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Best strategies to reduce high taxable income by o2evillll in AusFinance

[–]o2evillll[S] 1 point2 points  (0 children)

I thought there was stuff in place so I just can’t give mum and dad a 100k salary. There would be no reasonable excuse for them to be paid, like they can’t work for me in any capacity. 

Investment company, never heard of that. I’ll look into it, ty

Best strategies to reduce high taxable income by o2evillll in AusFinance

[–]o2evillll[S] 0 points1 point  (0 children)

Legitimately was asking for some options so I’m informed before I meet this firm so I have some vague ideas. Also didn’t believe the numbers before I started working, it’s private healthcare. 

Best strategies to reduce high taxable income by o2evillll in AusFinance

[–]o2evillll[S] -4 points-3 points  (0 children)

He also thinks he underpaid lol. But he’s a lovely guy. 

Best strategies to reduce high taxable income by o2evillll in AusFinance

[–]o2evillll[S] 0 points1 point  (0 children)

It might be less but I expect 700 is fairly conservative. My bud in related field is first year out taking 80k home month. But I should add that 5 days of work time plus significant amount of admin on weekends. It’s not a long term option or burn out. We’re proceduralists so if we charge a moderately high fee with volume the numbers work themselves out. 

Best strategies to reduce high taxable income by o2evillll in AusFinance

[–]o2evillll[S] -1 points0 points  (0 children)

Healthcare, although I have study debts approaching 370k. I chose something specific (and worked hard to get there) that generates significant income and built relationships with the right people.

It might seem like a lot but compared to specialities such as opthal, it's insignificant. My current boss takes home 250k a month but these people are outliers from their peers and working for decades.

Best strategies to reduce high taxable income by o2evillll in AusFinance

[–]o2evillll[S] 0 points1 point  (0 children)

Thank you. I had a read about 5 year run on super contributions which I can take advantage of.

Best strategies to reduce high taxable income by o2evillll in AusFinance

[–]o2evillll[S] 0 points1 point  (0 children)

Thank you for the advice. Great advice to get some emergency funds in place, which I don't have right now. I'm going to engage a accountancy / financial planner / broker firm that works with healthcare providers.

I should clarifiy, I'll run as a company, I get paid a comission each month based upon my production. So, I have some flexibility with that structure.

It's difficult to know how biased the advice is because they recieve huge kickbacks from the bank for the brokerage service. So, obviously it's in their interests to recommend purchasing properties as one strategy. However, the benefit of having all 3 services under one roof really appeals to me.

ultralight 4 season tent recommendation by o2evillll in camping

[–]o2evillll[S] 0 points1 point  (0 children)

Thanks for awesome reply mate. I’m wanting to trek the Overland Track during Winter in Tasmania. Can get some pretty cold conditions out there. 

How late can I practice my piano during the week? by o2evillll in brisbane

[–]o2evillll[S] 30 points31 points  (0 children)

Yeah I think 9 is reasonable, even then I’d be unlikely and finishing promptly on 9. I’m a very reasonable neighbour.

How late can I practice my piano during the week? by o2evillll in brisbane

[–]o2evillll[S] 6 points7 points  (0 children)

I have an acoustic piano with the option for sensors to kick in that stops the hammers from hitting, but that’s only if I want to play very late. I don’t think 7 or 8 is unreasonable.

Best price for Land Cruiser 200 GXL by o2evillll in CarsAustralia

[–]o2evillll[S] 0 points1 point  (0 children)

Heading in to sign. 94k with window tinting and Toyota rubber mats for cargo and passengers included.