Hi,
The pension(disability in this case) is not classed as taxable income. However, apparently Centrelink gives the option of volunteering a self designated amount to have taken out/withheld for tax. Apparently, this amount can be as little as $5p/w and I guess the entire collective amount at end of F/Y would be refunded. A form of forced…[Read more]

Hi,
Thankyou for replies.
I Was given the following advice…if someone on DSP chooses to have tax deducted from their DSP payments, they would then be able to claim a tax return, including a rebate for interest paid on investment loans.
Any further advice/replieswelcome
Re:Rich Far

Richard Farleigh

GP…you’re much too modest.[biggrin]

Richard Farleigh

Thankyou for the responses so far, they are giving room for thought
When you say an accountant would(more than likely)download trust set-up(application?), would you be aware of how this is done, i.e. sites etc?
Your help is invaluable…thanks
Rich Far

Richard Farleigh

I currently have funds invested earning 9.5% p/a paid monthly. Reinvested, this amounts to say…10.5-11%.
I feel pretty secure with the group I am with (always room to doubt…ouch) because I have had previous investments released no problems.
Returning to the question at large…on $1m this would relate to your 1st monthly payment being $7,917.…[Read more]

Hi
It can be a sad situation.
The same happened to me some years ago. I was woking two jobs and gave up the one in Question for more rewarding night job.
After quite an ordeal(which I have ever since wondered the worth for effort) I received part of what I was due, About one quarter.
Sometimes, though hard to see in the here and now, it is best…[Read more]