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Daniel Czechowski
Goo Roo
Western Australia
Soarer GT-T

Posts: 2252
Reg: 07-2005

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Friday, February 02, 2007 - 05:18 pm, by:  Daniel Czechowski (Dan) Quote hilighted text Edit Post Delete Post Print Post   View Post/Check IP (Moderator/Admin Only) Move Post (Moderator/Admin Only)

I wish. Nah, I'm earning slightly over half that. The rest came from discounted capital gain on selling real estate this year which is what bumped me up so high into the highest tax rate... unfortunately all profits went back into the mortgage on the new house, which will have to draw heaps out of it again later to pay the tax. Can't have fun with that at all, I wish I could but One day, one day...
Callum Finch
Goo Roo
WA
Soarer TT & Corolla

Posts: 2505
Reg: 09-2005

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Friday, February 02, 2007 - 07:08 pm, by:  Callum Finch (Sigeneat) Quote hilighted text Edit Post Delete Post Print Post   View Post/Check IP (Moderator/Admin Only) Move Post (Moderator/Admin Only)

You can claim the tax on the interest payments though Daniel! ;)
Daniel Czechowski
Goo Roo
Western Australia
Soarer GT-T

Posts: 2253
Reg: 07-2005

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Saturday, February 03, 2007 - 12:19 am, by:  Daniel Czechowski (Dan) Quote hilighted text Edit Post Delete Post Print Post   View Post/Check IP (Moderator/Admin Only) Move Post (Moderator/Admin Only)

Callum, I deal with tax legislation for a living... I know I'm gonna claim everything possible this year, plus salary sacrifice heaps while I still have a chance till June 30th.
Paul Brockbank
Goo Roo
WA
GT35R Single T

Posts: 1162
Reg: 07-2005

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Saturday, February 03, 2007 - 03:47 am, by:  Paul Brockbank (Brockas) Quote hilighted text Edit Post Delete Post Print Post   View Post/Check IP (Moderator/Admin Only) Move Post (Moderator/Admin Only)

LOUD NOISES!
Callum Finch
Goo Roo
WA
Soarer TT & Corolla

Posts: 2513
Reg: 09-2005

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Saturday, February 03, 2007 - 10:39 am, by:  Callum Finch (Sigeneat) Quote hilighted text Edit Post Delete Post Print Post   View Post/Check IP (Moderator/Admin Only) Move Post (Moderator/Admin Only)

You can always give it to me and claim it as a deduction Daniel =P

I'm already in a high tax bracket thanks to property sale-age of my own this year; however it all go dumped into another property so 'sif i saw a cent of it! ='(
Matthew Sharpe
Goo Roo
North Island
JZZ31

Posts: 2032
Reg: 10-2005

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Saturday, February 03, 2007 - 02:54 pm, by:  Matthew Sharpe (Madmatt) Quote hilighted text Edit Post Delete Post Print Post   View Post/Check IP (Moderator/Admin Only) Move Post (Moderator/Admin Only)

Ha, no capital gains tax on property in NZ
Daniel Czechowski
Goo Roo
Western Australia
Soarer GT-T

Posts: 2255
Reg: 07-2005

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Saturday, February 03, 2007 - 03:26 pm, by:  Daniel Czechowski (Dan) Quote hilighted text Edit Post Delete Post Print Post   View Post/Check IP (Moderator/Admin Only) Move Post (Moderator/Admin Only)

Did you sell those two blocks you had Callum?


Matthew Sharpe wrote on Saturday, February 03, 2007 - 02:54 pm:

Ha, no capital gains tax on property in NZ




Lucky bastards!!
Dan McColl
Goo Roo
Victoria
Active V8 and a Factory Manual XF.

Posts: 1881
Reg: 07-2005

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Saturday, February 03, 2007 - 03:43 pm, by:  Dan McColl (Hoon) Quote hilighted text Edit Post Delete Post Print Post   View Post/Check IP (Moderator/Admin Only) Move Post (Moderator/Admin Only)

None here either if it's your primary residence ;)
Callum Finch
Goo Roo
WA
Soarer TT & Corolla

Posts: 2522
Reg: 09-2005

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Saturday, February 03, 2007 - 05:07 pm, by:  Callum Finch (Sigeneat) Quote hilighted text Edit Post Delete Post Print Post   View Post/Check IP (Moderator/Admin Only) Move Post (Moderator/Admin Only)

Just one at this stage Daniel, but its not final yet >.> The subdivision on the second one has finally happened so we have 21 days from about 10 days ago to pay for it =P
Daniel Czechowski
Goo Roo
Western Australia
Soarer GT-T

Posts: 2258
Reg: 07-2005

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Saturday, February 03, 2007 - 08:11 pm, by:  Daniel Czechowski (Dan) Quote hilighted text Edit Post Delete Post Print Post   View Post/Check IP (Moderator/Admin Only) Move Post (Moderator/Admin Only)

Hahaha, I wish there was a possibility of setting up tent on a vacant block of residential land and calling it your principal residence
Callum Finch
Goo Roo
WA
Soarer TT & Corolla

Posts: 2529
Reg: 09-2005

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Sunday, February 04, 2007 - 07:48 am, by:  Callum Finch (Sigeneat) Quote hilighted text Edit Post Delete Post Print Post   View Post/Check IP (Moderator/Admin Only) Move Post (Moderator/Admin Only)

All you have to do is prove you have been living htere for 6months. So just pitch a letterbox and redirect all mail to it! =P
Daniel Czechowski
Goo Roo
Western Australia
Soarer GT-T

Posts: 2260
Reg: 07-2005

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Sunday, February 04, 2007 - 02:33 pm, by:  Daniel Czechowski (Dan) Quote hilighted text Edit Post Delete Post Print Post   View Post/Check IP (Moderator/Admin Only) Move Post (Moderator/Admin Only)

Hahhaah, more requirements than that mate, there has to be a house built on it... but who knows, worth a try maybe some public servant won't realise. Can always rely on human stupi... ummm error :-)
Matthew Sharpe
Goo Roo
North Island
JZZ31

Posts: 2040
Reg: 10-2005

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Monday, February 05, 2007 - 07:45 am, by:  Matthew Sharpe (Madmatt) Quote hilighted text Edit Post Delete Post Print Post   View Post/Check IP (Moderator/Admin Only) Move Post (Moderator/Admin Only)

Mmm, my wonderful inlaws just bought a house in Coromandel - now we have a free bach with a 7.5 meter boat to use when we get there...
Callum Finch
Goo Roo
WA
Soarer TT & Corolla

Posts: 2542
Reg: 09-2005

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Monday, February 05, 2007 - 09:27 am, by:  Callum Finch (Sigeneat) Quote hilighted text Edit Post Delete Post Print Post   View Post/Check IP (Moderator/Admin Only) Move Post (Moderator/Admin Only)

Not really Daniel, unless you know something i dont?
You can get away with some sneaky stuff quite easily. You really only need a "livable structure". That could include a tin shed with a porta-potty.
Daniel Czechowski
Goo Roo
Western Australia
Soarer GT-T

Posts: 2262
Reg: 07-2005

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Monday, February 05, 2007 - 11:07 am, by:  Daniel Czechowski (Dan) Quote hilighted text Edit Post Delete Post Print Post   View Post/Check IP (Moderator/Admin Only) Move Post (Moderator/Admin Only)

Callum, you need a council approved residence. Which means it basically needs to be a proper house. Almost all new estates for quite a while now tend to have restrictive covenants stating the minimum size of the house, type of roof, bricks, windows, garages/carports and so on. There is no way in hell you could get a tin shed with porta-potty erected on a residential block of land, and approved by the council as residential premises.

Oh, and just so I can make it clear for you, so you won't get to meet Bubba. ATO now has an advanced data matching software. You sell the block, it gets registered at the land titles registry that it had been sold. ATO runs a check across that database, and then compares that against the tax return you lodged. If there's anything you omitted, THEY WILL GET BACK TO YOU 100%, as some of the clients I dealt with realised. It gets nasty from then on so I'd advise you, be a good boy and do not mess with the ATO
Daniel Czechowski
Goo Roo
Western Australia
Soarer GT-T

Posts: 2263
Reg: 07-2005

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Monday, February 05, 2007 - 11:09 am, by:  Daniel Czechowski (Dan) Quote hilighted text Edit Post Delete Post Print Post   View Post/Check IP (Moderator/Admin Only) Move Post (Moderator/Admin Only)

Hehe, call it 'your own holiday house' Matthew
Callum Finch
Goo Roo
WA
Soarer TT & Corolla

Posts: 2547
Reg: 09-2005

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Tuesday, February 06, 2007 - 12:07 pm, by:  Callum Finch (Sigeneat) Quote hilighted text Edit Post Delete Post Print Post   View Post/Check IP (Moderator/Admin Only) Move Post (Moderator/Admin Only)

Oh dodge Daniel. Well that ruins my plans! ='(

RE ATO stuff; yeah i have birrions of deductions to make every year anyway so its just easier to get an accountant to work it out for me.
Daniel Czechowski
Goo Roo
Western Australia
Soarer GT-T

Posts: 2268
Reg: 07-2005

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Tuesday, February 06, 2007 - 12:53 pm, by:  Daniel Czechowski (Dan) Quote hilighted text Edit Post Delete Post Print Post   View Post/Check IP (Moderator/Admin Only) Move Post (Moderator/Admin Only)

Hehe, don't spend it all at once Callum :-) Good thing to do is if you want to sell a capital asset, if you're close to June 30th, wait till right after for the property to settle, that way you have an extra 12 months to pay the tax. Like I sold mine in early June, delayed the settlement till 6 July, which as a result will have tax payable by May 2008, as opposed to May 2007 :-) Plus gives you a whole 12 months of proper tax planning and stuff where you can save heaps on tax and so on... I'd wait till then to sell your second one.
Peter Nitschke
JunkFilterer
South Australia
GT4.0 V8

Posts: 6931
Reg: 11-2004

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Tuesday, February 06, 2007 - 12:54 pm, by:  Peter Nitschke (Pen) Quote hilighted text Edit Post Delete Post Print Post   View Post/Check IP (Moderator/Admin Only) Move Post (Moderator/Admin Only)

Birrions?

Spent too much time overseas? :-)
Callum Finch
Goo Roo
WA
Soarer TT & Corolla

Posts: 2551
Reg: 09-2005

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Tuesday, February 06, 2007 - 06:37 pm, by:  Callum Finch (Sigeneat) Quote hilighted text Edit Post Delete Post Print Post   View Post/Check IP (Moderator/Admin Only) Move Post (Moderator/Admin Only)

Heheh thanks for the tip Daniel. I wish my (EX)accountant was as good as you and actually told me like that BEFORE i did stuff.. not tell me that i cant claim sh*t because if forgot to do one easy f**king thing before i started recording a year's worth of fuel logs! >=|
(Yeah thats right, EX ACCOUNTANT! How dare someone double the fee for a return from the previous year just cos i had a return worth more..)

Anyway, yes Peter, too much time with the Japs =P
Daniel Czechowski
Goo Roo
Western Australia
Soarer GT-T

Posts: 2273
Reg: 07-2005

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Tuesday, February 06, 2007 - 06:53 pm, by:  Daniel Czechowski (Dan) Quote hilighted text Edit Post Delete Post Print Post   View Post/Check IP (Moderator/Admin Only) Move Post (Moderator/Admin Only)

As good as me? Awww


My invoice for tax advice is in the mail
Callum Finch
Goo Roo
WA
Soarer TT & Corolla

Posts: 2559
Reg: 09-2005

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Thursday, February 08, 2007 - 11:52 am, by:  Callum Finch (Sigeneat) Quote hilighted text Edit Post Delete Post Print Post   View Post/Check IP (Moderator/Admin Only) Move Post (Moderator/Admin Only)

Mate, you have told me more in one post than my last accountant did in 3 years of returns =P

Good luck finding my address, Daniel =P
Daniel Czechowski
Goo Roo
Western Australia
Soarer GT-T

Posts: 2283
Reg: 07-2005

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Thursday, February 08, 2007 - 12:14 pm, by:  Daniel Czechowski (Dan) Quote hilighted text Edit Post Delete Post Print Post   View Post/Check IP (Moderator/Admin Only) Move Post (Moderator/Admin Only)

Nah, my debtors are insured by mafia Callum, they can find anybody!
Matt Smith
Tinkerer
WA
Soarer JZZ30 Single Turbo

Posts: 55
Reg: 04-2007

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Tuesday, October 02, 2007 - 08:55 pm, by:  Matt Smith (15_psi) Quote hilighted text Edit Post Delete Post Print Post   View Post/Check IP (Moderator/Admin Only) Move Post (Moderator/Admin Only)

haha thats funny as F*&K i just realised that this thread is about me and yes i was on my way to motorvation and yes a was playing with a WRX but it was nothing like what they said on the news. And i couldnt beleive that i had 3 chicks in my car there then and only the big one got i the pic.

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