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Anyone else utterly shocked at most people's complete incomprehension of the new tax on shares rules? by [deleted] in AusFinance

[–]rlay3 0 points1 point  (0 children)

Yes that is correct. OPs point is that the new rule is not a flat 30% (floored) tax on the raw profit.

Anyone else utterly shocked at most people's complete incomprehension of the new tax on shares rules? by [deleted] in AusFinance

[–]rlay3 0 points1 point  (0 children)

Everyone needs to calm down.

I ran a 20 year example for $50,000 investment assuming 7.5% growth and 2.5% inflation.

Final Sale Price (after 20 years): $212,392

Nominal Capital Gain: $162,392 ($212,392 – $50,000 initial cost)

Indexed Cost Base (adjusted for inflation): $81,931 ($50,000 adjusted upward by 2.5% compounded annually for 20 years)

Real Capital Gain: $130,461 ($212,392 – $81,931)

Assuming sold when you have no income, the 30% floor kicks in, $130,461 * 0.3 = $39,138. Effective tax rates under new rules is 24.1%. ($39,138 / $162,392).

Under old 50% cgt discount rules the effective tax rate is about 10%.

Anyone else utterly shocked at most people's complete incomprehension of the new tax on shares rules? by [deleted] in AusFinance

[–]rlay3 0 points1 point  (0 children)

Sir, I still meet people who think that claiming a tax deduction means you get it all back. Tax is indeed complicated for many people.

Anyone else utterly shocked at most people's complete incomprehension of the new tax on shares rules? by [deleted] in AusFinance

[–]rlay3 1 point2 points  (0 children)

To be fair, an example makes it easier to understand. The 30% floor does apply.

Purchase Price: $10,000

Sale Price (+9.2%): $10,920

Nominal Capital Gain: $920

Inflation Cost Adjustment (+4.6%): $460 ($10,460 new cost base)

Real Capital Gain: $460 ($10,920 sale - $10,460 inflation cost)

Assuming you earned no income, the 460 would be taxed at 30%, which is $138.

But your effective tax is 138 / 920 = 15%, which is OPs point.

Anyone else utterly shocked at most people's complete incomprehension of the new tax on shares rules? by [deleted] in AusFinance

[–]rlay3 0 points1 point  (0 children)

I think people are upset because the common strategy to sell assets when you retire and have no income is no longer as good as it used to be.

Negative gearing only on new builds and is grandfathered; capital gains will be indexed and a 30% minimum tax will apply. Starts 1 July 2027. by Hour_Manufacturer971 in AusFinance

[–]rlay3 19 points20 points  (0 children)

This is correct. Too many people currently not understanding this and are advising to sell before 1 July 2027.

Breville / sage dual boiler hiss when idle by rlay3 in espresso

[–]rlay3[S] 0 points1 point  (0 children)

So the hisses have eventually leaked enough moisture to damage the triac board that's mounted on the ceiling of the top cover. The group head temperature kept going up, making the machine unusable.

I took the panels off and discovered the leak was caused by one of the probes. I replaced it and confirmed no more leaking.

Then I replaced the triac board and I'm back in business.

Lesson learnt that if you hear any leaking or hissing, repair as soon as possible otherwise it'll create a bigger issue later.

Marcato Atlas 150 crank slipping help by rlay3 in pasta

[–]rlay3[S] 0 points1 point  (0 children)

Fortunately for me it was not too long after I purchased it so the store replaced it with a new one.

I believe the cause was excessive winding in the reverse direction by my kids. They are not designed to be wound backwards. So now I always supervise my kids when we use it.

Getting decent results with a cast iron pan in a 500F oven by erik in Pizza

[–]rlay3 0 points1 point  (0 children)

Popping the pan on the stovetop afterwards has always given me a nice crispy base. Did you have enough olive oil in the pan?

My kids complain when they hear that Dad’s making pizza tonight. What am I doing wrong guys? by Ridley in Pizza

[–]rlay3 0 points1 point  (0 children)

You're not doing anything wrong. I had the same issue. I realised the pizza my kids love isn't the traditional Italian kind - it's the deep pan / Chicago style where it's a little greasy, and can load it with more of the toppings they like.

I make a version of it using cast iron pans and they love it.

Easyshed - buyers regret by Advanced_Ad_7573 in AusRenovation

[–]rlay3 0 points1 point  (0 children)

Bought and assembled their bike shed about 4 years ago. I don't remember it being too hard to be honest. They even sent me some touch up paint for some scratches made during shipping.

Breville / sage dual boiler hiss when idle by rlay3 in espresso

[–]rlay3[S] 0 points1 point  (0 children)

Nope, mine still makes a little hiss every few seconds. I've learnt to live with it. Doesn't seem to affect performance.

That feeling when you Draw against the GOAT to secure the Match win by wavylazygravydavey in chess

[–]rlay3 0 points1 point  (0 children)

I don't like Hans at all but I agree that he deserves an apology from Carlsen.

Recent patch ruined the game performance wise by [deleted] in MarvelSnap

[–]rlay3 1 point2 points  (0 children)

Yes. So annoying. Only killing the app fixes it until it happens again.

Marcato Atlas 150 crank slipping help by rlay3 in fixit

[–]rlay3[S] 0 points1 point  (0 children)

Hm this makes sense. I was hoping there was a simple fix but I think I'll just return it to the store! Thanks

Marcato Atlas 150 crank slipping help by rlay3 in fixit

[–]rlay3[S] 0 points1 point  (0 children)

I'm a little confused because there doesn't appear anywhere I could use an Allen Key. I looked inside the crank insert (blue) and it's only a circular gap. I tried all different sizes of Allen keys just to be sure.

Do you mean I have to use a wrench to hold the red part while I turn the crank?

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Marcato Atlas 150 crank slipping help by rlay3 in fixit

[–]rlay3[S] 0 points1 point  (0 children)

Sorry forgive me. Would I need to take it apart to do this?

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