/biz/ - Business & Finance

Yeah it's pretty hard.
Everything cost a fuckload, so unless you have the international connections of a multi-billion dollar company, you're basically screwed.
However, it's not too hard to enter into the successful lower-upper class.

Australian is a third world shit hole and it will become the new Sweden after Sweden burns to the ground.

If you're smart enough to escape the nanny state and propaganda, then move to the US.

>>684895
>starting your own business is almost taboo down under.

Everything is taboo here. Wanting or having money is considered greedy, and you become ostracised from your shitty friends if you don't blow your entire pay on shit. Which is probably a good thing.

Other than mining, Australia has a solid engineering and financial services sector, but I struggle to name prominent individuals from either. The folks from Ozforex come to mind, but that isn't huge.

>>684895

There's an entire blog that elaborates the sentiments in your post. It's called MacroBusiness.

Australia has many entrepreneurs, you only think there's a dearth of them because they aren't household names like Steve Jobs. They succeed despite the country having almost every aspect of its fiscal and taxation policy designed to discourage them, including:

– Maintenance of the high cost of land through neg gearing, FHB grant, CGT discount;
– Punitive tax treatment of employee share schemes that involve paying tax on profit not yet made;
– Unimaginative superannuation industry whose main objective is to search for dividend yield in mature companies

Australia rewards unproductive capital investment and speculation at the expense of labour and productive enterprise. It's a matter of state policy, endorsed by Liblab and the RBA.

>>684930

Just to demonstrate my point about quiet achievers in Oz:

Without looking it up, tell me who Michael Malone is and what he's done.

>>684931
Doesn't count, he's american.

>>684937

>>684930

Good fellow. I've been following MacroBusiness for several years now. If you haven't already, Australia: Boom to Bust is a great read.
>>684937

Different guy.

>>684931

The thing is though, in the early 90's the internet was an emerging technology and sector. I had actually floated the idea of staring an ISP, since the NBN would have provided all the infrastructure needed and there was real opportunity from the retail side.

I'm not sure it's possible now with the LNP's having sabotaged the project.

Originally a Sand Nigger, came to Aus in 2006 with -$200.
Running my own oil & gas company.
Now I'm a citizen, Aussies still hate me but I don't give a fuck. I'm having fun.
In this global village nationality is not relevant. Your hunger for success is. Will answer questions for the next 20 minutes
;)

>>684946

You realise that export prices for LNG are going to crash, and that Oz producers are on the bad side of the cost curve?

>>684947
If production is good I move my operation to upstream.
If the prices go down the sewer (as now) I shift my focus on maintenance / shutdown operations.

>>684947
Also if I make a little bit more money, these are good times to buy very well established businesses for nothing!

>>684946

How did you get started?

>>684946
Tell us how you did that

>>684952
Started working for a company to make enough money to eat first. I was very hungry you know! When I arrived in Perth I didn't have anything to eat for the first 6 days. I was drinking lots of water ;)
Saved $40k to start my business but my Sand Nigger dad borrowed it for "6 months" and never gave me back my money so I decided to start with nothing.
Learned how to code HTML.
Started 40 websites selling random oil & gas tools from USA / Germany.
You can guess the rest

>>684954
If I could give you one advice; Don't start a business...
Buy a good business which is already established and have returning customers.
I had to start because I didn't have money my friend.

>>684956
Mr Sand Nigger, you wouldn't happen to be a Persian by any chance?

>>684957
Sand Nigger is Sand Nigger.
Ask a question that might help you get money my friend.
Not gonna take your bait

>>684958
haha very well.
Serious question, how to invest in Australian stock market?

Not something I've ever tried here before.

In particular let's say i have 10,000$ to invest.
How do i minimize or just handle taxes at all while day trading?
My main impediment to entering the stock market is i have no idea what i'm doing about taxes.
I feel if i get started i'm going to get fucked in the ass by the ATO because i'll have not paid some tax somewhere.

What tax advantages can i obtain?
What is wise tax management etc

I doubt it's possible but what would be ideal is to have like a trading account where i just buy/sell and essentially day trade.
Never withdrawing from this account as i have no need to spend it, allowing it to grow indefinitely and only paying taxes afterwards when i withdraw these gains for personal use.
My intent is essentially to continually reinvest these funds.

Is such a thing possible?
I suspect it might be possible if said trading is done through a company?

I really have no idea.

As you run a company, tell me if it's possible or i'm just daydreaming here.

>>684960

–Make sure your broker has your TFN. Then all the calculation is done for you.

–Trade as little as possible and look to own securities for at least 12 months to be eligible for the 50pc discount on any capital gain you make

>>684961
What broker should i be using?
From what i understand certain trading platforms have better graphs/information than others?

>>684960
Gooood,
Now we are talking.
1- I'm against day trading. Big hedge funds and pension funds are making billions every day. Have you ever asked your self; if they are making this much, who is losing the same amount? Yes my friend, day traders.
2- If you want to invest in a business, choose a very small business in USA or Germany with capitalization less than $5m & return of ~25%. Also it will help a lot if that business have some sort of a small monopoly on their product. This size businesses are impossible to invest in for the large traders / investors to invest in because legally they can't own more than 5% of that business.
3- You can register an investment company in Bermuda or any other tax haven legally. You pay your tax on your income, send your income as a loan to your offshore company & invest. As long as you don't bring money to Australia, you don't have to pay tax. When you travel overseas, you can use your credit card from the bank that is holding your account in that tax haven to pay for your "Business Trip Expenses".
4- Don't invest in Australia as your job is already dependent on Australian economy. If your investment is in the same boat, you can both go down at the same time.
5- Use $1000 of your $10k and get 30 to 40 good investment books. it will pay off my friend.
6- Turn off your TV

>>684963
1. point taken, will not do
2. excellent point, i will treasure this advice
3. this i truly must know more about, point in the right direction sand friend.
4. excellent point
5. I currently only have 2 investment related books that got me interested in all this, the intelligent investor and rich dad poor dad.
If you could point me towards these books i have absolutely no problem buying/reading these 30-40 or whatever it takes books.
6. I have not watched jewish controlled tv in over a decade

>>684965
3- If I may suggest for the first $200k, don't worry about tax. You need to perfect your investment strategy and then worry about tax. tax only gets 30% of your total income after all expenses paid! Bad strategy can take 100% of your capital.
5- I count Rich Dad, Poor Dad as a fundamental book not an investment book. These are my favorites:
a- The Little Book That Still Beats the Market
b- The Four Pillars Of Investing
c- The Outsiders
d- The Big Secret for the Small Investor
e- The Alchemy of Finance
f- How the Stock Market Works
g- The Little Book of Safe Money
h- Capital in the Twenty-First Century - Thomas Piketty
i- Business Adventures
j- One Up On Wall Street
k- Buffet - The making of an american capitalist full
l- Zero to One
m- Escape Velocity

I can go on forever, by the time you get to your 5th book, you will find your path to the next book and the next.
Get rich brother. Make me proud

>>684965
I didn't like your comment on "Jewish Controlled TV".
I make racist joke about Sand Niggers because I am an Ex Sand Nigger. But Jews are gods of networking and economy. We all can learn a lot from them

>>684973
Thank you, just the book information helped me out significantly.

After those first two books i wasn't sure where to progress.
As you probably know, there is a sea of hundreds of books and for an inexperienced person, determining what is worth reading and what is simply someone wanting to make money selling books is difficult.

> Jews are gods of networking and economy. We all can learn a lot from them
Absolutely, no denying their ability to make money.

But let's be honest, they do control television and it's a worthless thing to watch.

>>684979
I disagree.
Filter what goes through your mind:
https://youtu.be/WYp2sP4-rg8

>>684980
That, is certainly worth watching.
Never seen such a show before.
Thankfully it's on you tube, along with the documentaries i occasionally watch.

BUY REAL ESTATE

THE ONLY WAY IS UP

PEOPLE NEED HOUSING

CRASH NEVER

>>684990
BETTER TAKE ON THAT $860,000 MORTGAGE FOR A SYDNEY HOME.

YOU DON'T WANT TO END UP POOR IN RETIREMENT DO YOU?

>>684990
Real estate is a scam from the governments to get more tax from you.
Objects don't grow.
I know you disagree. If I may suggest, read the book; Motivated Money by Peter Thornhill to have a better view on what I'm talking about.

>>684946
>>684955
How did you start out to reach that 40k? I am in a similar situation where you started but have a civil engineering degree under my belt. Not sure where to go from here though...

>>684998
Well pass my 20 minutes of commitment here but I love my bros here.
As i mentioned again; Although I saved $40k, my dad took it all and I had to start with nothing.
If you are Civil engineer, find a company that you like to work for (preferably FIFO), reasearch their scope of work in the project they are involved with. Read in a few forums on the subject of their operation (Road works, earth moving, steel structure etc). Revise your CV to make you look like a perfect person for that specific project. Find their HR manager's contact detail on linkedin. Send an email to him and get a meeting. SELL YOUR SELF LIKE FUCKING WHORE THAT YOU ARE.
Money can be saved in 6 months

>>685001
Thank you my sand friend.

What I lack is experience in the industry but I will try and make it work :)

>>685002
If you really want to get rich, find a company that they recently started in construction. Talk to them to become a partner in the business and work in return. You will grow with them and you will gain experience.

>>685002
Also renovation start up companies need you and can help you get rich:
Read this one:
http://www.businessinsider.com.au/james-paine-west-realty-advisors-2015-3?utm_content=bufferd8eff&utm_medium=social&utm_source=facebook.com&utm_campaign=buffer

>>685003
>>685005
Sir you have restored my faith in humanity, I wish more wise men were on the internet like yourself, I will take this advice and make your proud :)

I appreciate it mate.

>>685007
Just fucking get rich and then mentor younger entrepreneurs.
Help people and people will help you my friend.

>>684912
>People leaving Australia or Sweden for the US
Yeah. I totally see that happening.

I'm out bros.
Gotta go out and party while I'm still alive.
Wish you all the best of luck.

Pro Tip:
Leave Tasmania and never go back.
You're welcome.

>>685029

in Adelaide, bruh.

Local economy is dead

>>685036
You too huh?
We're pretty fucked m8

>>685005
>he's 28 millionare
>i'm just finished university at 27
I'm feeling pretty bad and like I wasted a lot of fucking time man.

>>684895
Try and just do it, don't mind what people think. Who cares if you fuck it up

>>684930
>Punitive tax treatment of employee share schemes that involve paying tax on profit not yet made
They've fixed this. (Or they're about to, not sure if it's got royal assent yet.)

>>684895
I have a relative there who became a millionaire in the 1970s. He started as a construction worker and eventually after 10 years or so started his own construction business. He is an immigrant from Europe though, so not a real aussie.

He started self employment by placing advertisements in newspapers offering to fix roofs and stuff like that. \when he had enough money he hired a person to do the job for him, later he hired two, etc etc. managed to hire and later purchase construction machines eventually etc etc. And the rest is history.

>>685500
My former employer did something similar. in the 70's when he was 15 he started washing cars for some spare cash. Before to long he had a bunch of guys working for him. He sold that business for a huge wad of cash and used his new capital to start a window replacement business.He later sold that business and was a millionaire by his early 30's.

Trouble is, had he started today i'm sure his success would not have been certain. FOlks of the 70's would have rode unparalleled economic growth in history along with the financial deregulation of the 80's.

When a roof over your head costs more than half a million, what does that say about the macro economy?

>>685051
>>i'm just finished university at 27
Makes me feel a bit better about finishing at 24. All my friends have graduated.

Feels bad.

>>684895
Isn't Australia like really shitty with socialism and insane taxation and such?

>>684931

iiNet founder, and a nice enough guy who married a girl I knew at uni, who is a transparent gold digger from Poland.

>>685953

We have a really shitty tax system but we have a nice healthcare scheme.

Not sure about Socialism though, unemployment is a pittance while wealthy retirees ream the system for billions.

We're basically UK lite.

Does anyone think everyone in australia have this mindset that they will be rich one day, but put no effort toward it?

The amount of times ive heard something like 'when we win the lotto' is crazy

>>685960
It's the mindset that the only way they could get rich is through dumb luck, not effort.

Also, most Australians feel weird about money. If you get wealthier, people you used to know will treat you differently and comment on how you haven't changed much, ask you for advice and never take, and, god forbid, ask you for money.

>>685964
protip:
Never discuss your finances so they don't notice your wealth.
Continue living below your means so you will have an average lifestyle like everyone else.
You can invest all the excess cash.

It's a win win situation.

>>686011
Yeah that's good advice.

I have at least one friend who is kinda frugal but doesn't invest well though and isn't serious about it. Then another who has overlapping phone contracts cause he keeps buying new phones.

>>686028
I understand the pain of watching people make stupid decisions.
It can't be helped.

If they want your advice, they will ask for it.
If they don't listen, not your problem.

>>686031
Yeah, kinda sucks seeing a friend waste away their potential working a shitty job, not attempting education and drinking most of their wages or blowing it on shit. He lives with his grandparents (not that there's anything wrong with that) and I can't see any route away from that situation. I can't see why he won't still be doing the same thing in ten years.

How can people live like that? If I couldn't get beyond that in ten years I'd off myself.

>>685958
>We're basically UK lite.
u wot m8

>>684912
Was getting ready too but Aud dollar dropped
Didn't find good place to stay in time

>>684973
Could I use kindle for these books, Reading put's me to sleep... You sound like you know what you're talking about... Thanks for sharing some of the wisdom on how this shitty system works.

>>685029
Why is that... Go ahead explain

>>686348
cause its a shit and is kill economy and demopgraphics and no accesible work and cant get experience in work

>>687105
Tasmania is one of the world's largest sources of legal opium.

Imagine if they legalised heroin.

$$$$$$$$$$$

>>684956
Where to buy businesses in Australia, though?

>>687132

ozbiz.cu

>>686346
I'm the same fag.
I'm dislexic and reading is quite hard for me.
I have all these books in Audio book format.
When I'm driving, I'm learning

>>687132
Depends on which industry you are interested in!
Find a small monopoly, like a funeral company in a town that is big enough to make good money but small enough that no one else can come and compete with you.
This is just an example. Use your creativity.

>>687295
Appox. how much does your gas company bring in?

>>688033
How will the answer helps you get rich?
Focus on your goals my friend.
Don't get distracted by other people's achievement or loses.
Set a 12 months goal, break it down to one month benchmarks. Start working on it RIGHT NOW.
And good luck my friend.