Forum Replies Created
Hi Terryw,
Where ever your taxable threshold falls, you only pay Hecs to what threshold you fall into. If you can get your income earnings under the HECS repayment scheme, you wont pay HECS at all, if you dont you will have to pay for which HECS repayment threshold you fall into.
Here it is taken directly from the book.
Below $25 348
0%
$25 348 – $26 731
3.0%
$26 732 – $28 805
3.5%
$28 806 – $33 414
4.0%
$33 415 – $40 328
4.5%
$40 329 – $42 447
5.0%
$42 448 – $45 628
5.5%
$45 629 and above
6.0%cheers
s.i.sSave on a regular basis
“People forget that by saving just $3 per day and investing it sensibly over a working life, you’ll end up with around $1 million.”Hi Juliex,
Any losses or profits you make that are involved in your earnings, will change your taxable income/treshold. Dependent on your income threshold, you only pay Hecs due to the amount you earned.
If you go to your Uni and ask for the “HECS Information Booklet 2004” You will find everything is listed in it and is well detailed and exampled well.
cheers
s.i.sSave on a regular basis
“People forget that by saving just $3 per day and investing it sensibly over a working life, you’ll end up with around $1 million.”Here is the link for Thursday Meeting..Which is Tomorrow Night. (Its a meeting all about property, everything and anything to do with proeprty)
https://www.propertyinvesting.com/forum/topic.asp?TOPIC_ID=6093
Email: Vivarto – [email protected]
cheers
s.i.sSave on a regular basis
“People forget that by saving just $3 per day and investing it sensibly over a working life, you’ll end up with around $1 million.”Hi Guys,
I like Redwing Signature,
“The man that thinks at 5o as he did when he was 20 has wasted 30 years of his life”
cheers
s.i.sSave on a regular basis
“People forget that by saving just $3 per day and investing it sensibly over a working life, you’ll end up with around $1 million.”Hi Chan$,
nah i dont use trust, for PI at the moment…lol, im trying to achieve a income tax threshold of under $6000….. Reason being, so i dont pay tax,[
][][]but yeah of course, ill be at Sydney Forum Meeting this Thursday. This Thursday Meeting, i think there is going to be some talk about Hybrid Trust, different types of trust and their pros and cons.
cheers
s.i.sSave on a regular basis
“People forget that by saving just $3 per day and investing it sensibly over a working life, you’ll end up with around $1 million.”Hi Redwing,
to be honest, i wouldnt know the answer exactly, Rubbachook, just informed of this post earlier, but, i just took the quotation, from one of Paul Clitheroe books and noted it up here, so im guessing going either with Rubbachook or that the working life is could be longer than 40yrs.
But i have definitly heard many other sayings which are similar, that investing $20 a week till your are 65, you will have more than $1million in Cash Investments, so im guessing both quotations are similar but, i have no idea what rate or return you will need to suceed.
sorry that i couldnt be much help
cheers
s.i.sSave on a regular basis
“People forget that by saving just $3 per day and investing it sensibly over a working life, you’ll end up with around $1 million.”Hi HappyTrace,
Was studying, HIM – Health Information Management, though, ive deferred and quit the course now, but kept studying and attending exams up till last week or the week before.
Do you ever hang out much in the Bar at school in JDK cafe or whatever its called?
cheers
s.i.sSave on a regular basis
“People forget that by saving just $3 per day and investing it sensibly over a working life, you’ll end up with around $1 million.”Hi Shirly and to Everyone that is interested,
To avoid paying hecs, oh by the way, or pay minimal amounts, there are several ways.
To avoid paying hecs, you need to have an income of less than about $24,000.00…. To the people who have an income that exceeds this amount, you need to bring your taxable threshold below this, many ways you can do this is through claiming your depreciation, (as long as you dont sell the property or you will pay HCG Tax).
After all related expenses for property investments, that are tax deductible and partly refundable, they can reduce your tax threshold or minimise payments.
This also applies to offset gearing, because you have your properties offsetted against each other. meaning there is cashflow happening, but it is being superseded by expense and debts, you are neutralising all payables by receivables which equals = a neutral cashflow, (yet at the same time paying down and owning all properties).
Chuck in the depreciation and other little expenses that are legally claimable, you have been able to achieve a lower taxable threshold, and still maintain and own all your properties.
Though this might work now, it will catch you later if your investments do exceed the taxable threshold, but keeping control over your investments you can continue to avoid payin or minimise your Hecs debt or Hecs debt repayment.
Cheers guys – hope this helps
s.i.s
Save on a regular basis
“People forget that by saving just $3 per day and investing it sensibly over a working life, you’ll end up with around $1 million.”quote:
S.I.S – yep thats where i am, and have been there for too long!i go to the same uni as you do…[
][][], where abouts in the uni you hang out?cheers
s.i.sSave on a regular basis
“People forget that by saving just $3 per day and investing it sensibly over a working life, you’ll end up with around $1 million.”
Hi Rubbachook,
that quote is from Paul Clitheroe, that tv guy and share market expert, he is the one that hostes that television program “Money”.
i havent caculated that signature, but i know it does stand its truth, many other sayins like if you put $20 a week away and invest it, by 65 you will be a millionaire, it has the same fundamentals and gist about it as the signature.
cheers
s.i.sSave on a regular basis
“People forget that by saving just $3 per day and investing it sensibly over a working life, you’ll end up with around $1 million.”Hi guys,
Great to see many young people my age on here, first up i would agree with strw23. You can keep your place and use the equity, though for me personally, if you have the availability to live with family and dont need to live at your PPOR, i would sell it or turn it back into a IP (i mean rent it out), reason being is that you, PPOR what real tax benefits can you claim.
Sounds like your off to a good start Rolonation, at your age and 80k to spend, i like it.
Alrighite guys, to be honest, ive done it the same way most people have, but i just took it a little step further and tweaked some investment strategies.
I use a strategy called Offset Gearing.
This is how it works.
Purchase a property that is going to go boom or appreciate in value, (a property that is in your affordability range). Most likely it will be a negative geared property. Let the propery go boom and appreciate in value. (This you will have to research and work out for yourself, but if you study the market, you will learn quickly which area is most likely to boom and appreciate)
With what equity you have and what you can play with buy an IP that is going to be positively geared. But not just positively geared but enought rental income to cover both property expenses, so they offset against each other.
eg.
+ve + -ve = 0 (no cost at all to you)
Divide your properties into 4 categories.
Passively Geared – Enough Income to Offset another property, or too much income, that is taxable
Positivly Geared – The property has enough rental income to look after itself.
Neutrally Geared – Negative geared property that becomes positive after a tax return/rebate……Or a property that is positvely geared, but due to, too many expenses and vancies becomes negativly geared
Negativly Geared – The rental income is not enough, so you have to subsidse out of pocket expenses.Work out which type of property invesment you need in order to buy to keep all costs offseted against each other.
If you do this right, then your income from your job, will not be affected, allowing you to further save more dollars or have more opportunity in spending your work dollars.
As for getting the cash up, i dont have any savings in the bank, any money i save, or from work or i put aside is put into shares or managed funds reason being is, you can quickly liquidate this money when you need it and beats the interest return you get from the bank.
But my real success is, in studyin the market, the guys that know me on here, will tell you i spend alot of time every day just studyin and lookin at property. Other thing too is i have an accounting background, so this sorta helps, though its not that necessary, for me personally its just being able to understand and being able to read both properties and the property market.
sorry if i didnt answer all the questions, but post them up and ill try to help out, also are any of you guys payin hecs? if you are ill show you how to avoid paying them legally through property.
cheers
s.i.sSave on a regular basis
“People forget that by saving just $3 per day and investing it sensibly over a working life, you’ll end up with around $1 million.”lol… what work PropertyGuru, your always chatting to me online…lol
cheers
s.i.sSave on a regular basis
“People forget that by saving just $3 per day and investing it sensibly over a working life, you’ll end up with around $1 million.”Hi Celivia,
Risk Mangement is simply a subject or can be found as a short course, if your having trouble, call up the tafes that offer business course, that major more in projection managment and ask if they do Risk Managment/Assessment/Analysis (they all mean the same thing) as part of any of their modules, or subjects or in any unit of their study.
Great course if you can come a by
cheers
s.i.sSave on a regular basis
“People forget that by saving just $3 per day and investing it sensibly over a working life, you’ll end up with around $1 million.”Hi MrIronMan,
Really just read heaps, i guess for me personally, i dont have any money what so ever seating in the bank, every time i get payed i invest it into shares, and then from my shares re invest that money into property, though i cant say the Share word here on this forum.
For me personally, i cant help myself, but i love investing and making money, i mean work is great and all, but you can only work so many hours, like for money it can work all day and night long and make more money, theres not much to say but that.
cheers
s.i.sSave on a regular basis
“People forget that by saving just $3 per day and investing it sensibly over a working life, you’ll end up with around $1 million.”lol,lol,… dam, i got to do the runs to day… i gotta vist, each kid.
cheers
s.i.sSave on a regular basis
“People forget that by saving just $3 per day and investing it sensibly over a working life, you’ll end up with around $1 million.”lol, dam that explains why i look so old… but the kids… im not sure whos they are…
cheers
s.i.sSave on a regular basis
“People forget that by saving just $3 per day and investing it sensibly over a working life, you’ll end up with around $1 million.”quote:
S.I.S is 54 years old with 5 children living off an indexed pension and +CF income.wat…lol
nah but with the jokes aside, i am still in school, actually university, and im 21.
now were did that come from…. me being 54 with 5 kids and on a pension…lol,lol
cheers
s.i.sSave on a regular basis
“People forget that by saving just $3 per day and investing it sensibly over a working life, you’ll end up with around $1 million.”
I think it works like this.
1 post – Newbie
2 – 50 Member
51 – 110 Bronze Member
111 – 500 Silver Memember
501 – 1000 Gold Memmber
1000+ – Platinum MemberNot sure if there are any more starts after that.
though Administrators/Moderators have different stars again.
cheers
s.i.sSave on a regular basis
“People forget that by saving just $3 per day and investing it sensibly over a working life, you’ll end up with around $1 million.”I think personally, that both school systems are the same, personally being able to go to both, i didnt notice much difference. In education way, they are pretty much the same, but as for which system who has stricter or tougher rules, that would have to be private schools.
Though one important thing, that both schools neither taught, were subjects on money and how it was very important to understand and control,
another issue that is probably much more important, the school system taught students to go to school and get good jobs, they were not taught about how to make money and make money work and grow for them.
Yet instead are taught to study hard, get good grades, work hard in a job, but are not taught on how to grow and make money from another angle, Yet are only taught to make money you must work hard for it, in a job.
Sorry to be critical and judgemental on this subject, this is only teaching kids, to work hard for money and be a slave to it.
Maybe more important, is to teach your child or children about money, so they wont be slaves to money, but teach them about money.
cheers
s.i.sSave on a regular basis
“People forget that by saving just $3 per day and investing it sensibly over a working life, you’ll end up with around $1 million.”Hi Tracey,
is there any chance that your degree in sydney is at the Cumberland Campus?
quote:
Are you studying at uni too?lol.. well i was, but due to change of interest, ive sorta given the course a flick.
cheers
s.i.sSave on a regular basis
“People forget that by saving just $3 per day and investing it sensibly over a working life, you’ll end up with around $1 million.”
][
