prometheuis » user profile
![](https://files.ozbargain.com.au/g/128.jpg)
Member Since | 03/07/2019 |
---|---|
Last Seen | 01/02/2024 |
Recent Activities
![](https://files.ozbargain.com.au/g/38.jpg)
prometheuis commented on How to Get Cash for $11K Worth of Claims
This is easy - buy anything that is refundable. E.g. Buy an $11k course on your personal credit card, submit the receipt to your company,…
![](https://files.ozbargain.com.au/g/38.jpg)
No not quite - because repayments arent deductible.
![](https://files.ozbargain.com.au/g/38.jpg)
"to deduct any expense you need to have paid it" I understand this is false. As I understand its optional to complete your tax return on an…
![](https://files.ozbargain.com.au/g/38.jpg)
Yes you are right if its lower I should've just done it. But I left it too late and wasn't paying much attention to it before so I have…
![](https://files.ozbargain.com.au/g/38.jpg)
I mostly agree with 1-6 but I disagree with point 7. My current mortgage rate is 5.5% (at least last I checked - it does change every month…
![](https://files.ozbargain.com.au/g/38.jpg)
I understand that typically CPI will be interest rates - historically this is usually the case. I'm not disputing that. The claim was made…
![](https://files.ozbargain.com.au/g/38.jpg)
I'll let you know how it goes.
![](https://files.ozbargain.com.au/g/38.jpg)
Thank you it feels good to be understood. Just because some customer service officer at the ATO reads a handbook to me verbatim. Doesn't…
![](https://files.ozbargain.com.au/g/38.jpg)
I've provided sources that invalidate both of your prior claims which you seem to be glossing over each time. You just claimed that…
![](https://files.ozbargain.com.au/g/38.jpg)
No I'm confused because the specific example given by the ATO states that is allowable to take loans to pay for approved self-education…
![](https://files.ozbargain.com.au/g/38.jpg)
Yes 100% I'm on the same page as you. Loan repayments are not a deduction. You don't need to put it in capitals. I have never disputed that…
![](https://files.ozbargain.com.au/g/38.jpg)
The typical student interest rate in America is approximately 4.5%. CPI indexation was just 7.1%
![](https://files.ozbargain.com.au/g/38.jpg)
You do realise that a capital loss is just another way of saying expense right?
![](https://files.ozbargain.com.au/g/38.jpg)
"HECS-HELP debt fees are specifically non-deductible regardless of whether you are working or not, per s26-20." But this isn't the case? If…
![](https://files.ozbargain.com.au/g/38.jpg)
I don't see how its possible to not define this as an expense. Its very interesting that so many have this point of view. In any other…
![](https://files.ozbargain.com.au/g/38.jpg)
Crow their is a clear distinction between a debt repayment and interest incurred. I dispute that this is a "private non-deductible HECS…
![](https://files.ozbargain.com.au/g/38.jpg)
But you're claiming its not an expense? Your claim was that CPI increases are not an expense. So which is it?
![](https://files.ozbargain.com.au/g/38.jpg)
I think I've made it very clear that I know HECS debt repayments are not tax deductible. I stated that several times in my original post.
![](https://files.ozbargain.com.au/g/38.jpg)
My point of difference is that I don't believe HECS repayments being excluded necessitates that HECS indexation expenses are excluded. I…
![](https://files.ozbargain.com.au/g/38.jpg)
You've given more support against your own argument. A commercial lease is usually + CPI. The total lease payment each year is still a tax…
![](https://files.ozbargain.com.au/g/38.jpg)
That's just accounting 101. Interest incurred in a FY is an expense. Loan repayments are not an expense (debit liability, credit cash at…
![](https://files.ozbargain.com.au/g/38.jpg)
So by your logic my hypothetical construction company doesn't need to pay tax on any CPI increases in his construction sales contracts?…
![](https://files.ozbargain.com.au/g/38.jpg)
Thats cheeky ! Thats my own link I shared in this post lol. None of these lines exclude or mention indexation. They are related to…
![](https://files.ozbargain.com.au/g/38.jpg)
Yes I understand the function of Indexation vs Interest. But the outcome is the same - I have incurred an expense. I have an amount that I…
![](https://files.ozbargain.com.au/g/38.jpg)
Thanks that is very helpful. So Crow was right with the timing issue. So does this mean if you undertook your studies while already in the…
![](https://files.ozbargain.com.au/g/38.jpg)
I really do appreciate the debate Crow - it is quite likely I am wrong. So I am just arguing the point to get to the bottom of this. If…
![](https://files.ozbargain.com.au/g/38.jpg)
Well your explanation does satisfy how they would justify it. So maybe that is the answer. But I think there is still a hole here - because…
![](https://files.ozbargain.com.au/g/38.jpg)
haha although I like your examples. I am simply asking for the legislative support that says indexation is excluded. If interest on a…
![](https://files.ozbargain.com.au/g/38.jpg)
Well that actually contradicts the ATO's own standing. Their is a post in their own forums that states a personal loan used to pay off…
![](https://files.ozbargain.com.au/g/38.jpg)
I certainly hope so -
Loading...