Convict 1858

No suburban home should cost more than 1 Bitcoin.

From a reader... Dear Sir Under current legislation, all trusts (not just discretionary trusts) are taxed on accumulated income to which no beneficiary is presently entitled. Such income tax is assessed to the trustee under section 99A of the Income Tax Assessment Act, 1936 (“the Act”). The tax rate assessed to the trustee is at the highest marginal rate, plus Medicare. That imposition amounts to 47% of the accumulated income. The Commissioner retains a discretion to assess such income under section 99 of the Act, (which applies personal rates of taxation) but that discretion is exercised sparingly and only in limited cases, such as deceased estates and bankruptcies. Again, under current legislation, a share of trust income – to which a minor or a non-resident beneficiary is presently entitled to – is assessed to the trustee under section 98 of the Act and assessed again to the beneficiary with a full credit given to the beneficiary for the tax assessed to the trustee. The 2026 Federal Budget proposals change the concept of the taxation of beneficiaries of trust estates that has applied since the Federal Government introduced income tax. That is done by treating the trustee as a separate taxpayer on income to which beneficiaries of a discretionary trust are presently entitled to. Now, a beneficiary is said to be presently entitled only on the after-tax net income of a discretionary trust estate. Any credit for tax paid by the trustee, under these new proposals: is not fully credited to the beneficiary if it produces a cash tax refund to the beneficiary, and in the case of a corporate beneficiary the tax paid by the trustee is not credited at all. With all due respect to Treasury officials and the Treasurer, who devised this new arrangement, there is a complete misconception on who is being assessed on income to which a beneficiary is presently entitled to. Unlike companies, where the taxable income of a company is legally and beneficially derived by the company, in the case of trusts, including discretionary trusts, any net income of a trust estate to which a beneficiary is presently entitled to is income of the beneficiary, not the trustee. By taxing the trustee on income to which the trustee is not beneficially entitled to, and not passing the tax paid by the trustee to the beneficiary who is entitled to that income from the trust estate is not a tax, but – in my opinion – an illegal penal confiscation. Allow me to explain: The Core Problem: When a trustee is assessed on income to which a beneficiary is already beneficially entitled, without any credit (or a full credit) being passed to the beneficiary, two (2) serious legal problems arise with regard to the Constitutional validity of the legislation purporting to assess: 1. Section 51(ii) — Is it a Valid "Tax" or a Penalty/Forfeiture? The High Court in Matthews v Chicory Marketing Board (Vic) (1938) 60 CLR 263 confirmed that a tax is "a compulsory exaction of money by a public authority for public purposes, enforceable by law, and... not a payment for services rendered." A "tax" – in the constitutional sense – requires it to be imposed for revenue-raising purposes, not as a punishment or confiscation. See Woodhams v Deputy Commissioner of Taxation of the Commonwealth of Australia (1997) VSC 59 on what constitutes a penalty (and not a tax). The key issue is whether imposing the full tax burden on a trustee — without any (full) credit mechanism for the beneficial owner — crosses the line from taxation into something more like a forfeiture or a penalty. In these circumstances, I submit the trustee’s right to exoneration and indemnity are in jeopardy and a beneficiary would be entitled to restrain the trustee from using trust funds to discharge a personal obligation, that is not a fiduciary obligation, even if the obligation was imposed by flawed legislation. 2. Section 51(xxxi) — Acquisition on Just Terms If the Commonwealth imposes a liability on a trustee with respect to property or income beneficially owned by another, and the trustee cannot recover that tax from the trust estate or beneficiary through the tax legislation itself or under the terms of the relevant trust deed, this could constitute an acquisition of property (money) from the trustee without just terms, contrary to s 51(xxxi) of the Commonwealth Constitution. The High Court has ruled in Minister of State for the Army v Dalziel (1944) 68 CLR 261 and most recently in Government of the Russian Federation v Commonwealth of Australia [2025] HCA 44 that section 51(xxxi) of the Constitution will protect a party whose property is assumed by the Commonwealth without compensation. The term “property” is widely characterised to give the affected party full constitutional protection. In my view, the proposed arrangements don’t fall into the unintended consequences camp, as is often claimed when some controversy is later discovered after a proper and considered analysis. In this case, the proposed arrangements are fundamental misconceptions, that fail to recognise basic constitutional protections.

Prison population per 100,000 people

@TheVixhal Urantia posits the Ultamaton. The nucleus is connected/centered to/at Enternity.

Every electron in the universe might be the same electron. In 1940, John Wheeler called Richard Feynman and suggested that the reason every electron has exactly the same mass and charge, to a precision we cannot even measure a deviation from, is that there is only one of them. A single electron, weaving forwards and backwards through time, threading through every moment of cosmic history, appearing as matter when it moves one way and as its antiparticle when it moves the other. The idea was never proven, but it was never quite killed either. The math allows it. An electron going backwards in time is mathematically identical to a positron going forwards, and the equations do not care which description you pick. If Wheeler was right, then the particle in your retina reading this sentence is the same particle burning in the heart of a star ten billion light years away. You are not made of many things. You are made of one thing, seen from many angles at once.

@clairlemon Prison Colony Freeman Dream Melting Pot Welfare State Retard Nation <- You are here Prison Coloney

What are we doing here

This is the night sky on Mars—raw, unfiltered, untouched by a single streetlight.The atmosphere is so thin that every star slices through like a diamond on black glass. No haze, no glow, just infinite clarity.140 million miles from home, our little rover sits beneath a ceiling humanity has never truly seen: a universe stripped of Earth’s comforting blur.Close your eyes and stand there with it. Suddenly the cosmos stops feeling edited for our comfort. It feels brutally honest. And in that vastness, you feel perfectly, gloriously small.

Definately in the top 10 of greatest video games. Hilarious.

This game still haunts my dreams.

Holy shit! That took my breath away. Please be real. Then we can all go to Saturn, Jupiter and Uranus

@jeffreytucker Fundamentally, it is mechanical. Mammalian lungs all work the same. Respiratory viruses spread out, in, down and up the evolutionary ladder. Wack a Mole is an understatement. The mutation rate is epic. PS: Covid was the greatest public health failure in history.

Here is my pick for the most interesting and unexpected article from the Covid period, authors: Anthony Fauci, David Morens, and (crucially) Jeffery K. Taubenberger (who is still at NIH). This article explains what our moms taught: you cannot stop a cold (or other coronaviruses) with a vaccine. sciencedirect.com/science/articl…

The government is meant to be the last resort for the unemployable. Australia is gone. Each of these people (and their family) will never vote against the State.

@Collin_G_Wood Everyone is a Convict. The only reason you are not in prison is because the government doesn't see you as a threat. That bloke is on an Ice bender. About 72 hours without sleep and he needs the sugar for brain repair. Another 48 hours and he goes psycho.

Jail is his home, being free on the outside is his holiday 🤦‍♂️🤦‍♂️🤦‍♂️#auspol

@MarkoMatvikov A small nitpick. Illegal chop chop and booze do not spend tax money. NDIS, CFMEU and Snowy do.

While we debate ahead of the federal budget, remember we’ve already lost 10s of billions of dollars to: Illegal tobacco NDIS fraud and waste CFMEU corruption Using a conservative estimate of 30bn, this could’ve funded any of the below: 30 new hospitals 600 new schools 300,000 nurses or teaches 60,000 social houses And now illegal alcohol is the latest booming industry for organised crime.

@lowlandsapien Vedic Indian descent on the left, Melanesian descent on the right.

Typical Murray River tribesman on left, they sunburn in spring/summer. North Queensland rainforest on right Taken from an old Mungo Manic post.

@SimonBanksHB "A Recession we had to have" The level of depravity required to believe that monetary Niravana can be achieved with a 256MB thumb drive owned by the government, haunts me. The waste, grift and fraud is biblical. Without a Recession, it will become apocalyptic .

Let's be clear The LNP's plan is to force an unneccessary recession in Australia Why? Because there is nothing more important to them than austerity and cutting worker's wages Backed by One Nation

@Thejimpenman It case you don't know yet Jim, it does not matter. There is no solution. The genetic sieve has stopped. The mutation rate is accumulating with no social, economic or scientific fix. The era of the Frozen Gene has begun. I wish it wasn't so.

Collapsing birth rates are the most serious long-term threat facing developed nations. This isn't a budget problem or a housing shortfall. It's demographic collapse. My book Birth Rate Crisis comes out in October. The cause isn't economic. The solution isn't economic either. Most of the commentary on this is wrong.

@van00sa When good and evil battle, the lawyers must be paid first. "Anti-Psalms: chapter 6, verse 1"

A WA Supreme Court judge just handed down a 1,600 page ruling Gina Rinehart (worth $40 billion) must pay royalties to rival mining families from a deal her father made in the 1960s. The dispute has been running for over 40 years. Hope Downs, the mine at the centre of it, made $832 million for Hancock Prospecting last year alone. Rio Tinto pays 2.5% royalties to Hancock. The court ruled half of that now belongs to the Wright family. Around $18 million a year, but multiplied across every year the mine has operated. The trial ran 51 days and cost an estimated $250,000 a day in legal fees. 2 dozen of Australia’s top barristers in a Perth courtroom arguing over handshake deals between men who were mates in the 1950s. 2 of Rinehart’s children also sued her claiming their mother ran a fraud to cut them out of their grandfather’s share. That claim was thrown out. She keeps the mine, she just has to share what it produces.

In a few weeks, the Senate will vote on the ASIO Amendment Bill (No. 2)—and every Australian who values freedom under the law should be paying attention. This Bill doesn’t just extend extraordinary powers—it makes them permanent. Powers that were meant to expire by March 2027 would instead become ongoing. It expands compulsory questioning for adults and even minors, weakens safeguards, limits access to legal counsel, and lacks proper judicial oversight. These are not ordinary powers. They allow the state to compel answers under threat of penalty. That is a serious intrusion into personal liberty. Of course, national security matters—but it must never come at the unchecked expense of freedom. For these reasons, I will NOT be supporting this Bill. To hear more from me and stay up to date, signup to my email newsletter here: alexantic.com.au/join

Great guy, smart as a whip, humble. Adam is the decoy. Long Live Satoshi.

@emma_saintly @enginner_dog Pure brain rot. The assumption that mocking a problem that had been solved 150 years ago and equating it as symptomatic of rejecting battery powered vehicles is poor. At best. The sense of inadequate possibility is your vision and not mine or Toyota's.

@enginner_dog 「移動手段」という正論を笑う空気こそ、トヨタの時代遅れな精神論の象徴。 消費者の現実を「勉強不足」と切り捨てて、自分たちの美学に酔いしれているだけ。 その選民意識こそが、EV競争で世界に遅れをとっている最大の原因でしょ。

トヨタの新人研修 新入社員が豊田会長に聞いた 「予算を気にしないならどんな車を作りますか？」 豊田さんは逆に問う 「車の目的は何だと思いますか？」 一人が答えた。 「移動手段です」 会場にドッと笑いが起きた。 豊田さんがそれを制し 「もっと勉強しよう」言い放つ。 続けた金言が ⇩

Greatest skateboarder in history. His has hands on his feet.