Milk Price III

mahoney_j

K.G. wrote: »

Absolutely ,to me its the coop protecting itself rather than its members and should n OJ t be neede

And after the last 6 months the coop(Arrabawn. )needs a lot of protecting .....

whelan2

Glanbia will pay 30.68 cpl base price an increase of 0.5cpl for December milk. Then there's 0.42cpl members share of profit and another top up of 0.4cpl.

whelan2

My dad is transferring glanbia co op shares to me. I will pay 1% stamp duty as no money is being paid do I still have to pay capital gains? Are they valued at 5 euro each for this? I have been told 2 different things from 2 different people

wrangler

whelan2 wrote: »

My dad is transferring glanbia co op shares to me. I will pay 1% stamp duty as no money is being paid do I still have to pay capital gains? Are they valued at 5 euro each for this? I have been told 2 different things from 2 different people

No , You only pay CGT if you sell or transfer an asset, they're worth very little, they were worth nothing for years and then the spinouts came. now they say there'll be no more spinouts.

Tonynewholland

wrangler wrote: »

No , You only pay CGT if you sell or transfer an asset, they're worth very little, they were worth nothing for years and then the spinouts came. now they say there'll be no more spinouts.

Does that mean the person who is transferring is liable

wrangler

Tonynewholland wrote: »

Does that mean the person who is transferring is liable

They'd be lable if they weren't retired, I think there's allowance in CGT in transfers from parents to child, retirement relief or something, it's better to talk to your accountant any way

whelan2

wrangler wrote: »

No , You only pay CGT if you sell or transfer an asset, they're worth very little, they were worth nothing for years and then the spinouts came. now they say there'll be no more spinouts.

They are worth the 5 euro. They will not split the shares to spread it over two years. We had planned on using the 3k gift thing over 2 years. 1000 shares is the smallest they will transfer. So will do the whole lot now, use the 3k gift thing and pay 33% cgt on the rest later in the year. Even though money is being paid for them

Mooooo

Accountant should know best way in that regard

wrangler

whelan2 wrote: »

They are worth the 5 euro. They will not split the shares to spread it over two years. We had planned on using the 3k gift thing over 2 years. 1000 shares is the smallest they will transfer. So will do the whole lot now, use the 3k gift thing and pay 33% cgt on the rest later in the year. Even though money is being paid for them

Are you sure you're not referring to Capital Aquisition tax

whelan2

wrangler wrote: »

Are you sure you're not referring to Capital Aquisition tax

Accountant looking after it

wrangler

whelan2 wrote: »

Accountant looking after it

Hope he knows what he's doing, doesn't sound like it

whelan2

wrangler wrote: »

Hope he knows what he's doing, doesn't sound like it

He knows more than me

Castlekeeper

Are the accountants farm specialists? If not it might be worth getting a second opinion. Although it seems straightforward, the ongoing Kerry patronage share tax case is based on an obscure Revenue official's view, based on a pre war English chicken co-op precedent, that tax should be paid on the receipt of the shares, not their disposal.
Like many laws, it's often unclear.

wrangler

Castlekeeper wrote: »

Are the accountants farm specialists? If not it might be worth getting a second opinion. Although it seems straightforward, the ongoing Kerry patronage share tax case is based on an obscure Revenue official's view, based on a pre war English chicken co-op precedent, that tax should be paid on the receipt of the shares, not their disposal.
Like many laws, it's often unclear.

That's the reason I was flagging there was something wrong, CGT is paid on sale or disposal, CAT is paid on gift or inheritance or whatever, Whelan would be allowed receive a lot from her father CAT free (€3m euros+ worth of land or €300000) and even if she had her full allowance used she's entitled to €3000/yr Capital Aquisition tax free. When CPOs were flying around here, some CGT assessments were definitely got wrong.

Gawddawggonnit

Price dropped by 1cpl for Feb and 1.5cpl for March. They’re quoting ‘market difficulties’...restaurants closed etc.

2021 is shaping up to be a beaut.

Mooooo

Gawddawggonnit wrote: »

Price dropped by 1cpl for Feb and 1.5cpl for March. They’re quoting ‘market difficulties’...restaurants closed etc.

2021 is shaping up to be a beaut.

Does the coop have the facilities to process into powder etc or is it all fresh product they make?

straight

Gawddawggonnit wrote: »

Price dropped by 1cpl for Feb and 1.5cpl for March. They’re quoting ‘market difficulties’...restaurants closed etc.

2021 is shaping up to be a beaut.

Ration prices, fertiliser, machinery all increasing. Milk replacer increasing in February I'm told. Milk prices have to rise and I fully expect them to.

kevthegaff

Would ye fix at 32c for the next 3 years for a certain portion

mahoney_j

kevthegaff wrote: »

Would ye fix at 32c for the next 3 years for a certain portion

Would fix at 32 no issue Kev but Arrabawn’s few little conditions turned me right off I put in for 10% with option of 10 more but after thinking about it and reading the conditions I fixed nothing

kevthegaff

Was it on condition on buying feed

Wilhelm III

Ah yes Milk Price the third - I knew* him well! His father Milk was a great lad for the stories!
*Apologies lads, don't mind me - I couldn't help myself there. As you were, I'll be off now, I'll not be back, just having a bit of craic there, alright now, best of luck, OK so, byebye. See you now...

Gawddawggonnit

Mooooo wrote: »

Does the coop have the facilities to process into powder etc or is it all fresh product they make?

Yes, cheeses etc. The only powder they make is baby formula.

Castlekeeper

straight wrote: »

Ration prices, fertiliser, machinery all increasing. Milk replacer increasing in February I'm told. Milk prices have to rise and I fully expect them to.

Great, good to know that for my meeting with the bank manager ...

whelan2

Anyone else get a text from fmp that glanbia are reducing all milk supplied by liquid and acs farmers by 0.4cpl in January?

stanflt

whelan2 wrote: »

Anyone else get a text from fmp that glanbia are reducing all milk supplied by liquid and acs farmers by 0.4cpl in January?

No what did the text say

I questioned all the journalists and Glanbia last week about how they didn’t report the price drop- nobody had the decency to reply

whelan2

stanflt wrote: »

No what did the text say

I questioned all the journalists and Glanbia last week about how they didn’t report the price drop- nobody had the decency to reply

Another farmer sent it to me from fmp. I normally get texts from them. Fmp just said markets are strong so we shouldn't be being docked, it's also on All milk supplied

jaymla627

whelan2 wrote: »

Another farmer sent it to me from fmp. I normally get texts from them. Fmp just said markets are strong so we shouldn't be being docked, it's also on All milk supplied

They had a "support payment" of .4cl on dec milk that they have pulled, I never thought they would take the piss like they and all other co-ops have on winter milk prices, no co-op should be paying below 33 cent a litre base price as the minute going of the gdt and oruna price index, with fuel,fert, and meal skyrocketing in price they need to start upping prices simply just to track inflation in input prices

whelan2

Just got the text there now

Castlekeeper

Kerry paying 32 incl VAT for January.

Mooooo

Dairygold held at 31.5c base for Jan
Edit there is a 3cent early calving bonus added to that for Jan milk