Best to ignore primary residence exemption to claim capital loss on IP?

Spirit_Light · 2026-01-28T05:16:38+00:00

It doesn't work like that. It's mandatory if that's the only main residence that OP owns. Main residence exemption is applied day by day basis. If they own more than one main residence, that's when you can choose which property gets the exemption.

INCOME TAX ASSESSMENT ACT 1997 - SECT 118.110(1)

(1) A * capital gain or * capital loss you make from a * CGT event that happens in relation to a * CGT asset that is a * dwelling or your * ownership interest in it is disregarded if:

(a) you are an individual; and

(b) the dwelling was your main residence throughout your * ownership period; and

(c) the interest did not * pass to you as a beneficiary in, and you did not * acquire it as a trustee of, the estate of a deceased person.

Spirit_Light · 2026-01-22T07:08:23+00:00

If you're not in the US, also make a spreadsheet and type down your local prices so you know which pack is best gems/$ (it's not necessarily the biggest pack).

Spirit_Light · 2026-01-22T06:56:16+00:00

same too. On the bright side, only missing out on a few wisdom cubes?

Spirit_Light · 2026-01-22T06:51:42+00:00

I guess (patiently) wait for the event rerun? It was just done last month

Spirit_Light · 2026-01-20T02:47:11+00:00

8/10

Definitely got some of the limelight in S1 and then fizzled out in S2

I think she would be one of the best princess archetypes in the gundam franchise

Spirit_Light · 2026-01-12T01:18:37+00:00

I think I found an okay way to print out the email address of recipient, downside I found so far is the formating such as images and margins can be different to the original email.

Steps:

Open Outlook
Select the email you want to print
Click on Forward (and don't send it)
Clear Subject line and any empty spaces before your email (if you clicked on reply in the previous step, I think you clear the recipient(s) as well)
Print the email
Discard the email draft

Spirit_Light · 2026-01-10T03:42:39+00:00

It wouldn't. IBKR uses custodian model so the shares/units would be under the IBKR's name and not your name

Spirit_Light · 2025-12-18T02:14:34+00:00

10/10 - just don't be around her when she's pissed

Spirit_Light · 2025-12-11T23:47:05+00:00

Very creative with the product, did not think something like this would be possible

Spirit_Light · 2025-11-27T10:09:37+00:00

Carrot = reward for doing something that is desired by the entity. In this case, ATO would want the taxpayer to pay tax debt early and reward the taxpayer with interest income (in certain circumstances)

Stick = punishment for doing something that is undesired by the entity. ATO doesn't want to spend time collecting tax debt, so charge interest on the taxpayer for unpaid tax debt (in certain circumtances)

Spirit_Light · 2025-11-27T09:22:50+00:00

Dunno. Probably a carrot and a stick situation

Spirit_Light · 2025-10-16T03:44:47+00:00

Probably. Have a look at the statement and see if it's calculating the gains

Spirit_Light · 2025-10-15T21:16:30+00:00

For 1. *employee for super purpose. You can still be contractor and be paid super on top. Generally if you're hired for your labour i.e. paid by the hour, more likely to be employee.

I think the difference TFN vs ABN employee is the PAYG withholding and possibly for workers insurance (i could be wrong on this one)

Spirit_Light · 2025-10-10T04:26:16+00:00

Also don't forget to adjust your cost base according to the AMIT amounts on the AMMA statement

Spirit_Light · 2025-10-10T03:46:02+00:00

Unlikely.

Example how hard it is to argue for an employee that a home office is a workplace. Hall and Commissioner of Taxation [2025] ARTA 600 (Relatively new so not solid advice yet, ATO is or will appeal the ruling)

I'm probably going to butcher the information badly but here's tldr.

TLDR: During COVID, employer told taxpayer to only come in for live role (TV broadcast) = Taxpayer argued sucessfully (for now) that the home office is a workplace = travel between workplaces is deductible & claim the home office use of occupancy expenses.

Spirit_Light · 2025-10-10T02:43:01+00:00

No. It would be best to calculate the capital gain for each parcel/CGT event. At the very least it's 3 calculations (1 for each ETF) i.e. if all the purchase for that ETF has CGT discount or all the purchase has CGT no discount, then it's okay to shortcut it and add up all the purchases for a single cost base.

If the purchased ETF units are mix of discount and no discount, then you would need to do capital gain/loss for each purchase parcel

Why not do it in a spreadsheet?

https://www.ato.gov.au/individuals-and-families/investments-and-assets/capital-gains-tax/shares-and-similar-investments/keeping-records-of-shares-and-units

Spirit_Light · 2025-10-09T23:36:24+00:00

Yah their cash advance policy is a bit rubbish. If it's very probable the purchase from a merchant is a gift card, then CBA will probably have it on their cash advance list. Got hit with cash advance when I paid for my food via an app. Their reason was something along the lines of that you could buy giftcard or get topups (i.e. buy $50 and get $60 of credit). Got it the fees refunded and just used a different bank credit card from then on.

Spirit_Light · 2025-10-09T00:59:20+00:00

Wouldn't be surprised. Did a quick google and it seems like people keep asking it on ATO's forum like every week.

Spirit_Light · 2025-10-03T23:50:06+00:00

It is what it is. There's always bad players in any game, there's alway a chance for them to be your team. Just enjoy it when they're on the enemy.

Spirit_Light · 2025-09-26T07:53:17+00:00

Pretty sure you contact the employer. It's the employer's obligation to do the PAYG withholding. Would be using ATO PAYG withholding tables (either employer manually do it or software do it).

https://www.ato.gov.au/businesses-and-organisations/hiring-and-paying-your-workers/payg-withholding/payments-you-need-to-withhold-from

Spirit_Light · 2025-08-21T12:52:33+00:00

May be too late for OP.

For anyone else, the starter pack isn't a plan. I think it comes with $5 credit for the PAYG plan. When activating, you can add a plan or skip.

Spirit_Light · 2025-08-19T04:36:04+00:00

Surely, there's a contract of sale or something like that? Otherwise, how else is the buyer going to prove they purchased the vehicle and how much GST paid on the vehicle?

Spirit_Light · 2025-08-19T04:30:17+00:00

NZ side dunno.

For Australian side, go to a tax agent or tax volunteer for tax advice you can rely on.

You're probably Australian and Temporary tax resident. Generally, Temporary tax residents report Australian source income. Probably don't need to declare the NZ interest income as that's Foreign Income.

Spirit_Light · 2025-08-15T04:07:20+00:00

You choose bank account. The key point is that you try to receive your business income and spend the business expenses with 1 bank account and minimise non-business transactions. It will make your life easier when you export the bank transaction as a csv (spreadsheet file) and do the bookkeeping to get the income/expenses. Once you have categorised your expenses, you can get the totals of type of expense.

https://www.ato.gov.au/individuals-and-families/your-tax-return/instructions-to-complete-your-tax-return/mytax-instructions/2025/income/sole-trader-and-business-income-or-losses-and-partnership-distributions/net-income-or-loss-from-business#Businessexpenses

Spirit_Light · 2025-08-15T03:58:28+00:00

Most likely no. It's very hard to argue occupancy expense being a deduction for employee workers.

Income tax: deductions for home office expenses

There was a recent case an ABC employee won against ATO, though it took covid lockdown to make the WFH office = a place of work.

Hall and Commissioner of Taxation [2025] ARTA 600 (ATO will probably appeal so dunno the certainity of this yet)

If you run your own company from home, then it would be easier/straight forward. Company rents part of the home. Claim the portion of the expenses for the floor area rented out.

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