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Awesome stuff Bryan. Quick and simple introductory video giving people an awareness for it, and to go look up more info if they wish. Ironic, given I just had Roo not too long ago for lunch.
Hey Bryan i'm 18 and gonna get a credit card asap, i watched your previous video on credit cards and i gained a way better insight into how it seems to work before having to actually go get one first so i appreciate that! I would love to see a video on the concept of building credit score in Australia as there doesn't seem to be much on here and these concepts are always explained best by yourself! Keep it up Bryan
If you are not in the stock market space right now, you are in a huge mistake. I understand that it could be due to ignorance, but if you want to make your money work for you, prevent inflation from eroding your savings, build generational wealth, and cultivate good habits and financial knowledge, you must be in the market.
My husband do no longer sleep at home since he started winning from Evelyn Morgan trading programs, how wish I can start investing with the little £2k I have in my binance account, Please is it possible because I need to earn, so I can let him know that what a man can do that a woman can do it better
This is exactly why ABN holders scr4w over the other parent regarding child support. My ex earned approximately $250k a year but because of ridiculous tax deductions, submits a taxable income of $45k making me the higher earner as I’m paid $65k a year so I had to pay him child support!! The other thing is, his family tax benefit is also higher, effectively making the taxpayer responsible for paying for our children, even though my ex can clearly afford to feed all of us!! Tax evasion is the lowest of the low imo.
@@BryanInvest Thankyou! It’s all good, they’re all adults now but it still irks me knowing how little tax ABN holders actually pay, especially those in the Building industry.
Yes, the MyDeductions tool from the ATO app allows you to take a photo of your receipts/invoices throughout the year. So it’s very handy during tax time!
@@BryanInvest nice, do you think it makes sense to set up a tax filing service in Australia (like turbotax in US) or isn't there customer need for simpler solutions?
Hi mate, huge fan, awesome work man, is there any other benefit or advice around insurance? Health insurance, life insurance, income protection, etc - any other advice regarding tax? Also, just curious if you know about 'whole life insurance with cash value'? (Seems to only be available over in the States🤔)
Hey mate, health insurance is not a necessity here, besides for saving tax, given our relatively free health care system. Life and income protection is usually offered and taken by most in our Super. If you have a Super account, you could login and see if you're covered for life insurance and there should be a figure there if you are. There is also total disability insurance as well.
I use this to keep track of my invoices/receipts. www.ato.gov.au/online-services/online-services-for-individuals-and-sole-traders/ato-app/mydeductions?=redirected_myDeductions
GST is a hard one to understand/stomach for me.. As I see it, we already get taxed on our income at our relevant tax rates, then when we buy something using our after-tax-income/savings we essentially pay another 10% tax. how roo'd
Yeah, I get what you mean. GST is charged for non-essential items. So things like basic food, health, and care products are GST free. It's the government's way of saying if you can afford 'luxury' items outside these essentials, then you can afford to contribute a bit more to the country. A bit like the tipping culture in America except this is enforced.
Basically every Australian resident is liable for Medicare levy no matter how much they earn. It’s the Medicare Levy ‘Surcharge’ that gets added if you go above a certain threshold 😊 so yes, Tom will still have to pay Medicare Levy like the rest of us.
KANGAROOOO .. @BryanInvest I work and live in australia with work visa and private health cover (required by law), how can I make sure that I'm not paying the Medicare Levy fee as it 's supposed to be? Not sure anymore my tax agent is doing a good work.
Hey mate, if you are not entitled to free medicare then you won't be charged. The fee is usually automatically applied since the ATO know exactly what type of resident you are. Just double check with your tax agent that you are not being charged the extra 2%. You can check here if you are an Australian resident for tax purposes: www.ato.gov.au/calculators-and-tools/tax-return-work-out-your-tax-residency
I'm new to BTC and I've been making losses trying to make profit myself in trading.. I thought trading demo account is just like trading trading the real market... Can anyone help me out or at least advise me on what to do?
Well...I will advise you should stop trading on your own if you keep losing and start trading with an expert because trading with an expert is the best strategy for newbie...😊
Interesting. I have a lump sum doing absolutely nothing at all in my bank account, I wanna get something started with it. You seem to be doing excellent for yourself, how do you achieve this?
It is possible to produce superior performance provided you do something different from the majority. However, most of us tend to pay more attention to the shiniest position in the market to the cost of proper diversification.
Kangaroo! Curious question, on what base amount would capital gains be calculated for shares when you sell if you dollar cost average over the years and bought each at all different prices? Also do you have a video on how to lower ATI?
You can use different methods to work it out but you need to keep track of the prices manually or use a share tracking software like Sharesight/Navexa. Most people opt for the first in first out method which is using the shares bought in chronological order.
I recently came to australia (3months ago) and so far my Total Gross Payment YTD is $13000 and the PAYG Total YTD is $3900. How much I can get as Tax Return? Please Help me. Thanks
Tax system in Australia is fraud. I am paying more taxes than Santo's company 😂😂😂 What a scam 😂😂😂 Santo's due equalisation of profits paying no Tax in Australia 😂😂😂 Australian Tax office saying it right 😂😂s Santo's on Billions that they robbing Australians.
🎁🎁🎁 GRAB SOME FREEBIES 🎁🎁🎁
💰Use Moomoo App (chess sponsored) to buy shares & get these free bonuses 🎁:
1. 10 FREE Stocks (worth up to $3,626).
2. Earn 6.8% Interest for up to 100K Uninvested Cash.
3. $2,000 Brokerage free cards (free brokerage fees for 30 days.
Click this link to sign up: j.moomoo.com/00A1xQ
💰Get $100 FREE if you sign up to ING with this link or use code: Jir462 & complete the 4 steps: bit.ly/3BuKGHd
💰 Ubank: Get $30 FREE if you sign up with my code & make 5 small purchases: bit.ly/3L0duZM or Use Code: MDPYUAG
Which one is the best crypto platform .?
@@nithinpjohny I use Coinspot.
Thank ROO very much B-Man 😂
Clear and straight to the point.
Very precise as well
Hahaha! You win this round of secret pun words 🏆
Big fan! Thanks for the video, Bryan. Keep em coming 💪
Thanks a lot, Jesse! More to come 👊
KANGA. Impressed with how much info you managed to pack into this 5 minutes video!
Cheers John. No sense in wasting precious seconds right? 😉
nangaroo great vibe dude keep it up, thanks for taking the time to simplify, cheer
Thanks mate. All the best :)
You’re fast turning into my favourite Aussie Icon Bryan.. More iconic than a Kangaroo 💙
Thank you, Josh! Appreciate the endorsement 👊
So much useful info packed in a few minutes
Awesome stuff Bryan. Quick and simple introductory video giving people an awareness for it, and to go look up more info if they wish.
Ironic, given I just had Roo not too long ago for lunch.
Thanks mate. I appreciate it!
I knew most of this and still watched it. It's a really well explained and edited video. ('kangaroo')
I very much appreciate this Ninja! 🤝
Hey Bryan i'm 18 and gonna get a credit card asap, i watched your previous video on credit cards and i gained a way better insight into how it seems to work before having to actually go get one first so i appreciate that! I would love to see a video on the concept of building credit score in Australia as there doesn't seem to be much on here and these concepts are always explained best by yourself! Keep it up Bryan
If you are not in the stock market space right now, you are in a huge mistake. I understand that it could be due to ignorance, but if you want to make your money work for you, prevent inflation from eroding your savings, build generational wealth, and cultivate good habits and financial knowledge, you must be in the market.
My greatest happiness is the $ 28,000 biweekly profit I get consistently
How is it possible place explain more about it because I have been hearing about her.
Yes I'm also a living testimony of Expert Evelyn
I'm happy today is because of Evelyn Morgan
My husband do no longer sleep at home since he started winning from Evelyn Morgan trading programs, how wish I can start investing with the little £2k I have in my binance account,
Please is it possible because I need to earn, so I can let him know that what a man can do that a woman can do it better
This is my favourite finance RUclips channel ❤
Thank you! You are too kind 😊
This is exactly why ABN holders scr4w over the other parent regarding child support. My ex earned approximately $250k a year but because of ridiculous tax deductions, submits a taxable income of $45k making me the higher earner as I’m paid $65k a year so I had to pay him child support!! The other thing is, his family tax benefit is also higher, effectively making the taxpayer responsible for paying for our children, even though my ex can clearly afford to feed all of us!!
Tax evasion is the lowest of the low imo.
I'm really sorry to hear this. That does not sound fair at all 💔 I wish you and your children all the best.
@@BryanInvest Thankyou! It’s all good, they’re all adults now but it still irks me knowing how little tax ABN holders actually pay, especially those in the Building industry.
Hey Bryan! Thanks fo the useful and nice video. I wanted to ask you if it makes sense to use tax refund apps in Australia?
Yes, the MyDeductions tool from the ATO app allows you to take a photo of your receipts/invoices throughout the year. So it’s very handy during tax time!
@@BryanInvest nice, do you think it makes sense to set up a tax filing service in Australia (like turbotax in US) or isn't there customer need for simpler solutions?
Hi mate, huge fan, awesome work man, is there any other benefit or advice around insurance? Health insurance, life insurance, income protection, etc - any other advice regarding tax? Also, just curious if you know about 'whole life insurance with cash value'? (Seems to only be available over in the States🤔)
Hey mate, health insurance is not a necessity here, besides for saving tax, given our relatively free health care system. Life and income protection is usually offered and taken by most in our Super. If you have a Super account, you could login and see if you're covered for life insurance and there should be a figure there if you are. There is also total disability insurance as well.
Any free app to calculate and store expenses?
I use this to keep track of my invoices/receipts.
www.ato.gov.au/online-services/online-services-for-individuals-and-sole-traders/ato-app/mydeductions?=redirected_myDeductions
I requested for withdrawal of my super and TDS has been deducted from my withdrawal. Can I get back that TDS by filing my ITR?
THANK YOU SO MUCH KANGAROO!!
🦘🦘🦘
Hi brian, can u please make a video in superannuation as well…
Yes, I will post more videos about Super soon!
Thanks for the info as always, so.... its a ROO ! from me.
Haha, love it. Thanks mate!
did you know petrol isn't tax deductible if its to and from work?
Yes, that’s correct. Basically nothing is tax deductible when going to and from work.
Nice video❤️ btw are u looking for thumbnail designer who create eye catchy Thumbnail which will help your videos to reach wider audience?
I like this topic, I wanna know how americans pay their taxes..I wish you would make a video of it
Hmm...that would be interesting. Although 90% of my audience are Aussies 😂
Kangaroo - thanks for the easy to understand info. I'm going to show this video to my home-schooled 10 yr old who is learning about finance. 👍
Cheers mate! Thats a great idea. I hope it helps them 👍
Great kangaroo. I need to learn how to use the ato website for lodging tax in July. Share sales and new computer deductions. Please help
Hey mate, I’ll be releasing more tax videos soon. You can also check out this video: ruclips.net/video/qHFwxdNiDag/видео.html
Kangaroo!
Great simple explanation Bryan. Amazing great quality content as always.
Appreciate it, mate! 👊
Really helpful! Thanks Kangaroooooo
Glad you found it helpful! 🦘🦘🦘
the ATO system is simple: to rip you off as much as they can
Tax rates going down next year??
Yep! From 1st Jul 2024, we will have lower tax rates for each bracket.
GST is a hard one to understand/stomach for me.. As I see it, we already get taxed on our income at our relevant tax rates, then when we buy something using our after-tax-income/savings we essentially pay another 10% tax. how roo'd
Yeah
Yeah, I get what you mean. GST is charged for non-essential items. So things like basic food, health, and care products are GST free. It's the government's way of saying if you can afford 'luxury' items outside these essentials, then you can afford to contribute a bit more to the country. A bit like the tipping culture in America except this is enforced.
I'm just here for the fun secret words. (And the extremely invaluable info as well of course 😄) Adult Joey
Thank you, Baby Kangaroo Tribbiani.
Using the example at 3m 40s @bryan, I thought Tom would not be liable for Medicare levy as he earns under $97,000 (as per 1m44s of the video)?
Basically every Australian resident is liable for Medicare levy no matter how much they earn. It’s the Medicare Levy ‘Surcharge’ that gets added if you go above a certain threshold 😊 so yes, Tom will still have to pay Medicare Levy like the rest of us.
Thanks mate. Love your work. Massive fan!
Bro, your video is informative but according to me you speak little faster😂 could you please make a video of duty free.?
KANGAROOOO .. @BryanInvest I work and live in australia with work visa and private health cover (required by law), how can I make sure that I'm not paying the Medicare Levy fee as it 's supposed to be? Not sure anymore my tax agent is doing a good work.
Hey mate, if you are not entitled to free medicare then you won't be charged. The fee is usually automatically applied since the ATO know exactly what type of resident you are. Just double check with your tax agent that you are not being charged the extra 2%. You can check here if you are an Australian resident for tax purposes: www.ato.gov.au/calculators-and-tools/tax-return-work-out-your-tax-residency
I'm new to BTC and I've been making losses trying to make profit myself in trading.. I thought trading demo account is just like trading trading the real market... Can anyone help me out or at least advise me on what to do?
Well...I will advise you should stop trading on your own if you keep losing and start trading with an expert because trading with an expert is the best strategy for newbie...😊
Investing in crypto/forex is a good idea, a good trading system would put you through many days of success.
Interesting. I have a lump sum doing absolutely nothing at all in my bank account, I wanna get something started with it. You seem to be doing excellent for yourself, how do you achieve this?
It is possible to produce superior performance provided you do something different from the majority. However, most of us tend to pay more attention to the shiniest position in the market to the cost of proper diversification.
That's true most people today have been having a lot of failure in fx and crypto sector because of had orientation and bad expert
im sorry but i am SOOOOOOOOO confused i want to learn this stuff but i just cant wrap my head it
Are Kangaroos tax deductible next financial year, asking for a Wallaby mate of mine?
Unfortunately not, mate. However, I hear they are trying to pass a bill for the platypus next year.
I’ll get my coat…🤭
@@BryanInvest I see what you did there grandpa......
You may stay friend 😂😂😂
Kangaroo! Curious question, on what base amount would capital gains be calculated for shares when you sell if you dollar cost average over the years and bought each at all different prices? Also do you have a video on how to lower ATI?
You can use different methods to work it out but you need to keep track of the prices manually or use a share tracking software like Sharesight/Navexa. Most people opt for the first in first out method which is using the shares bought in chronological order.
kangaroo! Thank you for the links.
Kangaroo. Can you make video on tax return for super small business like starting creators with ABN
Can you hire me? Im willing to work for your small business startup
@@Skyress14 that’s very kind. But I’m not at a scale to pay for an employee yet sadly
Good idea! Thank you and good luck with your business 🙏
I recently came to australia (3months ago) and so far my Total Gross Payment YTD is $13000 and the PAYG Total YTD is $3900. How much I can get as Tax Return? Please Help me. Thanks
You’ll get all of the tax you’ve paid back because you won’t have earned over $18200 by the end of June.
Talk to a tax agent. Initial consultation normally free.
Kangaroo🥝
Kangaroo 🦘 Watching from Perth 😉 Love your work. Keep it up Bryan 💰💰💰
Thanks Sonya! Best city in the world 😎
Kangaroo. Cheers mate!
💛
Kangaroo 🦘
Kangaroo, when is the dead line to hand in the “ Intend to claim “ form for super ? I already deposited money and is in the super
Kangaroo's got nothing on you bruh ;)
💛
Kangaroo! 🦘🦘🦘
kangaroo
Kangaroo - thanks Brian
Cheers Keith 👊
Kangaroo 🦘🦘🦘
Kangaroo 😊
Kangawallafox
KangaROOOOOOOOO
Kangaroo 🎉
Kangaroo ! Keep them videos bouncing mate !
🦘🦘🦘
Kangaroo🎉
Tax system in Australia is fraud. I am paying more taxes than Santo's company 😂😂😂 What a scam 😂😂😂 Santo's due equalisation of profits paying no Tax in Australia 😂😂😂
Australian Tax office saying it right 😂😂s
Santo's on Billions that they robbing Australians.
Kangarooooo!
Kangaroo!
Kangaroo
Kangaroo!
🦘
kangaroo thanks bryan do you have a discord server?
Hey mate, no I don’t have a discord.
🦘🦘🦘
🦘
Kangaroo 😊
Kangaroo 🦘
Kangaroo 🦘
Kangaroo!
Kangaroo
👍🦘🌟
Kangaroo!!!
Kangaroo
Kangaroo 🦘
🦘
Kangaroo
🦘
Kangaroo
🦘
Kangaroo
🦘
Kangaroo
Kangaroo
Kangaroo