the good time are over!!!!!!

Chris,

Thanks for the comments. I don’t wish to be argumentative here, but I’ll just focus on this comment, if I may:

“At best you only get half back.” that referred to my “you get it all back in tax anyway.”

My tax structure isn’t as minimised as, for example, a trust structure might be. Re the above comment, about getting half back, and the example I used of a person on 100k reducing their taxable income to 20k (if possible). On paying 2.5k tax, they have earned 100k and are paying 2.5% tax. That is very minimal tax, I believe- negligible.

If I reduce the income to 80k and the taxable income to say 35k, that’s about 8k tax paid, which is only 10%- still negligible, in my terms.

So whilst me saying “you get it all back anyway” might be, if one is feeling “purist” (and I mean that respectfully), not true or correct, I still believe paying that amount of tax, on such highish incomes, is worthwhile.

kay henry

So where does the $45K in income that isn’t being claimed as taxable income go….to save how much tax?

I’m not sure whether to laugh or call the ATO fraud division [biggrin]

Note that I personally have virtually zero personal income…everything is earnt through my companies & trusts & I pay myself only a minimal wage.

But Kay, I believe you’re a wage slave….and the same options are not available.

I suggest you see a good accountant before you have too many years to clean up behind you.

As I understand that you’ve only been investing in property for a year it shouldn’t be too much of a mess yet.

Cheers,

Aceyducey

As I still have a lot to learn, as many others do, I was hoping to follow an interesting conversation in this thread about taxes and negative gearing. WHat a shame that some people on here are turning a topic like this into some personal battle.

I think when people feel they have to resort to using smilies in a way to try to ridicule one of the most respected forumites and moderators, (who btw has been investing in property for a long time according to some past posts), and when these people even seem to conspire in PMs, it is a sad case of poisoning the discussion.

I can’t wait for the day that things on these boards can be discussed in an appropriate way in where people respect each other’s opinions without reacting with resentful aggression.

Celivia

Celivia,

Don’t know what you mean by “conspiring” nor “ridiculing”. If expressing one’s opinion is considered so to you, then that is a shame, nevertheless you are as entitled to your opinion as much as the next person.

As for investing for many years, I am not absolutely certain to whom you are referring, but (for me) it is not an issue of time but of knowledge, experience and common-sense that is of value and importance.

And if you are referring to my PM comment; you have no idea what transpired between the authors, hence your assumption that anything untoward is being implied is purely speculative.

There was no ONE guiltier party in this debate than the other; there was IMHO an equal distribution, and if your judgement is biased, it is because of your own personal views, nothing more.

Cheers,

Jo

The discussion has gone off the topic was intended, so let move on guys/gals…

Kind regards

Jet Dollars
[Retire Young, Retire Rich]
Share Investing Forum: http://www.aussiestockforums.com