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  • Profile photo of Rich FarRich Far
    Member
    @rich-far
    Join Date: 2005
    Post Count: 10
    March 23, 2005 - 1:16 pm

    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 saving plan if you like.
    So…relating to my earlier question, when filling out the tax refund, may this allow also for a refund claim on investment loan interest?
    Thanks again…
    seems a tricky topic.
    Rich Far

    Richard Farleigh

    Profile photo of Rich FarRich Far
    Member
    @rich-far
    Join Date: 2005
    Post Count: 10
    March 22, 2005 - 7:02 am

    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

    Profile photo of Rich FarRich Far
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    @rich-far
    Join Date: 2005
    Post Count: 10
    March 19, 2005 - 1:52 pm

    GP…you’re much too modest.[biggrin]

    Richard Farleigh

    Profile photo of Rich FarRich Far
    Member
    @rich-far
    Join Date: 2005
    Post Count: 10
    March 19, 2005 - 12:59 pm

    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

    Profile photo of Rich FarRich Far
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    @rich-far
    Join Date: 2005
    Post Count: 10
    February 26, 2005 - 2:35 pm

    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. Yummee!
    Next month…$7,979.
    Next month…$8,042.
    Lookin’ good hey? You figure it out.

    Richard Farleigh

    Profile photo of Rich FarRich Far
    Member
    @rich-far
    Join Date: 2005
    Post Count: 10
    February 18, 2005 - 4:32 am

    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 to tip your hat and walk away.
    Re:Rich Far

    Richard Farleigh

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