woolley Posted June 28, 2023 Share Posted June 28, 2023 2 minutes ago, Dirty Buggane said: Just because they have money, it is not a given they or any one else will be spending major amounts on island. No, but if they have substantial income, as many do, they will be paying taxes. Who knows, they may start businesses too. Enterprising people with money have been known to do that. Quote Link to comment Share on other sites More sharing options...
Dirty Buggane Posted June 28, 2023 Author Share Posted June 28, 2023 (edited) You would have to declare it to pay tax's on substantial income and thanks to all the toadying to HNWI its only on the first £100,000. So more likely a stepping stone to see how other juristriction are, you know some where with nice restaurants and shops. Where a house with an outside stone shit house is not costing north of £1,000,000 Edited June 28, 2023 by Dirty Buggane Quote Link to comment Share on other sites More sharing options...
Banker Posted June 28, 2023 Share Posted June 28, 2023 27 minutes ago, Dirty Buggane said: You would have to declare it to pay tax's on substantial income and thanks to all the toadying to HNWI its only on the first £100,000. So more likely a stepping stone to see how other juristriction are, you know some where with nice restaurants and shops. Where a house with an outside stone shit house is not costing north of £1,000,000 Well if you go to Channel Islands the house you describe will be north of £3m !! Quote Link to comment Share on other sites More sharing options...
The Phantom Posted June 28, 2023 Share Posted June 28, 2023 56 minutes ago, woolley said: As has already been noted above, the state of the place now and the economy and currency slide makes this inevitable. It's going the way of Zimbabwe in terms of fraud and corruption, and it has been for a very long time now. For ZANU-PF read ANC in terms of election rigging and cronyism. It doesn't inspire inward investment, for sure. If your face doesn't fit you're nothing. So much for the Rainbow Nation. It's a mess for the withouts. For the withs, it's unsurprising that they will leave while they still can. Contrary to the words of the song, I have met quite a lot of nice South Africans. https://www.iol.co.za/news/politics/opinion/no-rainbow-nation-for-todays-youth-bbd691ce-3a1d-4993-973f-ed3bbdc1a15f I've been going there basically every year for the last 20 years. I've seen it slide every year and every year I am convinced it's going to completely fail, yet still it somehow staggers on. The Russian buddies will potentially be the last straw though. Too much real money and aid coming into the country (not just to the ANC) from the Ukrainian friendly West. 52 minutes ago, Asthehills said: I don’t think anyone is questioning any of that? People we’re questioning the typical negativity saying none of the South Africans are moving here. They are, in fairly decent numbers and as already stated by teapot and others there is some serious money swashing about with some of them which is only good for our economy Yes so basically, someone said there were lots of Saffas here. Many more in the process of coming over. The vast majority are beneficial to the economy in some shape or form. Some are HNWs (Pokerstars and Microgaming owners and key staff are one of the big drivers) creating additional jobs on our Island. All of which are true. A crab then contested all of this because they don't like change or foreigners. 2 Quote Link to comment Share on other sites More sharing options...
woolley Posted June 28, 2023 Share Posted June 28, 2023 45 minutes ago, Dirty Buggane said: You would have to declare it to pay tax's on substantial income and thanks to all the toadying to HNWI its only on the first £100,000. So more likely a stepping stone to see how other juristriction are, you know some where with nice restaurants and shops. Where a house with an outside stone shit house is not costing north of £1,000,000 What?! You don't pay tax "only on the first £100,000", so £20.000 if paying @ 20% rate. Astonishing how many people think that. If you elect to pay the tax cap, you actually pay an amount of £200,000 per year (£400,000 for a jointly assessed couple) to Treasury. So the equivalent of 20% tax on a million pound income (2 million for a couple). 1 1 Quote Link to comment Share on other sites More sharing options...
Asthehills Posted June 28, 2023 Share Posted June 28, 2023 43 minutes ago, woolley said: What?! You don't pay tax "only on the first £100,000", so £20.000 if paying @ 20% rate. Astonishing how many people think that. If you elect to pay the tax cap, you actually pay an amount of £200,000 per year (£400,000 for a jointly assessed couple) to Treasury. So the equivalent of 20% tax on a million pound income (2 million for a couple). Plus 20 percent VAT on everything you buy, tax duty etc. Many are employing builders and tradesmen in their homes, gardeners, nanny’s, cleaners etc. How anyone can be negative about well off working people moving here is just mind boggling. Go and ask at Jackson’s if South Africans are a significant customer base for them? That’s a lot of VAT income just there 2 Quote Link to comment Share on other sites More sharing options...
woolley Posted June 28, 2023 Share Posted June 28, 2023 8 minutes ago, Asthehills said: Plus 20 percent VAT on everything you buy, tax duty etc. Many are employing builders and tradesmen in their homes, gardeners, nanny’s, cleaners etc. How anyone can be negative about well off working people moving here is just mind boggling. Go and ask at Jackson’s if South Africans are a significant customer base for them? That’s a lot of VAT income just there There are people who don't like others being successful through hard work and enterprise. They think that taxes should be confiscatory. 1 Quote Link to comment Share on other sites More sharing options...
Andy Onchan Posted June 28, 2023 Share Posted June 28, 2023 1 hour ago, The Phantom said: I've been going there basically every year for the last 20 years. I've seen it slide every year and every year I am convinced it's going to completely fail, yet still it somehow staggers on. The Russian buddies will potentially be the last straw though. Too much real money and aid coming into the country (not just to the ANC) from the Ukrainian friendly West. Yes so basically, someone said there were lots of Saffas here. Many more in the process of coming over. The vast majority are beneficial to the economy in some shape or form. Some are HNWs (Pokerstars and Microgaming owners and key staff are one of the big drivers) creating additional jobs on our Island. All of which are true. A crab then contested all of this because they don't like change or foreigners. I presume you meant me, since I questioned where this information came from! If so, you couldn't be more wrong in your assertions. Quote Link to comment Share on other sites More sharing options...
2112 Posted June 29, 2023 Share Posted June 29, 2023 In the Manx Independent today, CM Cannans and IOMG latest dickwaving, is how the island is on course to meet population targets. Really? How is this measured, yearly census? Yes, there are lots of ‘new’ residents but lots of residents who are working on contracts. The hospital has recruited a lot of nursing staff, but some of them are on fixed term contracts. Quote Link to comment Share on other sites More sharing options...
finlo Posted June 29, 2023 Share Posted June 29, 2023 6 minutes ago, 2112 said: In the Manx Independent today, CM Cannans and IOMG latest dickwaving, is how the island is on course to meet population targets. Really? How is this measured, yearly census? Yes, there are lots of ‘new’ residents but lots of residents who are working on contracts. The hospital has recruited a lot of nursing staff, but some of them are on fixed term contracts. Plenty going the other way too! 1 Quote Link to comment Share on other sites More sharing options...
Asthehills Posted June 29, 2023 Share Posted June 29, 2023 33 minutes ago, 2112 said: In the Manx Independent today, CM Cannans and IOMG latest dickwaving, is how the island is on course to meet population targets. Really? How is this measured, yearly census? Yes, there are lots of ‘new’ residents but lots of residents who are working on contracts. The hospital has recruited a lot of nursing staff, but some of them are on fixed term contracts. Tax records. Also a lot of these people are relocating with input and assistance from DFE. At the breakfast briefing thing recently they went through it all and I am sure the presentation is online somewhere. Quote Link to comment Share on other sites More sharing options...
Asthehills Posted June 29, 2023 Share Posted June 29, 2023 27 minutes ago, finlo said: Plenty going the other way too! Less than pre covid, that I am aware of anyway. Quote Link to comment Share on other sites More sharing options...
english zloty Posted June 29, 2023 Share Posted June 29, 2023 17 minutes ago, Asthehills said: Tax records. Also a lot of these people are relocating with input and assistance from DFE. At the breakfast briefing thing recently they went through it all and I am sure the presentation is online somewhere. a slide "numbers bribed by NI holidays and Relocation Grants"? it's pretty obvious the majority of growth is in the public service, so every time he states - yay population growing... we go boo... public service getting bigger (supposed to reduce surely..) 1 2 Quote Link to comment Share on other sites More sharing options...
Asthehills Posted June 29, 2023 Share Posted June 29, 2023 6 minutes ago, english zloty said: a slide "numbers bribed by NI holidays and Relocation Grants"? it's pretty obvious the majority of growth is in the public service, so every time he states - yay population growing... we go boo... public service getting bigger (supposed to reduce surely..) Is it? Where are the figures to support that? Clue. There aren’t any. Quote Link to comment Share on other sites More sharing options...
woolley Posted June 29, 2023 Share Posted June 29, 2023 Nett 1,449 additional taxpayers since start of this administration (excluding deaths and including only new residents and returning former residents) - Alf Cannan in Keys on Tuesday. 4th sound file down on page: https://tynwald.org.im/search?_token=IlzAEr9Gu6qjS6otIZijTBZyPvUlpYSC6g1LEbdc&ContentType=e50ee5c6-e2ca-4d3e-989a-9d13c23a6a38&querytext=&StartMonth=06&StartYear=2023&EndMonth=06&EndYear=2023&Chamber=House+of+Keys 2 1 Quote Link to comment Share on other sites More sharing options...
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