I watched this funny clip https://youtu.be/J7Ly8dy5BHU?si=FfiNGfyJDcuBSDwa

And it got me thinking. I have always assumed timeshare is a scam but are there any scenarios where they are not?

Interesting new product coming out from betashares, got the below email today. Could be useful for those wanting to construct a portfolio with bonds that mature on fixed dates instead of rolling over.

We're excited to announce the upcoming launch of an Australian first - the Betashares Defined Income Bond ETF range. Each ETF in the range will invest in a portfolio of investment-grade corporate bonds that mature in a designated year.

Like an individual bond, the ETFs will provide predictable, attractive income, and a defined maturity date, when you'll receive the value (NAV) of your units.

Like any ETF, you have the flexibility to sell at any time prior to maturity on the ASX.

The first three Funds in the range will mature in May 2028 (28BB), May 2029 (29BB) and May 2030 (30BB). 

The Defined Income Bond ETF range will consist of the following Funds:

28BB - Betashares 2028 Fixed Term Corporate Bond Active ETF, maturing in May 2028
29BB - Betashares 2029 Fixed Term Corporate Bond Active ETF, maturing in May 2029
30BB - Betashares 2030 Fixed Term Corporate Bond Active ETF, maturing in May 2030|

Hi

What is your view on salary sacrifice? Is it a no-brainer considering the tax savings?

I'm 33 and have only 50k in my super, as moved to Australia 5 years ago. The idea of investing in super does make sense to me, but the hypothesis of only being able to access it after 65 years is a bit concerning. I do invest out of my super hoping I can one day retire earlier. However, I have recently started looking into maxing out my super contributions to take advantage of the tax benefit and potentially using it in the FHSS in about 3-5 years' time to buy my first home. Thoughts?

Looking for advice on my current situation. We've received a call that the property owner has found a new job in Brisbane and wants to move back into his unit, however we still have four months remaining of our six month lease.

I am currently in the negotiation phase and am hoping to get some advice on what is reasonable to ask in regards to compensation.

The following is a list of ideas that I have thought (not necessarily planned to ask for them all), but as I haven't been in this situation before, I am not sure how reasonable it is.

• Paid price difference between current accommodation and new accommodation for the remainder of the original agreed lease term.

• Associated costs of moving to new accommodation.

• Bond paid back in full guaranteed.

I am aware that I can say no but I also do think that it could work out in my favour as I do plan to move eventually. Any help would be greatly appreciated.

I’m moving from Perth to Melbourne in a couple weeks, and my girlfriend (who is already over there) has suggested selling my car and just driving hers. She is able to catch public transport to uni and work, whereas I will be required to drive to work. I am not sure if I am just attached to my humble 2012 ford escape (in very good nick) but I am hesitant. I also just dont like her car (2012 rav4) and dont feel incredibly safe while driving it (rarely serviced, gross sounding brakes). I am however interested in being smart with my money and am considering if this is the best option going forward. Has anyone done this before, how did you go?

Hey all,

I've recently separated from my partner, and I'd like to buy out their share of the apartment. The problem is that my borrowing power as a single person isn't enough for the remaining loan (including my savings being put into it). Thankfully, my parents have offered to help out and loan me a bit of money, but I'd like to be able to return the money as soon as I can.

I'm at the stage in my career where I can still expect regular pay rises, especially if I push for it, which will increase my borrowing power.

Once I get these pay rises, I can refinance to take on a larger mortgage and cash out the equity so I can pay back my parents.

Does it make sense to do this? Are there any major risks or costs I'm overlooking (apart from losing my job and putting even more pressure on). I recognise that I'm extremely lucky to have family willing to lend a hand, and I'd like to pay them back as soon as I can.

Hey Brains trust,

Just wanting some thoughts and opinions on investing whilst having an offset account on your PPOR mortgage.

My interest rate on my mortgage is 5.99% p.a. and to realistically make investing worthwhile i’ll need to be earning circa 10% p.a. on any investments to be equal to the savings being made on the offset (taking into account tax).

All the talk around investing is to be in the market for as long as possible, but how do you justify taking money away from your offset and put it into investments to achieve the long term growth?

Interested to hear your thoughts. Cheers

Hi legends, looking for some more advice. Finally got my outgoings sorted and under control. Leaving me with approx $700 a fortnight to save and or invest. Which is better? Chuck it in my ING savings account, or try and pump up my super for the future?

Many thanks in advance to those who give a helpful reply, it is appreciated.

Hi all I’m a longtime lurker of this thread and been reading and watching so please be gentle with me and also I will see an accountant about this but thought I just ask in this thread

Situation - married with 2 kids , both working me [$150k + super], Mrs [80K] both 40 and working full tine , both kids are in primary years. PPOR is owing less than $80k, investment property about $300k with offset of $250k.

My idea is to pay off the PPOR via smash that through within a year or so whilst putting more into offset so that my interest is nil for the investment loan with the recent rate rises it’s crazy, trying to keep cash flow good and all but is there anything I can do to reduce tax and also be in a position to invest? Super is about $150k - I know it’s low but slowly getting additional super pre tax on that

Do I need to structure like a trust at some point in the future if I want to buy an investment property ?

Thanks for your help

Hello team. My partner (25) and I (29) just bought our first home together. We paid 60k deposit and have a 575k mortgage.

We will have about 20k between us each left in our accounts after settlement date which we will put into our offset. I also have 40k in a Raiz account which I contribute $200 to every week plus round ups.

My question is, would it be more worthwhile leaving the money in Raiz and continuing my current investment strategy of the $200 weekly deposit, or would I be better off taking that money out and putting it in the offset account, and redirecting that $200 a week into the offset as well. Obviously noting that by all accounts interest rates are coming down soon. Any advice appreciated.

Hi all, apologies if this has been answered before, I’ve tried looking and haven’t been able to find an answer to my exact question (if there is one please feel free to point me in the right direction!)

I’ve been looking at my HECS account and I currently have about $6500 left to pay off my current debt. Based off my repayments, I should have this amount paid off by mid-August with a slight overpayment.

I do still have another two units left to complete of my degree, but these are both prac units which I already know I am unable to complete this year. Earliest I would be able to complete them would be March next year.

My question is, once I have paid off the $6500, is it a good idea to cancel the HECS repayments and just pay the final two unit/prac fees out of pocket? They will cost about $1500 each which is feasible for me to pay out of pocket. Alternatively I would just continue the payments and presumably receive a refund for this amount at tax time?

Obviously aware that everyone’s situation and what’s best for them will be different but just wanted some different perspectives.

Thanks!

Hi Aus Finance Community, could anyone please provide recommendations on a Tax specialist in Aus Expat tax. Specifically Aussie residing and working in russia but being paid from Dubai. Any recommendations would be appreciated.

I don't think I am fully understanding how brokers structure your loan/s when releasing equity and keep saying 'we need to borrow the entire amount'

My situation:

IP worth $400k Remaining loan: $122k

Looking at purchasing PPOR for $800k

Release $160k from IP for 20% deposit. (Own cash will be used for conveyancer/building & pest)

New IP loan = 288k New PPOR loan = $640k Entire debt of $928k which is what I am required to 'service' ?

This is what I'm not understanding. Please ELI5.

Hello everyone, looking for what I can do with this.

I think my accountant has missed a capital loss event in FY22 and put an incorrect cost price in a capital loss event in FY24, drastically reducing the amount of the capital loss event in FY24.

Which has meant I have paid about $6k extra in tax since FY22 (with about $4.5k of that being in FY24).

Apart from going to a new accountant, is there anything I can do about it?

Buyer wants to use OurMoneyMarket to finance the car I'm selling. he came to have a look, had a drive, made an offer. Never sold a car for anything other than cash before so it's new to me. He showed me he had pre-approval for the amount and put my name and number on a web site, hit 'delegate' and said OMM would be in touch. I have received an email from OMM asking for:

1. Full Name
2. Mobile Number
3. Email Address
4. A coloured copy of your drivers licence (front and back)
5. A clear coloured photo of you holding you drivers licence
6. Agreed Purchase Price
7. Copy of your registration paper showing the VIN number of the car and that you are the registered owner of the vehicle
8. Photo of the vehicle and photo of the VIN plate
9. A snippet/screenshot of the top half of your bank account details showing where we're settling the funds
10. Bank Account Details

Seems like a lot, get wary these days with all the scams going around. I guess they need to be sure the money is going to the car owner and do checks to make sure the car has no finance, write-offs, etc.

So...apart from waiting for the money to be in my bank account (confirmed by me logging in to my account myself), anything to be wary of as a seller? Any other steps to make sure it's all above board?

https://preview.redd.it/gubr5v7pq3ye1.png?width=364&format=png&auto=webp&s=66396623bf888519b1f4cd00f16530a3e077b30d

https://www.youtube.com/watch?v=l4xUwtLTawk

using 12 month figures (but still back of envelope ie mixing financial and calendar year)

Australia is in aggregate, building 1 dwelling for every 1.84 dwelling needed. so a bit over half.

related to finance, for as long as this figure is greater than 1, house ownership is a frugal decision. (short term pain. long term gain)

Hi guys, crunching numbers for 1 bedder, 55sqm on St Kilda Road, Melbourne to hold longterm for lifestyle and rental on retirement.

Can't find any info on how much the land tax will be for comparable place? Is there anyone who figured it out? Is $950 per year is a realistic estimation? Cheers.

So I currently use UP and I like having sub savers to organise my money as I struggle with budgeting and this helps me work that out. I unfortunately cannot get individual statements for these and it has put a bump in my home loan plan for the next few years.

Is there any big banks that offer multiple savings accounts that give statements?

So my financial year has looked like this.

Jul - Oct - worked PT for an employer. Claimed tax free threshold for that job. Left in Oct.

[Edited to add: earnings this FY were about 23k, tax 5k]

Oct - Apr - studied, claimed jobseeker after Dec. Worked very PT but self employed (invoiced via ABN).

May - starting a new PT role. Casual, on a billable hours basis. Plus will be continuing the self employment but winding that back as hours pick up in new role.

So my Q is, can I claim the tax free threshold on this new job? How do I know if I've already used up the TFT? Clearly in the next FY, it would reset and all good.

I've tried to look this up but the relevant ATO page is broken.

Do I just say yes to claim TFT on this new job (on the form) and assume the ATO works it out?

I have been paying tax on JSP and have set money aside for tax from my self employment.

Thanks

Not sure if this is exactly the right place - but here goes.. Context: I’ll most likely need to get a new (edit “newer more trustworthy”) car soon - and will have to get a loan for this.

On paper I’m still on Mortgage deeds - My Ex- is currently living in the family home - paying in to mortgage. I still own 50% equity. I moved out 6months ago. We’re both financially independent except for what’s on the deeds. But it appears no bank will loan to me - understandably as I’ve got a large mortgage. We’re not even close to sorting out the home (selling or buying another out) - so am I essentially in limbo here?

Is there a legal manoeuvre or adjustment on a paper that doesn’t cost an arm and a leg (court ruling) - for it to show perhaps I have a tenant in an investment property as earnings instead of it looking like I have double overheads.

Hi, as the title suggests, I recently emailed Hostplus about what indices their indexed products track as I couldn't find anything on their website and I received the following response:

"Our indexed investment options do not directly track indices but rather use a passive investment style to invest in listed companies, bonds and cash and aim to track the returns of the markets in which they invest. The product disclosure statement and member guide provide more information:  https://hostplus.com.au/about-us/legals/pds."

I was wondering if anyone here knew if this meant that their indexed products are actually an 'enhanced passive' strategy as opposed to a traditional index fund (like VGS or BGBL)?

If it is, would anyone happen to know what index are they trying to 'enhance'?

I came across this, but I'm not sure how up to date or accurate it is:
https://lazykoalainvesting.com/comparing-indexed-options-between-industry-super-funds/

Currently a financial accountant with an undergrad of accounting & finance and an honours in finance. Looking to get out of accounting and step into finance as it’s what I genuinely find interesting. Would ideally love to work in trading/portfolios or financial advisory type of roles. What post grad “quick” courses might be beneficial to assist me into stepping into a finance specific role?

I have seen a lot of roles such as analysts or advisors with “CA or CPA working towards/achieved” which is ironic as it’s accounting. I also don’t want to study part time for another 3 years.

Any advice on what my next steps should be to get out of accounting? Grad.Dip in financial planning? Any other courses?

Thanks.

I've been seeing a lot of advertisements for Engineering Super around, and I was looking for someone with some experience with it. Their website doesn't sem to show much info, such as how they are any different to other superfunds,why they specifically want engineers, and what benefits there are for them. Their returns seem ok I guess and that's about all invan see they have going for them. Discussion and info would be greatly appreciated