Mr Inappropriate
Regular
After the dust settles on this next phase, there should be serious discussions about a class action against #FuckZijin.
AVZ Discussion 2022
- Thread starter GazDix
- Start date
TheCount
Regular
Emotionally I agree, but head says that once I get my settlement cheque, I’m moving on to the next topic. @IXR for example.
Spikerama
Regular
It's fine mate. I'm sure it doesn't feel like enough time for those scrambling for some kind of resolution to avoid it.
48 days will fly by.
not so sure about that. My hopium indicator is near 3yr highs, consequently I'm concerned there is a setup for some all time lows in disappointment. Time is going really slow and the quietness from avz is both heartening that maybe there working on a deal but also painful as I dont know what the f is going on. Summary, I'm very positive but an outcome cant come quick enough.
Spikerama
Regular
I fully understand Jason but I reckon you just have to disengage the heart somewhat. You have no control over the situation so it's pointless trying to second guess and agonise over what is happening or what might happen.
I like to just focus on the facts and what we know is happening because currently it is positive. Admittedly it can be real hard not to speculate but honestly dude, it's not worth twisting yourself in knots over because it wont change a thing no matter how tight you wind it.
Lucas Don Velor
Regular
Could accountants please confirm!?
For those who potentially stand to gain a substantial capital amount, you could take advantage of your unused concessional contributions (UCC)…
e.g. Capital gain of $1,000,000 - UCC (e.g. $100,000) = pay tax on $900,000 + 50% CGD for those eligible.
As well as reducing your tax and increasing super, you’ll also get 30% back on the $100,000 UCC… Hope this is correct and helps others out!
For those who potentially stand to gain a substantial capital amount, you could take advantage of your unused concessional contributions (UCC)…
e.g. Capital gain of $1,000,000 - UCC (e.g. $100,000) = pay tax on $900,000 + 50% CGD for those eligible.
As well as reducing your tax and increasing super, you’ll also get 30% back on the $100,000 UCC… Hope this is correct and helps others out!
Azzler
Top 20
Hey mate thanks for bringing this Tax policy to my attention, I didn't know about it and so just looked it up.
It's very interesting and it makes me wonder.
So I'd only pay 15% tax on a super contribution instead of the max of 45%, or if we can get the CGD, 22.5%, which on your hypothetical $100,000 contribution, means I keep an extra $30,000, or $7,500 (if CGD) but that all goes into my super.
Out of $100,000 untaxed income, in one case I get either $55,000 or $77,500 (CGD) of that in my pocket,
OR my super gets $85,000 of it.
Interesting decision to make!
But thanks again for bringing this to my attention
P.S. You can see how much unused concessional contributions you are eligible to contribute by visiting MyGov, ATO.
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Azzler
Top 20
While we're on the topic of positive outcomes and tax minimisation, we may well be getting a payout before the end of this financial year.
Well one can only pray and hope of course
If you don't have private health cover, and your payout is going to be considerable, you could be in for a massive hit in the way of 1.5% extra tax for the medicare levy.
Even though there's only a few months left in the year, you can still take a small gamble to minimise it by taking out basic accident cover.
I decided to take that gamble 2 weeks ago when I worked out how much that would cost me otherwise.
Hope that helps someone too
Well one can only pray and hope of course
If you don't have private health cover, and your payout is going to be considerable, you could be in for a massive hit in the way of 1.5% extra tax for the medicare levy.
Even though there's only a few months left in the year, you can still take a small gamble to minimise it by taking out basic accident cover.
I decided to take that gamble 2 weeks ago when I worked out how much that would cost me otherwise.
Hope that helps someone too
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