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Comment Re:Good for them (Score 1) 158

Up until about a decade or so ago in Australia, some clever private individuals established companies and worked their 9 - 5 job through the company, enjoying much lower tax rates and other such benefits of corporate law (shifting losses to other years, etc).

The Australian Tax Office stepped-in and declared if you look like a private individual, walk like a private individual and quack like a private individual ... you're a private individual and will pay tax at the appropriate rate. You'll also receive a fine for trying to be clever.

This isn't the way I remember it - unless we're remembering different things. From what I recall, companies were forcing their employees to get a business number, and hiring them as contractors so as to avoid paying for entitlements like superannuation, holidays, etc. The Fair Work Ombudsman slapped them down.

In any case, you'll pay more tax as a company than you will as an individual - you will pay corporate tax on your company's profits, and then personal income tax in all money that you receive from your company. If you spend corporate money as if it was your own to dodge tax, then ASIC will want to have a long, hard talk with you, regardless of what the ATO does.

Comment Re:Simple fix (Score 1) 158

Then you'll drive every retail industry into the ground.

Say I'm an electronics store. I operate on a profit margin of about 2%, because there's really not that much margin in electronics (or most retail, except the high end). I buy $100,000 worth of stock. I sell that entire volume for $102,000, making myself $2000 profit. I then receive a tax bill based off my revenue of $100,000, instead of my actual income of $2,000.

Comment Re:If they're going literal.... (Score 4, Funny) 251

It's not vague, it's inclusive.

Same thing. It's inclusive, by being vague.

They meant to criminalize the destruction of evidence in federal criminal investigations and that's what they did.

Yes, I'm sure that when they sat down to formulate legislative regulations on corporate finance records, they thoroughly intended that it be used for punishing fishermen who caught undersized fish.

Comment Conflict of interest much? (Score 1) 331

But not everyone is convinced the rules go far enough. "The rule is far too weak to address the grave misconduct of predatory for-profit colleges," writes David Halperin.

Says the man who works at a public college teaching English, women’s studies, comparative literature, and classical studies - fields noted for the career prospects of their graduates.

David Halperin

Comment Re: The US tech industry (Score 3, Informative) 283

MP3 players existed before the iPod
Smartphones existed before the iPhone
Tablets existed before the iPad
Smartwatches exist, and the iWatch doesn't

Apple doesn't create new categories; they polish and popularise them - sort of the way Blizzard has done with the RTS, action-RPG, and MMO genres in gaming.

Comment Re:please no (Score 1) 423

Consider, I'm going to roll a 6 sided dice. What number am I going to roll?

The whole of climate science and meteorology is predicated on the fact that those systems are not random. Yeah, the more iterations of a random event, the closer you get to the statistical average. But that doesn't mean that the more variables you add to a system, the more it converges on a predictable single value.

I'm not sure I'm going to agree with this statement however. Is an apple a simpler fruit than an orange?

Is an orange the aggregate of millions of apples over a long period of time?

Comment Re:please no (Score 1) 423

However, while I'm sure that both 'sides' in this debate are equally guilty of seeing what they want to see, that which confirms their observer bias, I'm not sure that ridiculing weather forecasts is a valid argument against the accuracy and predictive power (or lack thereof) of climate models.

Really? Weather is a simpler, shorter-term analysis than climate, pretty much by definition. If we can't perform the simpler task particularly well, it argues against us being able to do the more complex.

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