Hey everyone,
I'm a recent university graduate (22M, no debt apart from HECS) who has just secured a graduate job with a six figure salary. I don't start work until January 2015, but have begun to think about what actions I should take with my future pay checks. My main concern is the amount of tax I will have to pay, with any advice in regards to lowering my taxable income being greatly appreciated.
My current car is the one I've had since I got my P's and is on its last legs, so an upgraded car is something that is at the top of my list. Would it be worth my while looking into a lease to lower my taxable income whilst also giving me the upgraded car I need?
Any other ideas/guidance into credit cards, health insurance would be greatly appreciated.
Cheers
With 6 figure income for a graduate… yes lease would hopefully reduce your taxable income, but do check with your company and/or your accountant. On the other hand, paying tax is actually not that a bad problem to have.