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Thread: attn: finance nerdz

  1. #41
    infant member plague's Avatar
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    Super: just be aware of the fees involved with SMSF. My accountant always said you gonna need about $200k before they become cost effective.


    Note: my accountant hates Super and punches me in the face every time I mention it.

  2. #42
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    Quote Originally Posted by plague View Post
    and child care centres. Boom industry scheduled to blow even further open as parents (voters) demand more middle class income. No pollie would dare say no, and every time the govt payment goes up, you raise your rates without having to pay more for pesky shit like wages and stuff.
    Not wrong here know a guy that is a partner in 2 and brings home over 10k/Month after tax that the government knows about.

  3. #43
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    Quote Originally Posted by plague View Post
    and child care centres. Boom industry scheduled to blow even further open as parents (voters) demand more middle class income. No pollie would dare say no, and every time the govt payment goes up, you raise your rates without having to pay more for pesky shit like wages and stuff.
    Yep. No arguments here that's exactly what will happen.

    I'm looking forward to what will happen with the emergency services levy now that it's being added onto our land rates instead of being charged to insurance companies.

    I already pay $2200 a year for rates and I'm pretty sure that the insurance companies will find a way to offer me absolutely no discount on my insurance after they are relieved of the levy.
    Last edited by The Dunster; 18-01-2017 at 06:52 PM.

  4. #44
    aka WLG pv4's Avatar
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    Quote Originally Posted by The Dunster View Post
    I'm looking forward to what will happen with the emergency services levy now that it's being added onto our land rates instead of being charged to insurance companies.

    I already pay $2200 a year for rates and I'm pretty sure that the insurance companies will find a way to offer me absolutely no discount on my insurance after they are relieved of the levy.
    That's the thing innit - who will hold the insurance companies accountable? The government claims the levy is being put to land rates to increase the amount of insured houses.. will it lead to an increase in insurances though?
    OK

  5. #45
    Senior Member Jetmaster's Avatar
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    Quote Originally Posted by pv4 View Post
    Attn: finance nerdz

    Who has done some wonderful&legal tricks & loopholes with their super, and what should us chums be doing similar?
    I have invested in property with great looking return already. It has to be a new property, you can't sell until retirement and the trusts etc are a bugger to setup, but once it is done it is done.

  6. #46
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    Quote Originally Posted by The Dunster View Post
    Yep. No arguments here that's exactly what will happen.

    I'm looking forward to what will happen with the emergency services levy now that it's being added onto our land rates instead of being charged to insurance companies.

    I already pay $2200 a year for rates and I'm pretty sure that the insurance companies will find a way to offer me absolutely no discount on my insurance after they are relieved of the levy.
    Can confirm being completely rogered by insurance companies to the tune of around 15% this year and by council with a 7% increase in my rates.

  7. #47
    aka WLG pv4's Avatar
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    Quote Originally Posted by The Dunster View Post
    Can confirm being completely rogered by insurance companies to the tune of around 15% this year and by council with a 7% increase in my rates.
    Whom is or is meant to be holding these insurance companies accountable?
    OK

  8. #48
    aka WLG pv4's Avatar
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    Quote Originally Posted by The Dunster View Post
    Can confirm being completely rogered by insurance companies to the tune of around 15% this year and by council with a 7% increase in my rates.
    http://www.dailytelegraph.com.au/new...65d9198fd6d5a8

    Turns out it hasn't come in yet, and Berejiklian is practising her Gymnastics backflips.
    OK

  9. #49
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    Quote Originally Posted by pv4 View Post
    http://www.dailytelegraph.com.au/new...65d9198fd6d5a8

    Turns out it hasn't come in yet, and Berejiklian is practising her Gymnastics backflips.
    The legislation hasn't that's correct. But the price hikes to account for the insurance industries ridiculous gross profits are well and truly underway.
    I know people in the insurance industry who are absolute flakes but still manage to earn well into 6 figure salaries - thanks to the very sizeable government kickbacks obtained when all insurers collude to lobby the relevant government ministers.
    Last edited by The Dunster; 29-06-2017 at 12:44 PM.

  10. #50
    aka WLG pv4's Avatar
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    Quote Originally Posted by The Dunster View Post
    The legislation hasn't that's correct. But the price hikes to account for the insurance industries ridiculous gross profits are well and truly underway.
    I know people in the insurance industry who are absolute flakes but still manage to earn well into 6 figure salaries - thanks to the very sizeable government kickbacks obtained when all insurers collude to lobby the relevant government ministers.
    I couldn't remember if a 7% increase in land rates was high or not.

    Looking at past years, my rates have jumped:
    15/16 - 16/17 = 5.2%
    14/15 - 15/16 = 5.2%
    13/14 - 14/15 = 2.5%
    12/13 - 13/14 = 6.9%

    How do they work this shit out, even?
    OK

  11. #51
    aka WLG pv4's Avatar
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    Quote Originally Posted by pv4 View Post
    I couldn't remember if a 7% increase in land rates was high or not.

    Looking at past years, my rates have jumped:
    15/16 - 16/17 = 5.2%
    14/15 - 15/16 = 5.2%
    13/14 - 14/15 = 2.5%
    12/13 - 13/14 = 6.9%

    How do they work this shit out, even?
    Attenzione: Dunst

    16/17 - 17/18 = 4.3% for me

    I just can't understand how they work these figures out.
    OK

  12. #52
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    Quote Originally Posted by pv4 View Post
    Attenzione: Dunst

    16/17 - 17/18 = 4.3% for me

    I just can't understand how they work these figures out.
    Council calculates a rate charge by multiplying your property's average rate-able value by a dollar rate. The dollar rate used to calculate charges depends on your property's rating category, which is based on its main land use.

    The actual value of the land is determined by the land valuer general in NSW using sales data they have gathered over the years.

    If a council want more revenue from rates they simply come up with a figure and then apply for approval through the State Government and IPART will juggle the numbers to get them the desired outcome.

    Without going into too much more bullshit accountants and economists do not understand prices or inflation, or depreciation - and probably never will. Which makes it all no better than throwing darts at a board.

  13. #53
    infant member plague's Avatar
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    Quote Originally Posted by pv4 View Post
    I couldn't remember if a 7% increase in land rates was high or not.

    Looking at past years, my rates have jumped:
    15/16 - 16/17 = 5.2%
    14/15 - 15/16 = 5.2%
    13/14 - 14/15 = 2.5%
    12/13 - 13/14 = 6.9%

    How do they work this shit out, even?
    Oh I can explain the 'how'.

    One local council had it written into their senior management teams KPI's that they got a bonus if they got a rate rise pushed through even though it wasn't needed.

    Remember that time that Lord Mayor resigned because he was passing round paper bags of his own money.

    Well now it's paper bags full of your money being passed around and all completely above board and legal.

    Enjoy.

  14. #54
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    Quote Originally Posted by plague View Post
    Oh I can explain the 'how'.

    One local council had it written into their senior management teams KPI's that they got a bonus if they got a rate rise pushed through even though it wasn't needed.

    Remember that time that Lord Mayor resigned because he was passing round paper bags of his own money.

    Well now it's paper bags full of your money being passed around and all completely above board and legal.

    Enjoy.
    It's all good we're building for a smart and sustainable city remember?

  15. #55
    Quote Originally Posted by plague View Post
    Super: just be aware of the fees involved with SMSF. My accountant always said you gonna need about $200k before they become cost effective.

    Note: my accountant hates Super and punches me in the face every time I mention it.
    Better hold on for this ride if you have super

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