I am interested to know if any investors out there with negatively geared investments (particularly largely -ve geared) take advantage of the ATO’s form 2036 which allows you to reduce your PAYG (weekly or f/n) tax from salary by the approximate amount you will get back at years end. The mini tax refund every week.
How has the experience been for you? Have you paid it off your loan and made a big dent?
Polar.
Hey Polar
Isn’t it a 1515? I used it when it was a 221D form, so haven’t done it lately. It was really good as I kept it all in a completely separate account and used it to pay any bills that came up. Saved me having to cough it up out of my money. I also didn’t claim absolutely everything, so still got a decent tax return at year end.
Cheers
MelCould be Mel. I was re-reading a book that was more than 5 years old when i came across it again so the form number may be different.
I don’t have anything that is -ve geared enough to make it worthwhile but I fully intend to in the future.
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