Kids are cool if parents cash in on their inheritance

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Sydney, July 5 | A fascinating research has revealed that while older people are keen to spend their well-earned savings, rather than passing them on to their kids, the younger generation is just fine with this scenario, claiming that no one owes anyone anything.

Cash in on the kids’ inheritance and spend up big on the retirement plans, this is the message coming from a study by researchers at the University of South Australia.

The study explored contemporary attitudes towards wealth transfer taxation in Australia, finding that public resistance to inheritance and estate taxes may have declined in the 40 years since they were abolished in Australia.

Inheritance is the only major form of income that is untaxed in Australia.

“The lack of interest in giving or receiving inheritances meant that most participants saw no reason to object to estates being taxed, which opens potential opportunities for much-needed tax reform,” said social policy expert Dr Veronica Coram.

“Inheritances generally go to people who are already well-off and don’t need them; they encourage inequality and inhibit social mobility,” Coram added.

The researchers talked to young adults and senior Australians and two thirds of them thought Australia should consider reintroducing taxes on estates worth more than $3m, while only one in ten were definitely opposed.

“Reintroducing inheritance or estate taxation is a way of increasing government revenue, while reducing a key driver of inequality at the same time,” Coram noted.

Historically, inheritance taxes have been considered ‘political suicide’.

“But perhaps their time has come, ironically due to a growing individualism and associated decline in the assumption that family members should provide for one another,” Coram said.

Source: IANS

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Elon Musk asks hard-hitting AI engineers for job

Elon Musk asks hard-hitting AI engineers for job

Tesla founder and CEO Elon Musk on Monday tweeted that he is hiring Artificial Intelligence (AI) engineers who are passionate about solving day-to-day problems through AI

San Francisco, Dec 6 | Musk hiring engineers to solve problems that affects people’s lives. Tesla founder and CEO Elon Musk on Monday tweeted that he is hiring Artificial Intelligence (AI) engineers who are passionate about solving day-to-day problems through AI.

“As always, Tesla is looking for hardcore AI engineers who care about solving problems that directly affect people’s lives in a major way,” Musk tweeted along with a link to apply for the job.

Interested candidates can apply by filling in fields like name, email, exceptional work done in software, hardware or AI, dropping their resume in the PDF format and hitting the Apply option.

As per the website, Tesla’s AI and Autopilot unit develops and deploys autonomy at scale in vehicles, robots and more.

“We believe that an approach based on advanced for vision and planning, supported by efficient use of inference hardware, is the only way to achieve a general solution for full self-driving and beyond,” the website read.

In a 2014 interview, Musk said he looked for “evidence of exceptional ability” in a potential employee, rather than a degree from a prestigious university.

Acer launches new gaming laptop with 4K Mini LED panel

“There is no need even to have a college degree at all, or even high school,” Musk said during an interview with the German automotive publication Auto Bild about his hiring preferences more broadly.

“If somebody graduated from a great university, that may be an indication that they will be capable of great things, but it’s not necessarily the case. If you look at, say, people like Bill Gates or Larry Ellison, Steve Jobs, these guys didna¿t graduate from college, but if you had a chance to hire them, of course that would be a good idea.”

Source: IANS

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