A tax question

[simonjulie]

Thanks MJK
The penny is finally dropping for me.
I tend to over complicate the simplist things.
This is the best forum in the whole world
My question is answered.
Thanks all of you for helping me to find my way down this dark corridor called "my thick skull"
kind regards
Simon

 

[MJK]

Yes, I have learned so much from the forum also. It has some really great contributors.

MJK

 

[Rixter]

Thats right Simon.
If you dont need tax deductabilitythere are no ATO concerns. You can capitalise as much as you like on whatever you like. Tax deductability becomes irrelevant when you have no assesable income.

MJK

Great Quote MJK!

Like Ive mentiioned previously - Even us as Investors can sometimes lose sight of the forest for the trees.

People can off on tangents such as is it tax deductable or is it not deductable...In the big scheme of things does it really matter when you have a $4M Portfolio with a $2M debt and your net wealth is growing faster than you are redrawing and spending it - IMHO I dont think so!

Some food for thought

 

[markp]

Great Quote MJK!

Like Ive mentiioned previously - Even us as Investors can sometimes lose sight of the forest for the trees.

People can off on tangents such as is it tax deductable or is it not deductable...In the big scheme of things does it really matter when you have a $4M Portfolio with a $2M debt and your net wealth is growing faster than you are redrawing and spending it - IMHO I dont think so!

Some food for thought

I agree tax deductability is just a bit of a game