The totally off-topic thread

[SeatBackForward]

And another call out for some advise...My current employer charges my time and services out within our organisation, as an internal consultancy role. The rate my employer charges for this, is by my calculations, about 110% more than what I what I receive in my TFR. By way of example, they charge $105 when my hourly pay works out to be about $50. I understand that running a business means there are indirect and overhead costs that need to be removed from that..but 110% seems a bit rich.

Should I a) ask for a pay rise! or b) offer to get paid directly as a contractor for slightly less than they are being charged at the moment?

 

[medhead]

Brilliant. Phone call from a close family member about the settling of the estate of another close family member. Latest news is that $X of tax is owed on shares. X being more than the value of the shares in the estate and something like 20% of the value of the total estate.

But as usual less than half the information is being provided. Something about not putting in earnings from the shares to income tax return. How the hell is it possible the ATO didn't pick that up with data matching? But the deceased has been a retired person for at least 15 years, so what about franking credits during that time and their low income status. It doesn't seem to me that can be included in the lawyers calculation.

Or is it capital gains tax. ATO website is silent about the CGT treatment on death for shares - is it an event, is the cost based rolled over or set at the current value. As for the lack of information. All this is coming third hand from someone who is not allowed to know all the details; obviously I haven't been told anything officially and am not allowed to know anything about it. Therefore, I get to suffer a dodgy sounding number for a dodgy sounding reason, without being able to question it.

Argh!

 

[Pushka]

And another call out for some advise...My current employer charges my time and services out within our organisation, as an internal consultancy role. The rate my employer charges for this, is by my calculations, about 110% more than what I what I receive in my TFR. By way of example, they charge $105 when my hourly pay works out to be about $50. I understand that running a business means there are indirect and overhead costs that need to be removed from that..but 110% seems a bit rich.

Should I a) ask for a pay rise! or b) offer to get paid directly as a contractor for slightly less than they are being charged at the moment?

Usually the business would expect to charge at least double. If you are paid $100,000 then you would be expected to bring in $200,000 business. That is a minimum. There are so many costs that businesses have to pay additional to a salary. But these are hidden to employees and they remain blissfully unaware. Rent, power, payroll tax, Software licenses, ESL, accounting fees, equipment, leases and loans, Superannuation, Workcover, provision for annual leave and sick leave and long service leave, provision for bad debts, credit card fees, etc etc. And then there is the payroll of those people in the business who do not bring in the money as part of their job - eg HR, Sales processing, Receptionists and the like.

get the picture?

 

[RAM]

And another call out for some advise...My current employer charges my time and services out within our organisation, as an internal consultancy role. The rate my employer charges for this, is by my calculations, about 110% more than what I what I receive in my TFR. By way of example, they charge $105 when my hourly pay works out to be about $50. I understand that running a business means there are indirect and overhead costs that need to be removed from that..but 110% seems a bit rich.

Should I a) ask for a pay rise! or b) offer to get paid directly as a contractor for slightly less than they are being charged at the moment?

Sounds like a value for money employer.

A certain globally known consultant charged 3.5x pay rate for no-previous experience graduates to clients on a job I got a 'find the mistake' consultantcy. For 1 year of experience it was 3.3x their pre-tax pay rate.

I sure under quoted on that one by comparison. Found the mistake - one systems analyst had a bad habit of talking to friends on the phone and tapping the keyboard. That habit ended up costing north of $200mn btw.

 

[RAM]

Brilliant. Phone call from a close family member about the settling of the estate of another close family member. Latest news is that $X of tax is owed on shares. X being more than the value of the shares in the estate and something like 20% of the value of the total estate.

But as usual less than half the information is being provided. Something about not putting in earnings from the shares to income tax return. How the hell is it possible the ATO didn't pick that up with data matching? But the deceased has been a retired person for at least 15 years, so what about franking credits during that time and their low income status. It doesn't seem to me that can be included in the lawyers calculation.

Or is it capital gains tax. ATO website is silent about the CGT treatment on death for shares - is it an event, is the cost based rolled over or set at the current value. As for the lack of information. All this is coming third hand from someone who is not allowed to know all the details; obviously I haven't been told anything officially and am not allowed to know anything about it. Therefore, I get to suffer a dodgy sounding number for a dodgy sounding reason, without being able to question it.

Argh!

1) Was deceased well-off? Not getting any Govt welfare?
2) Were they geared against shares?
3) Were the shares managed on a LIFO basis for tax?
4) Details matter - ask for estate accountant/tax advisor contact details.

 

[bismarck]

Sounds like a value for money employer.

A certain globally known consultant charged 3.5x pay rate for no-previous experience graduates to clients on a job I got a 'find the mistake' consultantcy. For 1 year of experience it was 3.3x their pre-tax pay rate.

I sure under quoted on that one by comparison. Found the mistake - one systems analyst had a bad habit of talking to friends on the phone and tapping the keyboard. That habit ended up costing north of $200mn btw.

Sounds about right, if not higher.

 

[RAM]

Re: The totally off-topic thread - Hope you are not feeling hungry

Wonder how Emirates gets the butter into those rolls?

How Do They Make Airplane Food? Emirates Flight Catering and Emirates A380 Business Class Review | Grab Your Fork: A Sydney food blog

Speed buttering with gloves

How do you butter thousands of bread rolls with maximum efficiency? This guy just uses gloved fingers to dip and spread butter during his shift. He moves like lightning.

Hope he takes them off before he leaves the line for breaks and cuts his finger nails regularly. Now you know what you're getting of Q from Dubai.

(refer Ebola thread http://www.australianfrequentflyer.com.au/community/open-discussion/the-ebola-virus-61930-9.html )

 

[RAM]

We're also surprised to learn that Economy has a meal load of 100%. That means no extra meals of any kind which would explain why you sometimes miss out on the chicken or beef. Business class is loaded with 120% and First Class is loaded at 150%.

Emirates Flight Catering facilities are also responsible for the food in the Business Class and First Class lounges at the airport.

 

[medhead]

1) Was deceased well-off? Not getting any Govt welfare?
2) Were they geared against shares?
3) Were the shares managed on a LIFO basis for tax?
4) Details matter - ask for estate accountant/tax advisor contact details.

Not sure, could guess. But as I'm not a beneficiary it is none of my business unless I get asked.

Guess I was surprised by the lack of apparent info about CGT on the ATO website, usually it's pretty good.

 

[burrco]

Not sure, could guess. But as I'm not a beneficiary it is none of my business unless I get asked.

Guess I was surprised by the lack of apparent info about CGT on the ATO website, usually it's pretty good.

Did you look at : https://www.ato.gov.au/Individuals/...tax_on_assets_acquired_from_a_deceased_estate

Basically - if pre CGT shares cost base is value at date of death, if not the original purchase price is used.

 

[medhead]

Did you look at : https://www.ato.gov.au/Individuals/...tax_on_assets_acquired_from_a_deceased_estate

Basically - if pre CGT shares cost base is value at date of death, if not the original purchase price is used.

Thanks. Clears it up. I wasn't sure if inheriting was an CGT event. Based on that it isn't, but sale would be if paying the beneficiaries cash.

 

[TomVexille]

Blinky, what was he doing still asleep at 6:50am - so Gen Y....

That's actually a good point. I need to be out the door by then.

 

[penegal]

I resemble that remark!

You mean you haven't made it home from the pub yet?

 

[penegal]

As for Gen Y... Well, I had been in the car en route to work for 20 minutes at 6:50am this morning.



.

 

[hummel]

I am Gen Y and there is nothing better than getting up and going in the morning... but understand that many others struggle.

My wife often asks me why I leave the house 60min before work when it's only a 6min drive. I explain to her I'll get in trouble if I make too much noise.. can make all the noise I want at work.

 

[TomVexille]

I am Gen Y and there is nothing better than getting up and going in the morning... but understand that many others struggle.

My wife often asks me why I leave the house 60min before work when it's only a 6min drive. I explain to her I'll get in trouble if I make too much noise.. can make all the noise I want at work.

Much easier to have my breakfast at work if I can.

As for Gen Y... Well, I had been in the car en route to work for 20 minutes at 6:50am this morning.

Most of Gen Y would have no idea what a 5am start is either.

 

[Buzzard]

Many, many years ago when I worked in the transport industry, my earliest start was 4.00am.
It was like the middle of the night when I used to wake up to go to work :shock:

One thing funny that I remember is buying lunch around 8am. The regular office workers would be bleary eyed buying a coffee whilst I would be perky and buying up Used to get some funny looks.

 

[straitman]

Don't ring me at 6:50 as my phone will be on silent :!:

Then again I used to get to work at about 6:50 for a 7:30 takeoff.

 

[anat0l]

I'm probably border Gen Y but a haphazard life of research has not been kind to my embracing early starts.

Over here the situation is different, but even here we can arrive between 8am and 9am for work so long as we still fill out a 41 hour week.

Getting up early for the purposes of catching a flight...that's a given and I have little problems with that.

 

[Princess Fiona]

Wish this had been around when I was a kid
http://m.edinburghnews.scotsman.com...mpaign-to-help-stop-ginger-bullying-1-3536869