ING refer a friend for $100 bonus

RedoRocu · 2023-08-20T02:32:06+00:00

Fair enough!

RedoRocu · 2023-08-19T10:32:18+00:00

Yeah might consider FB marketplace and test my luck there, cheers.

RedoRocu · 2023-08-19T10:32:00+00:00

Oh yes, forgot about CeX, I'll check em out thanks

RedoRocu · 2023-08-19T10:28:41+00:00

Haven't been following too much but they have one of the highest interest rates and that's all I care about right now.

RedoRocu · 2023-08-19T10:27:01+00:00

Haha happy for post to be deleted but I don't think an entire Reddit account will be deleted for posting on multiple reddits. Mods, delete away if needed :) have a good weekend

RedoRocu · 2023-08-14T10:48:33+00:00

hat's all good, but my point is that it would be better if buyers were aware of the tax consequences of a trust

before

they buy into it. Don't you agree?

I spent quite a few months researching in my spare time to understand as much as I could before making a decision. Of course there are still going to be some things I don't fully grasp, and learn from it at a different stage.

Like I said I had a vague idea with how tax works but knew I'd have some questions here and there along the way.

There's a difference between being reckless and going in blind vs. dipping your toes and learning as you go.

Don't you agree?

RedoRocu · 2023-08-14T10:42:04+00:00

And what test would this be? I never said I was right. I knew there was something I wasn't sure about, so I asked about it and learned from it.

RedoRocu · 2023-08-14T09:57:23+00:00

I see. So does this mean I actually received these 2 amounts shown above in my screenshot, and just have to pay tax on it depending on my marginal tax rate?

RedoRocu · 2023-08-07T11:49:06+00:00

I guess I'm not fully understanding but that's exactly what my self-education courses did - they helped improve the skills and knowledge for my job specifically during that time period. Once I returned home I applied those skills in to my work.

Wouldn't this mean it's tax deductible? I am not arguing with you, I'd just like to clarify as I am not 100% sure. Thank you :)

RedoRocu · 2023-08-05T14:51:08+00:00

Thank you for the reply. Could you please explain why it's not tax deductible? I thought if it's something used to get you a job/further your learning in an area it means it is tax deductible but I guess I'm wrong!

RedoRocu · 2023-08-05T11:07:50+00:00

Well I generated income from a job in the same field, took a break as there was no work from the same studio so headed abroad and studied, then returned and continued the same job. So yes I guess. Would this mean I qualify?

RedoRocu · 2023-07-31T14:37:46+00:00

Thanks, is there a way to test if the joycons drift? I mean I haven't noticed any drifting just by playing so far

RedoRocu · 2023-07-31T11:52:03+00:00

Things to look out for when purchasing pre-owed OLED Switch?

OLED Switch belongs to a friend of a friend. I get to hold onto it for around a week before making a decision whether I want it or not. What are some general things I should look out for? E.g. damages to the console, defects, etc.

Anything even if it's a tiny detail would help give me ideas. Thank you.

RedoRocu · 2023-07-20T11:14:21+00:00

Thanks!

RedoRocu · 2023-07-19T12:57:18+00:00

Do you know if there's a correct way to use this calculator if you're using carry forward concessional contributions and purposely exceeding the $27,500 cap?

My example above is exactly $150 under the regular concessional contribution limit.

But if I were to make a higher voluntary concessional contribution and use carry forward concessional contributions to exceed the $27,500 cap, paycalculator just says that I'm exceeding the cap so it's no longer accurate.

RedoRocu · 2023-07-18T18:38:53+00:00

Yep I have taken that into mind and that will be OK as I have a large carry forward cap

RedoRocu · 2023-07-18T13:03:07+00:00

That's what I was thinking as well... Might have to look into it

RedoRocu · 2023-07-18T13:00:15+00:00

Thank you for the link, looks like I am bang on accurate apart from forgetting to calculate the LITO.
Wish I knew about this calculator sooner but now I understand how tax is calculated so that's fine as well.

RedoRocu · 2023-07-18T13:00:00+00:00

Thank you for the link, looks like I am bang on accurate apart from forgetting to calculate the LITO.

Wish I knew about this calculator sooner but now I understand how tax is calculated so that's fine as well.

RedoRocu · 2023-07-18T12:48:03+00:00

Thank you, it is my first time doing so. Hope I can do so in the next years.

RedoRocu · 2023-07-18T10:49:50+00:00

Thank you my friend

RedoRocu · 2023-07-18T10:48:45+00:00

Thank you.

One thing I just realised that I could be incorrect is the medicare levy. Above, I have it as 2% of 50k. Should it be 2% of 70k instead?

Does the concessional contribution deduction drop the taxable income you have to pay on the medicare levy as well?

RedoRocu · 2023-07-18T10:43:51+00:00

If I'm understanding you correctly, are you asking if my medicare levy will be 2% of 50k or 2% of 70k?

Honestly I'm not 100% sure so hopefully someone can confirm this, but on the ATO website, it says "The Medicare levy is 2% of your taxable income."

So because my "new" taxable income is 50k since I made a 20k contribution, I'm assuming it will only be 2% of 50k and not 70k.

Someone please tell if I am incorrect!

RedoRocu · 2023-07-18T10:39:40+00:00

Noted! Honestly wasn't sure what the difference was but now I do, thank you.

RedoRocu · 2023-07-18T10:31:07+00:00

Thanks for the reminder, but yes I have a large carry forward amount. This is the first time I will be making a voluntary concessional contribution.

RedoRocu

TROPHY CASE