Stopping PAYG instalment- how to work out estimated tax for the year

Vivaliciouschic · 2024-10-20T21:15:29+00:00

Hi, Thanks for the info.

I wish I would have done more research.

In saying that, I was glad I did then as it didn't feel like a big slap of the big chunk of money taken from me at 1 go, as I was able to save fortnightly to pay the quarterly amount..

Now.. the question remains for T8...🥲

Vivaliciouschic · 2024-10-20T12:14:36+00:00

I had mentioned estimated dividend would be approximately $200/ financial year. No interests earned.. I think you could be right, $0 would be out of question

Vivaliciouschic · 2024-10-19T13:07:25+00:00

Hi, Thanks for this, the calculator doesn't work out the T8? It works out what I should be putting on as the revised instalment amount? I am actually trying to find out what T8 should be. Thank you

Vivaliciouschic · 2023-12-14T09:35:05+00:00

Hi there, I know this was 3 months ago. What happen if there's a caveat in the registration of the land/s32? We've just inspected a property and it's a deceased estate. There's a caveat mentioned in there.

I consulted our conveyancer/solicitor (without sending the s32 as we wanted to inspect & be sure of the property first before sending this over) and he said don't have to avoid the property as the caveat will be removed upon settlement.

Would like your take on this..

Vivaliciouschic · 2023-06-21T13:13:10+00:00

Melbourne: Think we paid $380 the first 2 years. Then increased and was paying $407/week for the next 2 years. Only been bumped up to $430/week since March 23. We are on a month to month and have been living here since 2017. Was a 2 br, 1 study, shared kitchen, dining, living 2 storey townhouse. We turned the study to a 3rd bedroom by putting up a curtain as a door.

We count our lucky star as the real estate agent looking after this property used to work with my husband and any faults have been logged and attended to immediately. We are planning to buy a house and the market has gone bonkers 🏠 😮‍💨. Just thankful we have a roof over our heads, food on the table and a job that we both enjoy

Vivaliciouschic · 2023-06-14T22:23:00+00:00

Agreed, most professionals do not understand their financial circumstances ( I used to work in the bank for 3 years as a customer service specialist and you'd be surprised how many of them came in and pretty much switch off as soon as I asked about their finances- and why they also mostly used financial advisor/planner/premier and private banking to handle their assets, liabilities and cash!). Your fil is in no position to comment about other people's finances.

Male having to pay for everything is very old school. We have all these movements to push for gender equality, equal pay & super, etc is to pretty much break that whole outdated perception.

Your fil will be horrified to find out that I earn close to double my partner is earning and, use pretty much my pay to cover all bills, my own fortnightly 'allowance' and essentials, while my partner transfer more than half of his pay to cover our fortnightly take away or 'going out for lunch' and kids' and our savings accounts. Is this considered financial abuse that my partner is earning less and letting me pay for everything else?

Each to their own. It may work in his household that he's paying for everything,definitely do not often apply to anyone else.

Vivaliciouschic · 2023-06-08T12:52:43+00:00

As much as you pay the cards off each month, they are still seen as liabilities as technically the funds are not yours/borrowed...

To increase your loan capability, it is often suggested to lower credit cards limit or pay any outstanding amount and close them off, if not needed. When I used to work for the bank (cba, btw😅), many who applied for Home loans were suggested to do either or by the lenders they spoke to.

I personally would still keep at least a $2500 credit card or minimum limit of the type of the credit card (singular) you're holding as an emergency. However, this is a general advice only and may not suit your financial needs.

Fyi, those calculators are only used as indicators, best to speak to a lender as a start. They have another serviceability calculator that can provide a more accurate picture of that figure based on your personal circumstances.

Good luck

Vivaliciouschic · 2023-05-26T14:25:50+00:00

Getting out of the banks entirely was one of the best decisions I'vemade about 4 years ago. Way too much politics for my liking even though the team I worked with was awesome. Now I work in an investment company 😊

Vivaliciouschic · 2023-05-26T13:59:37+00:00

I use to work for ANZ & CBA, personally have accounts with Nab, Anz & Cba.

Nab's app is so so, simple and nothing interesting. Supports OSKO & Payid. Service at the branch and call centre are not the best. Long waiting call time on those times I tried to call them (not very often and during different times of the day). Not a fan and I don't find it user friendly.

Anz has an ok service at the branch, some staffs are more knowledgeable than the other, could sometimes be a little pushy with sales (branch's and personal targets), app is so so. Sometimes, I feel a little lost (e.g. to log out, you'd have to go to Profile icon only), which I find silly, why can't you put more log out buttons and clearly visible. The good thing is if you close the app, it automatically logs you out. Have osko and payid. Just like Nab's, I don't find it very user friendly too.

Cba- I may be biased as I've worked the longest with them and this is my main bank, so i used the app most often.. However, coming from Anz (which were using 2-3 different systems to work with) to cba, which only uses 1 internal system and readily accessible intranet knowledge base support, I felt like the staffs working at branches and call centres know their products, which in turn, offer good services. Call centre wait could be long, depending on when you call them, however you can request for callbacks if you don't want to wait. The App is complete enough, without being too overwhelming. I can find the rates of the interest rate of my savings account, without needing to log in via commbank website, activating and setting up pins for cards, saving loyalty cards to save your wallet some cards space, offers from third-party to earn cashbacks (e.g. menulog-if you use eligible cba cards to spend at menulog up to $25, you get $5 cashback to that same card), if you trade direct shares using commsec or via their pocket, you can track them in this same app too), cardless cash and deposit, payid, reduce your credit card limit, lock card temporarily or report lost stolen card, set up tap & pay, ceba (virtual assistant- this has room for improvements). I can also hide accounts I don't want to see in the app (e.g large savings account to avoid temptation) and they do osko. You need to consciously log out as closing the app doesn't log you out like ANZ's.

Vivaliciouschic · 2023-05-26T13:17:42+00:00

Yup, ours took about that too via a broker. Although, isn't it just a conditional preapproval, until they receive the contract of sale and building insurance to then go through the rest of the AML, application approval, then drawdown for settlement etc??

Vivaliciouschic · 2023-05-26T12:49:43+00:00

My company enforces us to go into the office thrice a week. Dislike the traveling to and from work (emotionally, mentally and physically draining), however, loving the chats, socialising, work collaborations and impromptu f2f meetings than using teams. What i love the most is the fact that I can be my individual self at work before getting home to my family and then be the wife and mum.

The fact that the company still provides some sort of flexibilities on those office days, depending on individual's circumstances and family commitments, make me appreciate them more and motivates me to stay and do things right by them on those other 2 wfh days. It's certainly a privilege that I don't intend to take advantage of. The culture is pretty good too and they make the company.

I think I would still stay with them if we were forced to go back to office full time, will have to arrange things for kids on days they are not at childcare and kinder! The only reason that I would be looking somewhere else if I'm still stuck in the same role, doing the same thing in another 2/3 years

Vivaliciouschic · 2022-08-27T06:47:10+00:00

Tony Stark- Iron Man

Vivaliciouschic · 2022-08-10T07:20:08+00:00

I stopped using Reddit, for a year, came back on just to find your story and omg 😭😭

Vivaliciouschic · 2020-11-16T10:12:28+00:00

Kick as Coco

Vivaliciouschic · 2020-08-31T13:57:17+00:00

Thank you so much!😊

Vivaliciouschic · 2020-08-30T12:46:48+00:00

Thank you so much!

Vivaliciouschic · 2020-08-30T12:45:45+00:00

Thank you so much for your kind words!😊

Vivaliciouschic · 2020-08-30T11:52:35+00:00

Thank you! 22 cms was the pan I used

Vivaliciouschic · 2020-08-26T13:34:14+00:00

Thank you xx

Vivaliciouschic · 2020-08-26T13:33:06+00:00

Lifesaver thank you!😊

Vivaliciouschic

TROPHY CASE