Are you feeling tax time ready this year?

Thnx mate, appreciate it.

@EthanRooshock

Ай бұрын

No worries at all!

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...

@EthanRooshock

Ай бұрын

Thanks mate. Yeah more education is definitely needed from a young age.

@timothymark8254

Ай бұрын

Think about WHY this isn't taught in schools.

@EthanRooshock

Ай бұрын

@@timothymark8254 Why do you think?

@timothymark8254

Ай бұрын

@@EthanRooshock haha. IYKYK mate.

Thanks Ethan

@EthanRooshock

Ай бұрын

No worries!

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 🤔

@EthanRooshock

Ай бұрын

Thanks, I'll add it to my list!

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?

@EthanRooshock

Ай бұрын

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.

@rceravolojnr

Ай бұрын

Get it before June 30th can claim this year's deduction

What am I going to do with the 100 calculators I bought

@EthanRooshock

Ай бұрын

Hahaha

If my income threshold is lessthan 75000 per year. I dont need to opt for GST..is that correct

@EthanRooshock

Ай бұрын

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.

Tax evasion is every Australians duty.

@EthanRooshock

Ай бұрын

I can't imagine there's too many out there that want to pay more than their fair share of tax haha

@rceravolojnr

Ай бұрын

Tax reduction bro not evasion don't want to get audited

@richardbrown9344

Ай бұрын

@@rceravolojnr Yeah good luck with that..

@rceravolojnr

Ай бұрын

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?

@richardbrown9344

Ай бұрын

@@rceravolojnr illegal, when you have criminals making up laws, are they to be adhered to?