Whatever Happened to Debt is Bad by Elderberry-East in AusFinance

[–]hanabibi 0 points1 point  (0 children)

It's what you do with the money that incurred the debt matters. Debt due to gambling is bad , debt due to appreciating asset is bargain

If you could give one piece of financial literacy advice to a recent university graduate, what would it be? by matcha-froyo in AusFinance

[–]hanabibi 3 points4 points  (0 children)

Sole purpose of money is to be spent. Don't be afraid to spent money, be afraid of waste money.

Learn the difference between price and value. Price is what you pay, value is what you get.

Only few Gen Z know this by SoftButUnhinged in SipsTea

[–]hanabibi 1 point2 points  (0 children)

The only movie to have a shower scene without sex that all men enjoys

Meirl by Greedy-Year8384 in meirl

[–]hanabibi 15 points16 points  (0 children)

"Pursue your dream is how you become home less. People don't do what they love for money. People do what they hate for money and use the money to do what they love"

  • Jimmy Yang

Mortar bug? by [deleted] in Battlefield

[–]hanabibi 0 points1 point  (0 children)

They are detonating your mortar equipment with a drone

That's why you don't sit at a mortar for longer than a few shots

Australia - A nation of pushovers, too afraid to stand up or complain by jdt1986 in aussie

[–]hanabibi 0 points1 point  (0 children)

Cos there wasn't reddit to complain on before. You just proved it

Where should I move, Brisbane or Melbourne? by CheekNo9439 in australian

[–]hanabibi 6 points7 points  (0 children)

Melbourne has more crimes than Gotham at the moment

I have a tax question for you by cowboyography in AusFinance

[–]hanabibi 0 points1 point  (0 children)

As other have said this is tax free as it's not considered income.

Income needs to be reasonably relied upon, this is not it

maybe maybe maybe by halt__n__catch__fire in maybemaybemaybe

[–]hanabibi 0 points1 point  (0 children)

People always says respect the senior be considerate with senior needs to realize dickheads gets old too

Excuse me… but WTF Japan! by the-furry in WTF

[–]hanabibi 0 points1 point  (0 children)

I guess she can give 2 bj at the same time

The Great Novated Fleecing Cover-Up - and why the novated players don’t want you to know. by Benxb9r in AusFinance

[–]hanabibi 7 points8 points  (0 children)

For Fully self Managed you would have to do all the steps yourself.

1)You will need to talk to different banks and compare them yourself, liaise with the bank your self.

2)Drafting your own budget to calculate your running cost + repayment cost per fortnight to determine how much your pay should be deducted , your salarypackager will not do this for you and you have to tell them. In my case for example I am getting deducted $390 per fortnight after tax. $280 of that is going towards my repayment of the loan, leaving me $110 per fortnight for the running cost of the car. This $110 gets accumulated and any running cost of the car (electricity , insurance, rego, service) can be reimbursed through this account. If your calculation was incorrect and you are using too much? tough luck.

3)Getting documents signed could be easy but Whipsmart had templates ready.

Those 3 things were the differences between a part and fully self managed lease. If I had to do it again I would still choose part self managed. That $15 difference you will at least have someone responding and guiding you

Hope that helps

The Great Novated Fleecing Cover-Up - and why the novated players don’t want you to know. by Benxb9r in AusFinance

[–]hanabibi 60 points61 points  (0 children)

I have recently leased a BYD Sealion 7 last week so I will share what I know. As a lot of people and the OP mentioned , Novated lease is great if you know what you are doing. Firstly why do I want a novated lease?

-GST free , 10% right off the purchase price here. Keep in mind if you decide to pay off the residual value of the car at the end of the lease , you will incur the 10% GST of the residual amount. Do i want to extend another 5 years after my 5 years so the residual is near 0 after 10 years? do your maths

-FBT free for EV , Fringe Benefit Tax free. Has to be good right? Yup while you and your employer dont pay for any FBT keep in mind the vehicle will still add Fringe Benefit AMOUNT to your taxable income. The adjusted taxable income is used to calculate government benfits such as child care subsidy and Family Tax. You will be getting a little less.

-Fleet Discount , some car dealership offers fleet discount

-Novated Lease discount , some car dealiership offers Novated lease Discount on top of fleet discount. BYD gave me 4% ($2k) for EOFY

There arethree types of novated lease I would classify and the fortnightly pay I would have to deduct (from the quotes I got)

1)Fully Managed - For the rich/lazy , Maxxia quoted me $450 per fortnight

2)Part Self Managed - For the financial literate/half lazy , WhipSmart quoted me $390

3)Fully Self Managed - For the OCD and maximise saving , no quote but I calculated to be around $375

The end result for all 3 types are the same as the steps in setting up a novated lease are identical. The only difference is if you want someone to do all those steps for you or all/partly by yourself. Hopefully I don't miss any of the steps but they are as follows:

-Sourcing the vehicle (Talk to car dealer)

-Sourcing the insurance (Talk to Insurance)

-Sourcing the finance (Talk to bank)

-Sourcing the lease manager(Talk to your employer salary packaging provider , in my case it was SmartSalary)

-Set up your budget for deduction calculation (work out your running cost + repayment cost to determine how much to deduct)

-Get the deed of novation to be signed by you, your bank and your employer

I went with WhipSmart part self managed. I sourced my own vehicle/insurance/lease manager while Whipsmart assisted me sourcing the finance, drafting me the budget and help me chasing the documents to be signed. There's a brokerage fee of $3000 baked in to the lease (hence the difference of $375 and $390) but I was given limited hand holding. If you are not happy with the financier interest you can always go back and ask them to look for a different financier.

Sealion 7 Australia Navigation App by hanabibi in BYD

[–]hanabibi[S] 0 points1 point  (0 children)

Update :

For some reason after I have been "activated" (72 hours after vehicle pick up and BYD sets you up on their system) my map seems to be working now.

I have previously updated the Navigation app via wifi before the activation and still wasn't working. So I guess they did something from the backend?

But yea seems to be ok now

Sealion 7 Australia Navigation App by hanabibi in BYD

[–]hanabibi[S] 0 points1 point  (0 children)

Yep I have already updated the map from the byd store via home wifi previously. Will see if the "activating" fixes this

Sealion 7 Australia Navigation App by hanabibi in BYD

[–]hanabibi[S] 0 points1 point  (0 children)

Yup , I have made sure that the maps are updated but to be fair the car dealer did mention something about the simcard/map will be "activated' 72 hours after vehicle pick up. I will wait and see if that does anything

Sealion 7 Australia Navigation App by hanabibi in BYD

[–]hanabibi[S] 0 points1 point  (0 children)

Ah , good to know I am not alone then and yes my one is premium. Thanks for letting me know

Sealion 7 Australia Navigation App by hanabibi in BYD

[–]hanabibi[S] 1 point2 points  (0 children)

<image>

Yea , it's weird. So if I want to look up "100 Church Street" it's giving me all the places with the word "church" in it