WC 1M Post Challenge - You Ready?!

[N_LaRUE]

Re: WPC 10K Post Challenge - You Ready?!

How much %age per year does the bank give in UK?

Over here 10-11.50%, depending where you invest.
$100 invested today would be $110-$111.50 next year
Am keen to know because am in Finances.

Here in the UK things are a bit different. I'm still trying to sort it out. We appear to have a special 'savings' account where you can get annual interest whereas your regular account doesn't accrue interest. There's also tax implications on savings accounts.

Easiest thing to do would be to look into it yourself.

 

[montsa007]

Re: WPC 10K Post Challenge - You Ready?!

Not sure - but being a millionaire im sure I could find a nice Swiss bank account to put the money into that produced enough interest to live off.

Going on 10% your still talking 100K a year tax free on 1 million which is more than enough to live off with no mortgage. 2mill would obviously make it a lot better with 200K a year

If you lived here, you'd be taxed @ 30% (add 3% as cess) + an additional 10% on that amount. (We have tax slabs here, you'd fall in the last slab)

So if you make 1 million (USD, not our local currency), you will be paying,
(300,000 +9,000) + 30,900 = 339,900 in taxes left with 660,100

 

[martinmc78]

Re: WPC 10K Post Challenge - You Ready?!

I was trying to be PC but yes you are correct, along with all the other superstitions.

Everythings too PC nowadays. Everyones got far too sensitive and fluffy.

In my opinion if you cant take criticism then you shouldn't dish it out.

 

[martinmc78]

Re: WPC 10K Post Challenge - You Ready?!

If you lived here, you'd be taxed @ 30% (add 3% as cess) + an additional 10% on that amount. (We have tax slabs here, you'd fall in the last slab)

So if you make 1 million (USD, not our local currency), you will be paying,
(300,000 +9,000) + 30,900 = 339,900 in taxes left with 660,100

That would apply here too on earnings - but im never going to earn that much doing what I do so the only way would be a lottery win - winnings from gambling don't get covered by tax.

 

[montsa007]

Re: WPC 10K Post Challenge - You Ready?!

That would apply here too on earnings - but im never going to earn that much doing what I do so the only way would be a lottery win - winnings from gambling don't get covered by tax.

Weird, we get taxed flat 33% on gambling, no matter how much you earn.
Isn't UK suffering financially, i mean struggling with its finances?

 

[Chregu]

Re: WPC 10K Post Challenge - You Ready?!

Not sure - but being a millionaire im sure I could find a nice Swiss bank account to put the money into that produced enough interest to live off.

Going on 10% your still talking 100K a year tax free on 1 million which is more than enough to live off with no mortgage. 2mill would obviously make it a lot better with 200K a year

You shouldn't use Swiss banks for this anymore. The USA is currently milking our banks and they, together with the EU, gain more and more insights into their business. ;-)

 

[duncanjameshill]

Re: WPC 1000 Post Challenge - You Ready?!

I've spent the morning making this when I should have been designing software for an anaerobic digestion plant.

 

[martinmc78]

Re: WPC 10K Post Challenge - You Ready?!

Weird, we get taxed flat 33% on gambling, no matter how much you earn.
Isn't UK suffering financially, i mean struggling with its finances?

Every country is struggling financially - tax on gambling got abolished a while ago in the UK - I know in some countries the rate on gambling tax is over 50% - remember seeing someone winning $7million in the world series of poker but was then complaining how he would get taxed 60% on his winnings when he re-entered his country.

 

[martinmc78]

Re: WPC 10K Post Challenge - You Ready?!

You shouldn't use Swiss banks for this anymore. The USA is currently milking our banks and they, together with the EU, gain more and more insights into their business. ;-)

Fair enough - Gibraltar it is then for my winnings (when I get them)

 

[montsa007]

Re: WPC 10K Post Challenge - You Ready?!

Every country is struggling financially - tax on gambling got abolished a while ago in the UK - I know in some countries the rate on gambling tax is over 50% - remember seeing someone winning $7million in the world series of poker but was then complaining how he would get taxed 60% on his winnings when he re-entered his country.

I wonder if the government wants tax on my carp, I'd be more than happy to give them 99% , freshly delivered hah

 

[Chregu]

Re: WPC 1000 Post Challenge - You Ready?!

I've spent the morning making this when I should have been designing software for an anaerobic digestion plant.

Sounds interesting. What kind of plant will it be?

...well, it sounds interesting to me, for you it doesn't seem to be very interesting, as you prefer to make some... thing.

 

[duncanjameshill]

Re: WPC 1000 Post Challenge - You Ready?!

Basically, it will take manure and silage, syphon of the methane and use it to run a generator. The plant will, not the....thing. :wink:

 

[Chregu]

Re: WPC 1000 Post Challenge - You Ready?!

Basically, it will take manure and silage, syphon of the methane and use it to run a generator. The plant will, not the....thing. :wink:

This might be a stupid question, is this used to power a farm?

 

[MSFTisMIA]

Re: WPC 10K Post Challenge - You Ready?!

Morning folks...grinding along during another day here in the Northeast USA.

I'm seeing the new iPhone 5C commercials. You'd think Apple patented making colors on phones so chic...to me, the only thing they've made chic and hip is how to scam folks.

Sorely in need of a vacation, but cannot travel. Anyone have any good staycation ideas?

 

[duncanjameshill]

Re: WPC 1000 Post Challenge - You Ready?!

This might be a stupid question, is this used to power a farm?

It is for a farm, yes. Why do you ask?

 

[Chregu]

Re: WPC 1000 Post Challenge - You Ready?!

It is for a farm, yes. Why do you ask?

So, it's basically a biological power generator fueled with manure and silage?

I have just never heard of such a thing and find it amazing In Switzerland everything is very small and connected, everything is connected to the power grid.

 

[duncanjameshill]

Re: WPC 1000 Post Challenge - You Ready?!

So, it's basically a biological power generator fueled with manure and silage?

I have just never heard of such a thing and find it amazing In Switzerland everything is very small and connected, everything is connected to the power grid.

That's pretty much what it is, yes. Energy that isn't used by the farm will feed back into the National Grid and the farmer gets paid for it. It's not that common, but the company I am dealing with have plenty of orders for more plants. This is only the third one I have worked on, and I had no idea about them before hand, but the more I look now, the more I see these plants around.

 

[Chregu]

Re: WPC 1000 Post Challenge - You Ready?!

That's pretty much what it is, yes. Energy that isn't used by the farm will feed back into the National Grid and the farmer gets paid for it. It's not that common, but the company I am dealing with have plenty of orders for more plants. This is only the third one I have worked on, and I had no idea about them before hand, but the more I look now, the more I see these plants around.

Thanks for the explanations, this is really cool

 

[martinmc78]

Re: WPC 1000 Post Challenge - You Ready?!

Thanks for the explanations, this is really cool

There are a few schools in the UK using biomass boilers that work on the same sort of principle - recycling human waste to provide power for the school. Have drawn a few in over the last few years.

 

[N_LaRUE]

Re: WPC 1000 Post Challenge - You Ready?!

Thanks for the explanations, this is really cool

There's a pilot power plant in Australia using a similar method on a larger scale, I tried to find the link to find out what the power output was. I think it's a brilliant idea personally.