Always with the great insights! It always surprises me how much "lack of understanding there is" but then again... this isn't taught in our education...
If you are looking for nominations for a future episode, the strategy around a company making earnings and paying franked dividends over the long term would be super interesting 🤔
Awesome tips as always, one thing I can never make heads or tails of. is it better to purchase a depreciating asset like a laptop this close to the EOFY, or wait until the new year?
Thanks! It doesn't really make too much of a difference since the claim will start from date of purchase. The earlier you purchase, the earlier the claim will start.
Evasion suggests your doing something illegal reductions means your doing your deductions,asset depreciation ,instant asset write off,capitol improvements equiptment/tools phone bill travel time and meals and the 34% you get back on your purchases isn't true for all assets for instance a 1 tonne work Ute for a tradie can be fully depreciated over 10 years or 5 if you opt for accelerated depreciation BUT if you sell the Ute you have to pay the balance if you've already fully depreciated it also included is tractors,excavators etc and up until 3 years ago the instant asset write off was 150k !! Now it's 20k but still your much better off buying a 60k machine and depreciating it over 5 years to essentially pay minimal tax than letting the government take it all and you don't own as asset?
Are you feeling tax time ready this year?
Always with the great insights! It always surprises me how much "lack of understanding there is" but then again... this isn't taught in our education...
Thanks mate. Yeah more education is definitely needed from a young age.
Think about WHY this isn't taught in schools.
@@timothymark8254 Why do you think?
@@EthanRooshock haha. IYKYK mate.
If you are looking for nominations for a future episode, the strategy around a company making earnings and paying franked dividends over the long term would be super interesting 🤔
Thanks, I'll add it to my list!
Thnx mate, appreciate it.
No worries at all!
Awesome tips as always, one thing I can never make heads or tails of.
is it better to purchase a depreciating asset like a laptop this close to the EOFY, or wait until the new year?
Thanks! It doesn't really make too much of a difference since the claim will start from date of purchase. The earlier you purchase, the earlier the claim will start.
Get it before June 30th can claim this year's deduction
Thanks Ethan
No worries!
If my income threshold is lessthan 75000 per year. I dont need to opt for GST..is that correct
If your GST turnover is less than $75K, then you aren't legally obliged to register for GST in most cases. There are a few exceptions though.
What am I going to do with the 100 calculators I bought
Hahaha
Tax evasion is every Australians duty.
I can't imagine there's too many out there that want to pay more than their fair share of tax haha
Tax reduction bro not evasion don't want to get audited
@@rceravolojnr Yeah good luck with that..
Evasion suggests your doing something illegal reductions means your doing your deductions,asset depreciation ,instant asset write off,capitol improvements equiptment/tools phone bill travel time and meals and the 34% you get back on your purchases isn't true for all assets for instance a 1 tonne work Ute for a tradie can be fully depreciated over 10 years or 5 if you opt for accelerated depreciation BUT if you sell the Ute you have to pay the balance if you've already fully depreciated it also included is tractors,excavators etc and up until 3 years ago the instant asset write off was 150k !! Now it's 20k but still your much better off buying a 60k machine and depreciating it over 5 years to essentially pay minimal tax than letting the government take it all and you don't own as asset?
@@rceravolojnr illegal, when you have criminals making up laws, are they to be adhered to?