I (kind of) understand that the ITWV form allows you to pay less PAYG tax....
I have a couple of (maybe stoopid ) questions??
1. Does the ITWV work for PAYE as well? (we are self-employed)
2. If you DO take advantage of the ITWV .....I am assuming this reducues your taxable income........Does this not make your Tax Assement Noticement $5000 less (assuming a $100p/w neg gearing)???......Wouldn't this seriously impact on one's borrowing power for the next IP??
Can you tell I am VERY close to buying
I have a couple of (maybe stoopid ) questions??
1. Does the ITWV work for PAYE as well? (we are self-employed)
2. If you DO take advantage of the ITWV .....I am assuming this reducues your taxable income........Does this not make your Tax Assement Noticement $5000 less (assuming a $100p/w neg gearing)???......Wouldn't this seriously impact on one's borrowing power for the next IP??
Can you tell I am VERY close to buying