@Bux this was received this evening. Thank you!
You mentioned last year that the update would give all instructions and information on tax associated.
There is no information on Tax. Will this be forthcoming?
@Bux this was received this evening. Thank you!
You mentioned last year that the update would give all instructions and information on tax associated.
There is no information on Tax. Will this be forthcoming?
why I receive nothing, do I need to finish my KYC?
For shareholders in Maidsafe they should have received the email
For shareholder of the SPV (thru BTTF) will have to wait till BTTF sends out a email on behalf of the SPV. The SPV is the actual Maidsafe holder in this case
I too am waiting to hear about the tax situation or at least some information that would allow me to make a decision on whether to transfer my shares to a different entity before the tokens are created or released.
Be aware MaidSafe as a company cannot give tax advice. Investors MUST seek such advice from their own accountants. While many ordinary (not financially regulated) companies will try to ensure equitable tax positions for stakeholders, they are forbidden by law/regulation to give financial advice.
Today is my daughter‘s birthday. I searched this forum and cannot find anything official from Maidsafe about a nice cake recipe.
Here is extract from Shareholders update from May 2024 which suggests otherwise……
“Further details regarding token distribution, tax implications, and market entry strategy will be shared at the beginning of June once we have a final breakdown and legal view can be provided. ”
Will tax implication information be provided?
I think the key takeaway here is that MaidSafe can share general info, but personal tax advice is up to each investor to sort out. If you’re unsure, best to check with a tax professional. No point going in circles on this, probably more productive to just get the right advice for your own situation.
im pretty sure in my jurisdiction MS wouldn’t even be allowed to give advice … because they’re no registered tax advisor … anyway … just thinking loud … guess I shouldn’t comment too often here since it’s none of my business anyway …
but what kind of recipe where you looking for? - I could ask chatgpt to suggest one for you?
I’m not looking for personal tax advice. It’s the tax implication advice, which was previously advised we would receive, I’m interested in.
Of course, there is such a recipe on the forum
1 egg
30g. butter
1 tbsp. honey
180g. sugar
1 tsp. baking soda
all this is mixed in a water bath, while it is still warm I add flour and knead (not too hard dough). I divide the dough into balls and roll each ball into a circle about 1-2cm thick. For the cream condensed milk (boiled) and sugar or sour cream and sugar.
Check out the Dev Forum
I think the advice is “speak to your tax advisor”
But seriously guys, you need to stop pestering Maidsafe for stuff that they should not be concerning themselves with.
When I bought my cake ingredients, I didn’t ask the cashier at the supermarket if she knows if I can claim back the VAT as a business expense.
IMO the only thing Maidsafe need to do is to publish an official document to explain the history, the reason and the procedure of switching MAID, E-MAID, shares, loans etc into ANT so that everyone can take it to their tax advisor and do what is best for him or herself.
They could have sought guidance and published the response. They said they would give information on tax implications, but so far have not.
We don’t expect advice from maidsafe, and if they gave it I wouldn’t trust them.
Congratulations to the young lady! You’ll have to look in Autonomi, someone must have the recipe for the cake on the web
Thanks David for your reply and it was not quite the answer that I was hoping for. I think that was the first I had ever posted on this forum although I have supported and followed the progress of the company for the last 15 years or so. I did not to disrupt your endeavor with useless questions or back chat (cake recipe case in hand).
A huge congratulations to you and your team, including former members who have also contributed (one of which was an old primary school friend). I know that in the beginning it was many local people, friends and family that invested in a startup company aiming to change the internet before crypto existed. In the early stages, I was able to phone and speak to people which actually led me to invest further in the company because I believed in the company and the trust that was built up.
My understanding was it was done though the EIS government scheme for startups that carried a tax exemption on the realisation of any gains for the shareholder. This has obviously changed now with the conversion of shares to ANTs. I know that all people on here are very adept with crypto and some of us may dabble in it but I think some of your early investors may not fully understand that any ANT gains will presumably be liable for CGT on the sale of them. It might be prudent to alert your longest standing investors and loyal silent supporters of the general implications without being specific about personal tax. I believe that might be what weebert is alluding to as i am sure that no-one wants to hand over more money than is necessary to our useless government.
Anyway, Congratulations once again on all your achievements and I really hope this success will benefit all of us with safety and security of the internet, free speech and whatever else it may bring. Thanks
It’s a long story and as you will see any tiny comment will be picked on and we do get threats of lawyers and all sorts of chaos at time. It’s really very very difficult (impossible) to be open and for me that’s horrible as I am a 100% open book.
However, I have been off for a wee while and not followed the money side very much (I still cannot get through an episode of ny program yet, just no concentration). The situation with EIS that selling your shares for cash would be CGT exempt under that scheme. So folk should have claimed back an amount (20%?) I think on investment and then could look forward to CGT free returns on selling the shares.
Here the shares won’t be sold, but maintained. The team have worked out a mechanism though that could prove really beneficial (even here I am choosing my words with care). The benefits would not be under any EiS/, but folk can still sell their shares AFAIK and then there is no EIS there either. I hope people feel comfort in the staff of the company are all in the exact same boat and are all looking for the most efficient experience here as 100% of investors must be treated 100% the same, by law and that is a good law in my opinion. It keeps everyone clean.
Thanks @Douglas_Forrest and thanks your friends, this journey has been way way longer than any of us thought, especially me. HoweverI hope now we can show it was worth it. But I would love to buy back my time in many ways
I’m only asking for information that Maidsafe themselves stated, quite clearly, they would supply. I don’t know why they say one thing and do the other.
If they had not mentioned tax implications I wouldn’t have even asked for the information.
Oh, and ask run of the mill accountants for guidance over this and you will get differing advice……
Thanks David, I would like love to hear an elaberation of “Here the shares won’t be sold, but maintained. The team have worked out a mechanism though that could prove really beneficial (even here I am choosing my words with care). The benefits would not be under any EiS/, but folk can still sell their shares AFAIK and then there is no EIS there either.”
Please can you give me the contact details of someone within the maidsafe / autonomi team to discuss and potentially organise the transfer of shares?
I agree that everyone has to be treated the same and subject to the same laws. It is just getting the information and understanding the mechanisms being preposed that I want fleshed out. Once I understand the implications of such then I can make a decision.
Yes the journey has been long but I have no doubt the view will be worth it…If you had bought back some of your time you would have just spent it on developing something else. The affliction of an active mind…always spent never squandered.
Probably best to use the contact details pr@maidsafe.net this is the contact email on the website so already public I suppose.
This much is very true
Pay your own tax accountant.
If the tax implications are likely to be that onerous, then you can well afford it.