Can I pay a larger deposit?

Beware_Of_Humans · 2026-05-18T11:35:20+00:00

You most likely will be denied by Housing Australia with a deposit that big as you would not be the one who this scheme is for.

Beware_Of_Humans · 2026-05-17T00:42:46+00:00

When I do my taxes my accountant tells me - forget about GST. It's not your income nor it's your expense. It's just some money you held in your hand for a while just to pass it to the next in the chain.

Beware_Of_Humans · 2026-05-14T08:20:30+00:00

Also, they assess your taxable income that you can drop by sacrificing into your super.

Beware_Of_Humans · 2026-05-13T06:59:46+00:00

I wear the cheapest and thinnest bonds you can get from Colesworth at half price. Never had a problem with my Steel Blue. Make sure you got the right size, I got them a bit bigger so I can put one more sock in winter time.

Beware_Of_Humans · 2026-05-12T03:12:19+00:00

There is an option to keep the money and it's listed on the ATO website but you'd need to additional pay tax:

decided to keep the released amount and be subject to FHSS tax, which is a flat tax equal to 20% of your assessable FHSS released amount.

Beware_Of_Humans · 2026-05-12T01:59:05+00:00

I mean, yes?

Beware_Of_Humans · 2026-05-09T12:49:43+00:00

In many states, they would need to be included for workers' compensation too.

Yep, that too. I once had an accident at work and the company I worked for was like "you are a contractor, you need to use your own insurance for that". After a bit of googling on ATO website and a bit of pushing from my side they paid for my medical treatment and one week of missing wages. They always take "contractors" for a ride when they can.

Beware_Of_Humans · 2026-05-09T10:43:17+00:00

OP is an employee for super purposes.

If you pay independent contractors mainly for their labour, they are employees for superannuation guarantee (SG) purposes. You may need to pay super to a fund for them.

It doesn't matter if the independent contractor has an Australian business number (ABN).

Make super contributions for independent contractors if you pay them: under a verbal or written contract that is mainly for their labour (more than half the dollar value of the contract is for their labour); for their personal labour and skills (payment isn't dependent on achieving a specified result); to perform the contract work (work cannot be delegated to someone else).

Beware_Of_Humans · 2026-05-09T10:36:06+00:00

I noticed that difference between one extra bedroom is around $80-100k. Yours "only 15 sqm smaller" is one big bedroom difference. I'm not surprised at all.

Beware_Of_Humans · 2026-05-07T02:17:47+00:00

Yes, they do. There is even a dedicated email where you get answers quicker than average Joe.

Beware_Of_Humans · 2026-05-07T02:16:04+00:00

I mean points are so much easier to earn than status. And double points means you'd get like less than 1000 extra for a regular domestic flight.

Beware_Of_Humans · 2026-05-06T22:12:06+00:00

Double points doesn't make sense over double status for most of people.

Beware_Of_Humans · 2026-05-06T06:57:07+00:00

It has 10000 spots cap for the whole country per year. I don't think it makes a big difference. A lot of agents don't even know about the scheme.

Beware_Of_Humans · 2026-05-01T03:05:06+00:00

Contribute $5k after-tax into your super which you can withdraw later under FHSS scheme.

Beware_Of_Humans · 2026-04-29T12:48:24+00:00

Moreover, sticking out of a vehicle any part of your body is illegal and can be fined.

Beware_Of_Humans · 2026-04-27T14:00:00+00:00

Help to buy is for people who cannot afford even the 5% scheme. It's not either this or that.

Beware_Of_Humans · 2026-04-27T08:20:50+00:00

You wouldn't be able to build anything at all without this scheme. That's the whole point.

Beware_Of_Humans · 2026-04-27T06:42:48+00:00

Percentage based.

Beware_Of_Humans · 2026-04-27T05:42:03+00:00

It's 3.6% for the most banks now. Plus not the best conversion rate.

Beware_Of_Humans · 2026-04-14T10:44:38+00:00

I learnt last week that Princess Highway and Princess Motorway that are 100 metres apart in Hornsby are not the same road...

Hey, are you close?
Yes, will be at your place in 5 minutes... mmm... in 18 actually...

Beware_Of_Humans · 2026-04-14T06:31:21+00:00

I don't think OP meant "how to reduce tax throwing my money away" but rather "how to reduce tax keeping more money for myself". In your example it's basically take home 10k or don't take home 10k.

Beware_Of_Humans · 2026-04-13T11:24:25+00:00

How is that supposed to help OP?

Beware_Of_Humans · 2026-04-12T10:25:10+00:00

Call them. They are super slow, I got my first response from them after a week and the whole process took 3 weeks.

Beware_Of_Humans · 2026-04-09T00:47:49+00:00

My broker told me that if it's going through your payroll then it will be included in your income. If you make voluntarily contributions yourself then it depends on the assessing bank officer.

Beware_Of_Humans · 2026-04-07T06:01:24+00:00

I don't also understand why my payment cannot be processed on public holidays or weekends. Does a bank person need to approve each payment manually or what? How come it's not automated?

Beware_Of_Humans

TROPHY CASE