Ukay Ukay!

[Tukaram (Tim)]

4 hours ago, Mike J said:

Ukay Ukay is about the only way to find well made clothing, that fits, and that is affordable here that I have found.

Yeah I tell people it is the best place to get "fat American" sizes ha ha  (my size). I got a nice rash guard for under $5.  

[Dave Hounddriver]

17 minutes ago, Tukaram (Tim) said:

rash guard

I had to google that and this is what I got.  Is there something you are not telling us?

[Tukaram (Tim)]

3 hours ago, Dave Hounddriver said:

I had to google that and this is what I got.  Is there something you are not telling us?

 

About right, but mine is not Trek. It is a shirt to go under your diving gear.

[Dave Hounddriver]

On 7/25/2018 at 10:06 AM, Rooster said:

Roy   Frederick Barker, 74

It's a small world.  Just found out this is a guy I know, but until now I only knew him by his first name.

His filipina partner is devastated because her previous S.O. died a couple of years ago and her son was shot dead last month and now this.  I don't know all the details but Roy was just helping out his filipina gf with her store.  He was not some big time Ukay Ukay dealer or rich foreigner.

That sucks and it should be a warning to others.

[Jollygoodfellow]

On 7/30/2018 at 10:33 AM, Dave Hounddriver said:

That sucks and it should be a warning to others

Yes it should but I bet he and most others know the law so its a case of if you can get away with it. 

[Dave Hounddriver]

14 minutes ago, Jollygoodfellow said:

Yes it should but I bet he and most others know the law so its a case of if you can get away with it. 

Amen to that.  And if anyone finds a grey area they should be sure to stay on the "angelic" side of the line.   I was surprised, yesterday, when a friend of mine told me that the apartments he rents out are all "done by the book".  He has an accountant who remits 12% of his rent revenues to the BIR every quarter, regardless of any expenses.  At the end of the year, there is a "settling" where he is allowed to deduct some annual expenses from the rent revenue.

I wonder how many of us expats even knew that was how it was supposed to be done, let alone actually doing it. 

[Jollygoodfellow]

12 minutes ago, Dave Hounddriver said:

 I was surprised, yesterday, when a friend of mine told me that the apartments he rents out are all "done by the book".  He has an accountant who remits 12% of his rent revenues to the BIR every quarter, regardless of any expenses. 

He possible formed a company which would require things to be done by the book. I would assume renting apartments would be regarded as a business? 

[Dave Hounddriver]

14 minutes ago, Jollygoodfellow said:

I would assume renting apartments would be regarded as a business? 

Apparently, it is.  I am not sure where the line is between renting your own place and renting more than one place.  He only has 3 apartments but he is doing what BIR told him to do.  Perhaps they mislead him, as in:  Here is a foreigner willing to give us money so let's take it.   I really do not know, although I did read a long time back that rentals were taxable on the gross rents so I have a gut feeling he is right.

[Jollygoodfellow]

21 minutes ago, Dave Hounddriver said:

I really do not know, although I did read a long time back that rentals were taxable on the gross rents so I have a gut feeling he is right.

That would be correct as it is in most countries that I know of where income from rentals is taxable income but the question is, is it running a business or seen as just income? 

[Jollygoodfellow]

6 hours ago, Dave Hounddriver said:

 I really do not know, although I did read a long time back that rentals were taxable on the gross rents so I have a gut feeling he is right.

Funny enough this came out in Australia today.

https://finance.nine.com.au/2018/08/13/13/31/ato-cracks-down-on-short-term-rental-tax-dodgers