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  1. Paul@PFI

    OTP with a Porsche

    I admit I once owned one. Its a brilliant drive and the very nature of a boxer engine makes it a light, balanced, powerful and stable drive in and out of corners with responsive braking and stability. (Albeit with highly ablative brake parts) Sure its not a 911 but it wasn't designed to be...
  2. Paul@PFI

    OTP with a Porsche

    Investment related prizes are assessable income. If the property is an IP it might be a poor argument. Its why in Australia you don't see banks raffle cars etc for depositors or borrowers. s26AJ ITAA36 ID 2002/644 provides an interesting contrast. It considers unsolicited awards, prizes etc...
  3. Paul@PFI

    OTP with a Porsche

    If its an investment property the car value is likely to be assessable income. Congrats you won a Boxster. And a $45K tax debt.
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