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Tax Payable for Offset vs FD vs No Property
To answer your previous question whether everyone is better off with a property - I would think that it depends on the property, the rental, the growth, and what you actually do with it. Thoughts to consider: a. Neutral geared property. Your rental income and expense are equal. So no...- Futurist
- Post #8
- Forum: Accounting and Tax
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Tax Payable for Offset vs FD vs No Property
Yes, correct. So at the end of the year, you would have your Net Earnings + 10% deposit that you kept. This also slightly increases the interest u earnt from a savings account had u kept it all there with the 100k. No sure about selling, and what fees are involved. I would imagine legal fees...- Futurist
- Post #7
- Forum: Accounting and Tax
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Tax Payable for Offset vs FD vs No Property
From your figures.. these are my results.. At the end of the year, your net earnings are better off with the Offset Account. Keep in mind: a. I havent included medicare etc etc.. b. Your Savings with no IP will be higher since u kept your 10% deposit. Did this in 5mins, so keep an...- Futurist
- Post #3
- Forum: Accounting and Tax