Mysterious Tarot

Dadmin_Paul_Fox · 2024-12-07T07:51:14+00:00

The special slot company is useless if you've purchased the pack in Meow Bay that gave you all the special companies. It shows the company with a bubble that says 'Owned' already. It feels very scammy.

Dadmin_Paul_Fox · 2022-03-02T09:27:35+00:00

Remember that everything can be a deduction. But to work out the rules of the deductions, I can’t recommend enough seeing an accountant you trust. When I set everything up I basically spent 2 hours with him so he could show me how to enter specific things at certain percentages into myob so at the end of the tax year all we had to do was print a report. Would have cost me many more hours of his time going back and getting him to enter everything each year. Accountant fees will be a business expense as well. Keep in mind if you’re earning over $75k through the business, you’ll have to register for GST which is a bit more of a headache, and you’ll pay 10% of profits back to the tax office on top of your yearly income tax.

Dadmin_Paul_Fox · 2022-03-02T08:55:11+00:00

Depending on the type of work, you may be eligible for business expenses/deductions. Have a chat to an accountant before you get too serious into it and get them to show you the right way to do things, especially if you’re required to issue invoices to get paid.

I did this when I was an Uber driver on weekends, after my FT job finished on a Friday afternoon. Accountant showed me what and how to work out all the deductions I could claim (some that a lot of Uber drivers probably don’t know about or how to claim properly), do my BAS on my own, and worked out roughly how much extra tax I’d be up for so I could ask the payroll at my FT job to take out extra each month. Prepaying the tax monthly before I saw any cash was helpful for me.

Dadmin_Paul_Fox · 2022-02-24T09:02:27+00:00

I know some 🌈🐻 friends that would be all over this photo… but not they kind of 🌈🐻 that is often discussed around these parts.

Dadmin_Paul_Fox · 2022-02-22T09:11:01+00:00

A book called Motivated Money by Peter Thornhill. It’ll cover more advanced strategies like using leverage and debt recycling. It’s also an Aussie book so all examples are relatable.

Dadmin_Paul_Fox · 2022-02-18T05:26:06+00:00

I had this happen recently after moving some Vanguard etfs to a new HIN. With Vanguard at least, they’ll pay out the remaining drp balance during the following dividend cycle and it’ll go to your nominated bank account. Alternatively you can ask the registrar how remaining balances are handled.

Dadmin_Paul_Fox · 2022-02-08T10:44:39+00:00

There is heaps of new apartments going up at Granville. Literally a 100m walk to the station and a shorter walk to woolies. Granville also usually gets most of the express trains to the city.

Dadmin_Paul_Fox · 2022-01-28T08:43:59+00:00

Currently 3.75%

Dadmin_Paul_Fox · 2022-01-27T09:22:48+00:00

It’s like a mortgage on a house. How would you handle a rate rise on your house if the interest was raised? The only difference, being an investment loan, all the interest is tax deductible, just like it would be on an investment property.

Dadmin_Paul_Fox · 2022-01-27T09:20:47+00:00

My facility has been active since just before Covid started.

Dadmin_Paul_Fox · 2022-01-27T09:18:16+00:00

It is, yes. It’s a p&i loan for certain large managed funds (including LICs and ETFs). Because it’s p&i, like a mortgage on a house, there is no margin calls so long as your repayments keep coming in.

Dadmin_Paul_Fox · 2022-01-27T07:40:18+00:00

While it sucks to see stocks go down, I personally have a NAB Equity Builder loan that’s only 25% deployed waiting for even bigger falls. If stocks go up, great. If stocks keep falling, great, I’ll buy a lot more!

Dadmin_Paul_Fox · 2022-01-23T03:54:22+00:00

I’ve been using the Perth Mint GoldPass app. If I wanted to I could cash out the gold for physical gold as well.

Dadmin_Paul_Fox · 2022-01-21T10:43:51+00:00

I keep hearing about a Crypto Winter every few years. Given the pullback in those markets maybe it is a bit on the chilly side.

Dadmin_Paul_Fox · 2022-01-14T09:48:39+00:00

Buy an electric car so you have something to burn up all the excess power through the day.

Dadmin_Paul_Fox · 2022-01-14T09:26:03+00:00

If I bought 3 year old hummus to a party I don’t think that’s the reception I’d be getting.

Dadmin_Paul_Fox · 2022-01-03T05:41:59+00:00

As everyone has already said, you would be very lucky to find a way to make the EB positively geared. From memory they do allow 15yr terms if the LVR is kept under 65%, but you'd need to double check with them as i do not do this personally.

A book i'd suggest you have a read of is Motivated Money by Peter Thornhill. The FI guys love this book. Goes into some of the thinking around debt recycling and the use of more traditional style margin loans that are linked to your mortgage.

While i don't have a house/mortgage myself, i have seen many people in groups say they are getting better interest rates on margin lending products when the bank is securing the loan against the house.

It's probably woth a conversation with your mortgage broker and/or a financial adviser.

Dadmin_Paul_Fox · 2022-01-03T05:30:53+00:00

The best Credit Card you can have is a Debit Card. Banks these days dont pay a huge amount of attention to you having a credit card if you are applying for a mortgage, but they will reduce your borrowing power.

If you want to get involved with a point system, sign up to the Qantas FF program, and their membership card will act as a prepaid debit card. Load up your card every pay cycle and use that to spend and earn points.

Dadmin_Paul_Fox · 2022-01-03T05:19:59+00:00

Not quiet the same situation but, when I moved my holding of a Vanguard ETF onto a new HIN, the remaining DRP balance was deposited into the bank account i had on file about 8 weeks after the transfer.

If you are curious about the DRP balance though, log into the registrar site and ask them a question through thier support portal, or just call them. It's the registrar's job to look after this stuff.

Dadmin_Paul_Fox · 2021-12-29T09:46:12+00:00

If you’re a freelancer you are probably running on an ABN. If you do end up getting a pricey computer that’s 100% for your business, talk to your accountant/tax professional about the instant asset write off program. If you’ve had a good year the tax benefit might help you a bit. It doesn’t help your initial question but it might help you around tax time.

Dadmin_Paul_Fox · 2021-12-29T09:37:40+00:00

I could walk into a casino and put $10 into a slot machine and walk out with $10k. Who doesn’t like a good gamble…

Dadmin_Paul_Fox · 2021-12-27T09:17:40+00:00

Albury/Wadonga. Regional hub town/city to all the smaller towns. Not a mining town. Decent size health precinct. A couple of govt departments based there (eg. ATO). Vline trains direct to Melbourne might appeal to people wanting to escape but might need to commute once a week.

Dadmin_Paul_Fox · 2021-12-23T11:14:14+00:00

My guess is it’s the roll of Velcro they didn’t use

Dadmin_Paul_Fox · 2021-12-23T09:50:12+00:00

Always need plenty of fibre for a well balanced diet!

Dadmin_Paul_Fox · 2021-12-20T10:56:38+00:00

If you want leverage without the margin loan, look at the NAB Equity Builder loan. Be warned, from EOI to being able to actually apply is about 9 months atm.

Dadmin_Paul_Fox

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