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Income earning capacity of a home shop...

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John Hill:
Hypothetical at this time....
 
Many countries that provide an old age pension carry out a means test to determine eligibility then adjust the pension according to assets and income earning ability. This puts rather a damper on someone who is building a dream home shop to enjoy a comfortable hobby retirement if the PTB decide you should be making widgets for sale instead of model trains for the grandchildren.

At least in this country, one of the 'marks' of a commercial shop is the installation of 3 phase power. Just something to keep in mind.

Mike Cole:
At least in this country, one of the 'marks' of a commercial shop is the installation of 3 phase power. Just something to keep in mind.

What country is that then ? It cannot be the UK as otherwise I would have to say 'Total Rubbish' :poke:

Mike

John Hill:
Hi Mike, I am beginning to wish I had never made this commentn after the responses I got on another site! :lol:

However, here in New Zealand, 3 phase is usually not laid on to urban domesitc premises.  The practice is to put a transformer on the street and spread the load by connecting individual houses to single phase.

Pete49:
Thanks for the tip John. I'm not sure if it applies here in Australia as a lot of domestic places now use 3 phase for A/C but I will sus it out just in case. Still a few years to go but better safe than broke.
Pete

John Hill:
Pete, I could not be sure if it applies anywhere but I did notice that in Australia they can 'deem' the earning capacity of an assett.  Our old age pension (NZ) is not means tested, yet, but they do keep talking about it.

This idea came about when I was buying a mill and the dealer asked if it was home or business, I thought he was talking about the financial break he might have given me but when we got that sorted he asked the same question again and I realised what he was really asking was single or three phase power.

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