, then I will forgive you for sprouting so much nonsense. However if you are doing this hoping that we are blind, then I must say that you are really pathatic.
Actually the use of sole proprietor and company is already an error, I explained to you the error of my structuring the question, yet you persist in relying on old information to justify a lost argument.How pathetic can one get?
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Now Gazelle is saying sole proprietor cannot convert to company?
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Gazelle reminds me of Baldrick from Blackadder.