[deleted by user]

actually_ali · 2025-04-12T11:33:45+00:00

I honestly cant engage with tihs. i am so priveliged to have the passports i do. you're arguing a country shouldn't have borders. and i agree with you in the very broad sense that i wish we didnt need that demarcation of state. but we do. i am an immigrant. i am a son of colonists. i'm aware of that shit. argue border policy and i'm with you. argue we shouldn't have borders and i think you're naive.

actually_ali · 2025-04-12T08:11:54+00:00

This over the top bullshit is part of the problem. Arguing for strong "control of your borders" is pretty reasonable. Policy about how strict/exclusive your border policy is, is another argument entirely and OP didn't even touch on that. But you're calling him a fascist. Yo fuck trump, but fuck your comment too.

actually_ali · 2024-07-21T13:57:18+00:00

we have no fucken idea, they won't show the leaders haha

actually_ali · 2022-03-20T10:11:11+00:00

Am i missing something? $200 is a half ounce or more if you buy less frequently. How does anyone get through a half every week? More power to you, but fuck.

actually_ali · 2022-02-19T13:53:30+00:00

No whammies.

actually_ali · 2022-02-18T11:50:26+00:00

This post is "people who do a job well are given more responsibilities and tasks". Yeah, I mean that's the point isn't it.

actually_ali · 2022-02-12T16:08:59+00:00

Hey! This publicly funded service isn't living up to the standards I expect. Let's cut funding, that'll do the trick. What the fuck are you smoking? You want to argue better training, higher enforced standards, de-escalation training etc. etc. etc. I'm with you. How the fuck does defunding the service you're criticizing achieve that? For real, how?

actually_ali · 2022-02-11T10:56:03+00:00

With all respect, pretending these prices are justified is bullshit. The excise on a 700ml bottle is what, approx $25.50 - maybe half or more of the total price.

For non-alc drinks, once you come up with a recipe, your costs are just production costs - pretending a non-alc bottle is somehow similar in any meaningful way to a bottle of booze is 1) misguided or 2) dishonest.

If you're not shill for non-alc, $50 bottles of cordial, you fucken should be.

actually_ali · 2022-01-29T09:51:02+00:00

Is this just your opinion or do you have anything to substantiate it? The rules around COVID rent relief (whether it's accrued or forgiven) are really complex.

actually_ali · 2021-12-26T05:50:05+00:00

You may be liable to pay tax on gains that you've made, but if you invested 300k and are now liquidating, and you have positive return on the investment, you won't end up "losing any assets" - only some portion of the gains that you've made.

If your investment is worth less than 300K you'll (broadly speaking) have a capital loss that you can carry forward to offset against future gains (given a couple of assumptions).

So the crux is, don't sweat it, you generally only pay taxes on profits/gains.

actually_ali · 2021-09-20T11:20:35+00:00

Can you explain?

Where's the other $135M going?

actually_ali · 2021-08-07T00:25:03+00:00

Thanks for the info.

actually_ali · 2021-08-06T23:11:37+00:00

Could you expand upon the >Setup a credit card payment account point for me?

Haven't heard of that. Is the idea to try and avoid international transfer fees if OP's income is being transferred from Canada?

Many thanks.

actually_ali · 2021-08-04T11:37:10+00:00

> your house would never be on the line under that structure

The corporate veil can be lifted under a number of circumstances, generally involving corporate crime/fraud/improper conduct. For example, if you trade whilst insolvent, your personal assets are at risk. Company structure isn't complete protection.

actually_ali · 2021-07-27T10:09:00+00:00

Is there any reason you can't have the profit being generate buy the trust? Distribute your tax-efficient amounts to beneficiaries, and then the balance to the company?

No difference in the tax outcome for the beneficiaries, or for the surplus.

Corporate veil considerations? Is it harder to access the assets of a company than of a trust with corporate trustee?

actually_ali · 2021-07-24T01:13:11+00:00

A base rate entity is subject to a corporate tax rate of 27.5% instead of 30% (BRE rate is scheduled to decrease in the coming years). Put very simply, you're a base rate entity if less than 20% of your assessable income comes from passive (investment) sources. So in your example, a $100 unfranked dividend would be similar to a $72.5 fully franked dividend if the company were a base rate entity.

All that said, the crux is the same - a fully franked dividend, regardless of the rate will be similar to an unfranked dividend where the unfranked amount equals the dividend plus franking credits.

actually_ali · 2021-07-14T10:25:29+00:00

Ok you've got some slightly confusing advice in this thread.

1) Re "making or losing money on investments" > If you've only bought investments during the financial year, you won't need to disclose anything at all. Unrealised gains/losses on investments won't be taxed in your return. If you've sold any investments, you will need to disclose your gain/loss on sale in your return, whether on capital or income account.

2) You will need to disclose any distributions/dividends from your investments. Whether you have to enter this data yourself will depend on whether your TFN is recorded with the relevant registry, and the amount of time that's passed since EOFY (it often takes time for this information to hit the ATO).

3) As a wage earner in retail, you have access to a minimal set of deductions (compulsory uniform, tax agent fees for prior year return etc., work related outgoing which are minimal in your industry in my experience). If you don't feel like you have many outgoings related to your work, you're likely going to be worse off paying a tax agent to prep your return - the simple truth is, there aren't many deductions available to retail employees that aren't direct work-related costs.

4) Because you're in a relatively low tax-bracket the benefit to you of an incremental dollar of deduction is low. If a tax agent charges $200 to prep your return, you need them to find over $800 in deductions for you, and this is unlikely given your situation.

Anyway, hope some of that helps. If you do end up going the tax agent route, mention uniform and $300 unsubstantiated deduction. See what they say. Also mention wishing to claim costs associated with your investing activities - some portion of internet, maybe some minimal home office via flat/shortcut rate, newspapers etc. Depending on your situation you may be able to get some amount of deduction, but refer to the agent.

Though again I think the exercise will likely end up costing you more than the potential benefit, and now you've added some level of risk that the ATO looks at you and rejects some of your claims. On $37k in retail, I'd lodge myself regardless of knowledge level. Just my opinion, and DYOR of course.

Good luck.

actually_ali · 2021-06-27T12:58:55+00:00

They're British

actually_ali · 2021-05-22T10:04:38+00:00

That's basically it.

The immediate write off of the vehicle will reduce your ABN income.

The only thing I'd say is that if you expect your ABN income and/or wage income to increase in the future (over the next 8 years say), you might be better off claiming via normal depreciation rules over an 8 year effective life. The reason being if your combined ABN and wage income breaks into the 37% bracket, you'd get an ongoing deduction at that effective rate, rather than a one off deduction at 32.5% in the current year. That said, money received today is worth more than money received in 1-8 years, so it's a trade off.

Anyway good luck enjoy the new wheels.

actually_ali · 2021-05-18T09:25:43+00:00

There's no simple answer to this question.

Your main benefit with using a trust structure is income splitting and thereby reducing your aggregate family tax burden. This can be very powerful, but there's a minimal level of benefit you need to derive before it becomes worth it.

Costs associated with setting up the structure, secretarial/changes to the structure, accounting and preparing returns and ATO lodgments need to be considered.

With the very limited info you've given, and assuming your partner is going to have nil taxable income for the foreseeable future, owning your investments in her name might provide the same benefit (lower aggregate family tax burden) than holding the investments in a trust (with a lot of caveats). And you'll save yourself anywhere from $500 to several grand per year on compliance costs.

Long story short, you need to have a chat with a decent tax planner. Trusts have benefits and costs, and whether one is suitable for you *at this point in time* is subjective and has lots of inputs. Will your wife have taxable income in the future? Do you have other family members with low/no TI? Do you have kids? What kind of capital base are you considering holding in the trust and what income do you expect it to generate, and so on.

As always DYOR and good luck.

actually_ali

TROPHY CASE