The theory covered this week was Unit 8: Taxation.
- I now know how to calculate my own tax independently and confidently.
- Tax used to be a foreign concept but I now see that taxation is necessary and contributes to my overall well-being.
- I need to be aware of rebates when I begin investing into a managed fund next year.
- Private health insurance is quite beneficial because I earn more income.
- In the future as my finances get more complex I need to be aware that I only want to pay the amount of tax that I am obliged to, not less or more.
- It's better to get reimbursed for something rather than getting a tax deduction.
- Negative gearing at the present seems like a good idea because I don't expect to earn much interest on the cash in my bank accounts at the moment. Also mortgage rates are higher than savings rates.
- It's interesting about capital gains, that capital held for more than a year has a discounted tax rate, which is beneficial for investing in the long term.
No comments:
Post a Comment