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About Me

Michael F.

a consumer

My Activity

Q: We currently owe $682,000 to ANZ and the rate is 4.19%. My income is $130,000 and my wife’s is $95,000. We have 3 kids under 10 but don’t have any other debts. The house would be valued at around $1.3M and we are thinking of refinancing. What’s the best rate could we get?
A: I'm also with ANZ having recently refinanced by using Mortgage Choice. My loan amount is very similar to yours, yet my rate is 3.18% So I reckon you can get a better rate without changing banks
Q: I have had the same accountant for years. They do my return and I'm sure it's done properly.

However, when I did my last return I asked my accountant a question ...

What could I / should I be doing to minimize the tax I pay?

Am I paying too much tax with my shares?

I claim as much as I can when I do my BAS & Tax Return, but is there a better way?

Any other strategies?

My accountant said they assess my return based on the information provided and they do not provide advice.


wondering what your thoughts are? Also, I saw this website

https://taxfitness.com.au/ but it seems to be targeted towards accountants, is there something similar for individuals?
Q: I'm a single parent of 2 teenage kids and have never owned a home.
I would like to know the best way of going about this?
Thank you
A: I've been learning about this from the Barefoot Investor book.
Q: Thinking of refinancing my loan from cba to loans.com.au. Big interest rate savings- worked out that I would recoup refinancing costs in 7 months. What are your opinions of loans.com.au? Any negative press I should be aware of?
Q: I work full time with an annual income of $65k, I also run an eBay business that has a turnover of $50k this year, my net margin is around 5%, which is $2500. If I purchase some eligible assets under $20k and write off the full amount this year, then am I able to offset the loss of $17k against my income from day time job? Does that mean I am only liable for tax on $48k ($65k minus $17k)?
A: I wish I could get my eBay business to that level. Any tips?
Q: What do you think of Brickx? Some similarities to property trusts except you can choose the property and they're all residential at the moment.
Q: I have just started investing in Acorns. ($2,000 + $25 per month + rounding up of my purchases) Is this a good investment or do think I am wasting my time & money?
A: So it has been 3 weeks since I started investing in Acorns app. So far I have invested $2,032.15 and the balance is up to $2,077.82. For a small investment this seems to be on track for a worthwhile return
Q: I have just started investing in Acorns. ($2,000 + $25 per month + rounding up of my purchases) Is this a good investment or do think I am wasting my time & money?
Q: I need to write a will. As it is likely to be rather simple (leave everything to my wife, then daughter) can I simply type it out and store it securely, or is legal advice necessary?
Q: What are your thoughts on the online real estate agents that offer flat rate fees instead of percentage of sale price. At first glance there appear to be massive savings, however what are the risks associated with these companies?