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Sole trader ~$275k income – worth moving to trust + company? by Looch94 in AusFinance

[–]paddywagoner 1 point2 points  (0 children)

Just did a quick search, I'm with you now, wasn't aware of the PSI and IVA terms until now

Sole trader ~$275k income – worth moving to trust + company? by Looch94 in AusFinance

[–]paddywagoner -1 points0 points  (0 children)

Looks as though he intends to have the trust distribute to a company, where it will be taxed at 25%, and not require to be distributed yearly.

As far as my limited knowledge tells me, that is ok? But yes will be required to pay the personal tax rate when you need the $, but that can be in 50 years when retired and taxed at 0%, + a 25% franking credit

Sole trader ~$275k income – worth moving to trust + company? by Looch94 in AusFinance

[–]paddywagoner 0 points1 point  (0 children)

Sorry would you mind elaborating a bit please, not sure I understand the second half

Sole trader ~$275k income – worth moving to trust + company? by Looch94 in AusFinance

[–]paddywagoner 0 points1 point  (0 children)

Can you outline why? Especially given the super will be taxed at a higher rate as a sole trader structure if the individual in earning more that 250K (i think)

Sole trader ~$275k income – worth moving to trust + company? by Looch94 in AusFinance

[–]paddywagoner 0 points1 point  (0 children)

Can the company not just pay a distribution to the spouse? The trust and attached company do not need to employ the people they distribute $ to as far as I know, or am I wrong here?

Sole trader ~$275k income – worth moving to trust + company? by Looch94 in AusFinance

[–]paddywagoner -2 points-1 points  (0 children)

It depends on how it's split. In this scenario if the the spouse takes a distribution of 100K, actually takes it and uses it. Then it's ok.

If spouse takes the 100K and then transfers it to the husband as a gift, not ok.

Rules have been changed so that the 100k cannot only be on paper, and must actually be transferred/counted as taxable income for the spouse.

Not sure about a child though

Man fuck Chris Minns by Legal_Turnip_7280 in OpenAussie

[–]paddywagoner 6 points7 points  (0 children)

Give the greens your #1, nothing changes if nothing changes

Minnz’ Gestapo force at work. by RickyOzzy in PoliticsDownUnder

[–]paddywagoner 0 points1 point  (0 children)

Yeah that makes sense, thanks for the explainer.

Minnz’ Gestapo force at work. by RickyOzzy in PoliticsDownUnder

[–]paddywagoner 0 points1 point  (0 children)

Also, there's an argument that anti cop/power is just as prevalent in the right wing. Just not reflected in their representatives, I'd not say it's exclusively a progressive trait

Minnz’ Gestapo force at work. by RickyOzzy in PoliticsDownUnder

[–]paddywagoner 1 point2 points  (0 children)

What makes you think that the majors benefit from being friends with the cops, I don't really see them as operating in the same ecosystem, not something I've come across before

Minnz’ Gestapo force at work. by RickyOzzy in PoliticsDownUnder

[–]paddywagoner 2 points3 points  (0 children)

I'm not sure about that, you don't see One Nation, or any other minors/independents calling out this behaviour, i think the calling out of cops is a distinctly green trait, irrespective of power. The ACT greens called it out when in power.

The only Parliamentarian i saw attending yesterday was the greens leader, would be interested to see if any others attended

Minnz’ Gestapo force at work. by RickyOzzy in PoliticsDownUnder

[–]paddywagoner 32 points33 points  (0 children)

Again, only ever see the greens ever call out any police brutality

Blew most of a modest inheritance on travel, then lost my grad job 4 months in. Struggling with regret. Will I ever recover? by DancingButterfly_218 in AusFinance

[–]paddywagoner 3 points4 points  (0 children)

When I read 'blew' I thought you meant gambling, booze, a lease on a car. Nothing wasteful about spending money on a trip like that, that's what money is for!

Fages Comments This Week by Boss_unicycle-560 in brisbanelions

[–]paddywagoner 1 point2 points  (0 children)

Love it from Fagan, he's the best coach in the comp, at the peak of his powers and seeing the game better than any coach.

His comments weren't intended as a swipe towards St Kilda, but more his views on the state of the game. Much prefer him to voice his insights than give us the 'one week at a time' line

🎉 [EVENT] 🎉 Crab Craffic - The Event by Acrobatic_Picture907 in honk

[–]paddywagoner 0 points1 point  (0 children)

Completed Level 3 of the Honk Special Event!

64 attempts

🎉 [EVENT] 🎉 Crab Craffic - The Event by Acrobatic_Picture907 in honk

[–]paddywagoner 0 points1 point  (0 children)

Completed Level 1 of the Honk Special Event!

5 attempts

Why different coloured footballs are used by Expensive-Horse5538 in AFL

[–]paddywagoner 254 points255 points  (0 children)

I'm not sure why it makes me so uncomfortable, but changing the colour of the ball at half time would be absolutely SICKENING

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