The Trumpet has blown

[Tony Taylor]

#36 John Oz,same here in the UK you can gift money to your children tax free £3000 in a tax year but as mentioned by Johnny K you need to know what you are doing and not pop your clogs for 7 years.

What Are the Rules Surrounding Gifting Money?
Under HMRC rules, everyone is allowed to gift a certain amount of money within certain time frames without it being taxed. But above those thresholds and outside of those circumstances, gifts are taxed like estates to ensure people don't use them to entirely evade inheritance tax.

In general, gifts to children and grandchildren are tax-free if:

You hand out less than £3,000 total in a tax year.
The gifts are small (less than £250 per person).
You give a certain amount of money tax-free as a wedding gift.
You gift the money more than seven years before you die.
Otherwise, money you directly give to anyone other than your spouse or a charity is subject to gift tax, which can be up to 40%

Several good reasons to use hard cash, once you withdraw it they cant trace who you give it to.

[James Curry]

Several good reasons to use hard cash, once you withdraw it they cant trace who you give it to.

Yes that has been done a few times down the years, just need to tell my my family the bank of mum and dad is closed. It is only open for my grand daughters now, lol

[Johnny Kieran]

I gave/lent my son a largish wad a few years back in a bank transfer. The bank wanted to know why it was going to him, I said it was a loan and they did the deed.
Some time after, they phoned me to find out why he hadn't paid it back. I told them he'd paid me in cash over a period. They warned me that I'd be watched in the future.
I absolutely hate banks and all they stand for. They're as bent as safety pins, working only in the interest of the fatcats.

[Johnny Kieran]

I see Trump has trumped again for the fatcats.
He's caused billions to fall off the markets, all the fatcats buy up, then he announces he's changed his mind for a while. Now the markets will rise, and thank you Donny boy, I mean it, I really do.

Oops I've posted before reading the other Trump thread about the same kinda thing. Apologies people.

[happy daze john in oz]

Trump is smart, well he thinks he is, but others are now questioning that bit.

Transfer of monies here in Oz does not have the same restrictions as some of the UK ones.
Many will draw down form their super account and pass to others, that can be done no questions asked.

Our financial guy suggested we take out a reverse mortgage.
Maybe $200K to enhance our life style, fly business rather than cattle class.

It would reduce the amount left when we go so those who gain will get less but pay a lot less tax.

[James Curry]

We call that equity release John Oz. Can be okay for some. May well be a good move for you & spouse John as you have mentioned you have no children. As they say john no pockets in a shroud might as well enjoy life to the full.

For me it is all about getting a few quid to the grand daughters for their Uni fund.

Ah Grand daughters

[j.sabourn]

#2 I will answer my own post others will have different views. What Trump has succeeded in doing is in the likes of Australia is taken away or weakening the first bastion of what we call Democracy and that is the government like any former communist country does is dictates the the prices and living standards of the backbone of any nation and that is the working man . Free enterprise is sinking into oblivion and if Democracy is to survive then any government must take a step back and let profit and loss make its own level by people’s choice where and when and what prices they are willing to pay. The dictators of this world must be laughing up their sleeves and wishing the USA well in its efforts to wipe out their opposition. The grey world of communisms base will return under the auspices of the present practices being practiced It will finally be solved by the people themselves and not those who think they rule it. JS

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#2 I will answer my own post others will have different views. What Trump has succeeded in doing is in the likes of Australia is taken away or weakening the first bastion of what we call Democracy and that is the government like any former communist country does is dictates the the prices and living standards of the backbone of any nation and that is the working man . Free enterprise is sinking into oblivion and if Democracy is to survive then any government must take a step back and let profit and loss make its own level by people’s choice where and when and what prices they are willing to pay. The dictators of this world must be laughing up their sleeves and wishing the USA well in its efforts to wipe out their opposition. The grey world of communisms base will return under the auspices of the present practices being practiced It will finally be solved by the people themselves and not those who think they rule it. JS.

[happy daze john in oz]

Democracy will only continue as long as the people want it to.
It has stood the test of time in many nations over the millennium, but some along the way have changed either by dictator or desire.

The change will only take place if an offer better is on the table.

Communism for many was the answer but for many it looks a bad deal.

What Trump is attempting, and only he knows what it is, does not fit with the common understanding of democracy.
It is a bit like the saying, 'you will have less and be happier that way'.

In the 70's there was talk of the 'great reset', a global gov to rule all.

Now we have Trump and his antics which any sane person would say make no sense whatso ever.

It has now reached the point where in USA some senior economists and polis think he may have reached a point if insanity!!!!!!

[James Curry]

What is the point of instutions like Congress or the Senate in the US when the US President has the power of veto on any bill presented to him. Not 100% sure I have that right but the power of veto has been used by US presidents in the past.

There was a Republican Senetor was asked on Channel 4 news last night, he was asked if the Republican party are onboard with what Trump is currently doing? A pause then well perhaps not all. Another question is are the Republican party afraid to confront Trump another pause
Yes!!!
Only way the USA will restore common sense and democracy is when the Democrats & sufficient numbers of Republicans pull together.

If Trump continues the way he is going he is going to cause a major world conflict, yes I know Mr doom and gloom.

He has weakened America so much , Putin is laughing at him , by weaken I mean he has lost the trust of Europe and other Western & Eastern allies.

On the news this morning EU & China to hold a meeting to discuss reducing Tariffs on Chinese EV cars and likewise on trade from the EU into China.

[Johnny Kieran]

I don't think it matters what ideals there are, once humans get in charge, ideal are out the window, except theirs.
Communism could be the ideal way to live if humans weren't involved, it's where Russia and China went wrong.
At least with democracy we can get rid of dictators, if we spot them quick enough that is.