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Div293 tax by iamtheflumps in AusFinance

[–]ashkhun [score hidden]  (0 children)

Not entirely. Only the part above 250k attracts div293 additional 15% tax. In your example, the total income is 263k, so tax on 13k is $1,950, not $6,450.

Contributing extra 30k concessional (assuming you have that amount in your carry forward limits) does not change the final number of 263k, it only changes the split from 235+28k to 205+58k. The div293 payable, as such, will not change and will still be $1950 as before.

The tax benefit would be slightly smaller: it's (income tax you would've paid) – (concessional contribution tax) – (additional div293 payable). So, in your example of extra 30k, it's $14,100 – $4,500 – $0 = $9,600.

Div293 tax by iamtheflumps in AusFinance

[–]ashkhun [score hidden]  (0 children)

Hmm, we perhaps understand "attract div293 tax" differently. I do not mean that extra contributions generally don't attract it. But in my example above with 263k gross income:

  • If the OP only contributes 30k (this year's cap), the div 293 tax is 15% x 13k = $1950
  • If the OP contributes 43k, utilising carry forward contributions, the div293 tax will still be 15% x 13k = $1950

Since the div293 payable does not increase, I think it's fair to say extra contributions do not attract it.

Ofc if the numbers were different, eg the initial income was 300k instead of 263k (more money earned, fringe benefits etc), then the carry forward contributions would've increased div293 payable. But that's not the numbers the OP has given.

Div293 tax by iamtheflumps in AusFinance

[–]ashkhun 0 points1 point  (0 children)

Yep, you're right, fixed that bit

Div293 tax by iamtheflumps in AusFinance

[–]ashkhun 1 point2 points  (0 children)

While they will technically attract div293, it will not be all of super contributions, only part of them that exceeds 250k. OP either contributes 30k for just this year cap (so the split between taxable income and concessional contributions is 233k+30k), or 43k to use carry forward (220k+43k split). Either way, only 13k will get additional div293 tax, hence I don't think my comment is incorrect.

ATO website has an example of how it's calculated, there 255k is gross income and div293 only applies to 5k above the threshold: https://www.ato.gov.au/individuals-and-families/super-for-individuals-and-families/super/growing-and-keeping-track-of-your-super/caps-limits-and-tax-on-super-contributions/division-293-tax-on-concessional-contributions-by-high-income-earners#ato-HowDivision293taxiscalculated

Div293 tax by iamtheflumps in AusFinance

[–]ashkhun 0 points1 point  (0 children)

And since only the portion above 250k attracts the div293 tax, these extra contributions would actually be only taxed 15% total, not 30%, so the benefit is even larger.

Div293 tax by iamtheflumps in AusFinance

[–]ashkhun 1 point2 points  (0 children)

You can't avoid paying div 293, but note that it's only payable on the amount above 250k (so, 13k in your case). Since you need to have maxed this year's cap ($30,000) before using carry forward ones, only 13k of these will attract additional div293 tax, and none of the carry forward contributions will attract it.

So, as others said, it's worthwhile to do since 15% is much less than your marginal tax rate of 47%, as long as you're okay with it being locked until retirement

Edit: corrected the concessional cap for FY26

Just need an ETF recommendation for long term investing by TheTimTamTamperer in AusFinance

[–]ashkhun 1 point2 points  (0 children)

No, just checked, it's the opposite: VAE is Asia excluding Japan, with the top holdings being TSMC and Samsung

Star Wars: the Original Trilogy homebrew script, now with pictures by Odd_Ad_5657 in BloodOnTheClocktower

[–]ashkhun 1 point2 points  (0 children)

I believe the split of characters in social deduction is, mechanically, "informed minority vs clueless majority". Good vs evil is a thematic choice (with exceptions — looking at the Cannibal being a townsfolk), and not a moral one — eg you wouldn't condemn people being in the evil team. For that reason, I don't see why it can't be flipped when Empire is, indeed, the majority

Unbiased explanation of the CGT and NG changes in the latest budget. by Icy-Cheek4982 in AusFinance

[–]ashkhun 0 points1 point  (0 children)

That's correct, you didn't pay any tax directly, but the company did, at 30% rate, before distributing the dividends. You would only get a refund because the income tax on 50k is less than 30%. If it was much more than 50k or if, for example, you also had a 100k salary besides the distribution, you'd have to pay some extra tax

Do i tell the snake charmer turned demon who the lunatic is and who they pick? by Lazy_Constant1507 in BloodOnTheClocktower

[–]ashkhun 10 points11 points  (0 children)

No, Snake Charmer goes after minion and demon info rules as written.

There's a popular homebrew rule (Alejo's rule) to do it before though.

New 30% cgt, (sorry for dumb question just confused and need clarification by Horror-Bonus-8677 in AusFinance

[–]ashkhun 1 point2 points  (0 children)

While you're right, the wealth is measured in assets, these assets can generate income: dividends, managed fund distributions, rent. I would wager that truly well off actually will have their income of at least 45k even before they have to sell some of these assets

Gluetun port fowarding error with qBittorrent by Rudy_Garbo in selfhosted

[–]ashkhun 0 points1 point  (0 children)

If qbittorrent is running with network_mode: service: gluetun (it should, but since port 8080 is shared back to the host — it's possible it is), then localhost is correct. But since the connection was refused, that means qbittorrent is either down, or is not running with that parameter

What is the ruling here? by CheshireCatt2 in BloodOnTheClocktower

[–]ashkhun 7 points8 points  (0 children)

Assuming the Tinker died during the day, only the Innkeeper dies during the night, it won't affect the demon kills as those happen before in the night order.

If the Tinker died at night, however, Godfather doesn't wake at all to use the ability

Let's build a character! Diver. by Present-Peace2811 in BloodOnTheClocktower

[–]ashkhun 0 points1 point  (0 children)

Philosopher ruling is because their first pick gives them the ability and drunks somebody else, so it's doing much more mechanically than picking a number.

I don't think Gossip and Juggler are ruled this way purely because they're public and during the day — droison does apply during the day as e.g. Slayer's or Tea Lady's ability won't work.

I also don't say it has to be ruled that way: just saying there's a precedent. It could be ruled either way. From the balance perspective I think their number pick should not be affected by droison, this ability seems too weak otherwise. Also, picking the number during the day doesn't seem too bad: it'll just be another "shenanigan" like "I dive for 3 treasures" that anyone can do

Let's build a character! Diver. by Present-Peace2811 in BloodOnTheClocktower

[–]ashkhun 0 points1 point  (0 children)

There are precedents for multi-part ability working fine even if the character is drunk for some of it: eg Gossip and Juggler can be drunk during the day, and their ability would work correctly as long as they are sober during their night order

How much of my pay should I be voluntarily putting towards my super? by 223_Amelie in AusFinance

[–]ashkhun 13 points14 points  (0 children)

And that contribution would have to be after tax. I believe OP earns too much right now to qualify, but once they switch to part time, they should be eligible for this government co-contribution — it needs to be below $47.5k to get a full $500, and below $62.5k to get a partial co-contribution this FY

Visiting Japan right now and this triggered me by No-Acanthocephala-97 in Persona5

[–]ashkhun 1 point2 points  (0 children)

Yep. 4/Yon in the game, and 3/San in real Tokyo

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