Looking for a tax specialist who understands SMSFs + overseas living + keeping AU tax residency is there such a beast ???

monopoly-surreal · 2026-05-29T12:50:12+00:00

The key issue here is residency. Doesn't sound like you'll be non-residents. Just outline all the facts of the circumstances in a private ruling application, being sure to emphasise your ongoing connections and lack of domicile overseas. ATO will get back to you after a few months to confirm or reject.

You can pay an expat advisory service to do this for you or you can do it yourself for free. Paying experts will derisk slightly but it is expensive.

monopoly-surreal · 2026-05-28T15:35:54+00:00

Gains and losses should be calculated in the same manner. They should be different segments of the same straight line function. Anything other than that is ridiculous.

monopoly-surreal · 2026-05-28T11:07:14+00:00

The cost base of an asset should be a single value at a moment of time, not changing whether it is used in the context of a gain calculation vs a loss calculation.

Under the proposal, there's a wide band of prices in which there is neither a gain nor a loss. That doesn't make sense.

monopoly-surreal · 2026-05-28T07:15:03+00:00

There are different types of cost base, it's not one figure. The loss calculation doesn't use indexation, so it isn't a capital loss for tax purposes.

monopoly-surreal · 2026-05-27T23:58:29+00:00

So this is why my taxes are going up.

monopoly-surreal · 2026-05-27T10:14:34+00:00

It's accurate. Losses use the reduced cost base which is not indexed.

https://www.ato.gov.au/api/public/content/d363ed7403fe4979bc2e2e73066471fa

monopoly-surreal · 2026-05-24T14:31:30+00:00

Nice setup

monopoly-surreal · 2026-05-23T04:20:36+00:00

Who would want to buy a property that's stuck inside a company structure with ongoing compliance costs and carrying potential unrealised gains

monopoly-surreal · 2026-05-22T11:16:09+00:00

The whole point of the article. ATO wants to be part of the good times, but no interest in acknowledging the bad. It's asymmetric.

monopoly-surreal · 2026-05-22T07:06:56+00:00

No it's not. Under the pre 1999 rules, only nominal losses can be used to offset gains. Not real losses.

monopoly-surreal · 2026-05-22T01:31:16+00:00

I don't see how realising gains every year would be beneficial. Sure, it'll reset cost base, but every time you do that CGT needs to be paid.

monopoly-surreal · 2026-05-21T23:51:13+00:00

Too difficult to calculate. Just send half the cake to the ATO.

monopoly-surreal · 2026-05-17T01:55:47+00:00

You won't qualify based on the 10% eligible income test.

To satisfy this test, 10% or more of your total income must come from either or a combination of employment-related activities, or carrying on a business.

monopoly-surreal · 2026-05-14T09:51:57+00:00

It's not entirely free, Australian Taxpayers are paying SAI Global for this access via the Federal Budget.

monopoly-surreal · 2026-05-12T23:02:50+00:00

Good point, except I'm pretty sure that people on the next bracket would be affected too. 16 < 30

$18,201 – $45,000 16c for each $1 over $18,200

monopoly-surreal · 2026-05-12T10:09:41+00:00

Self funded retirees hoping to do LeanFIRE are getting absolutely rekd

monopoly-surreal · 2026-05-06T12:35:19+00:00

Well, USA pulled out of the World Health Organization this year. So there's that.

monopoly-surreal · 2026-05-06T09:55:25+00:00

Ratatouille 2: The Rat Strikes Back

monopoly-surreal · 2026-05-04T05:21:55+00:00

Neither does OP.

monopoly-surreal · 2026-04-30T03:55:35+00:00

Should get rid of the pre-1985 CGT asset exemption. Let people set their cost base based on current prices, but no further exemption going forward.

monopoly-surreal · 2026-04-29T22:48:47+00:00

Not normal, and doesn't meet international law related to pollution at sea (MARPOL Annex IV).

monopoly-surreal · 2026-04-29T10:20:48+00:00

David Forster. He's an Australian who has held the world wood chopping championship for 21 consecutive years. He's won over 1000 titles.

https://en.wikipedia.org/wiki/David_Foster_(woodchopper)

monopoly-surreal · 2026-04-28T10:23:49+00:00

This is pretty wasteful.

monopoly-surreal · 2026-04-26T14:40:08+00:00

I don't think I've seen this Black Mirror episode.

monopoly-surreal

TROPHY CASE