ITWV for 2015 FY

Just a friendly reminder to have your ITWV applications in for 2015 FY. Its only a few weeks away until the first pay period.

There is quite a fast turn around time in processing. I submitted mine online May 26th and received my ATO confirmation letter via snail mail from Brisbane HQ June 5th.

Why use your cash flow, when you can use the Tax man & Tenants to pay your portfolio's holding expenses.

Another year below the tax free threshold with 0% tax applied :D
 
Hi Rixter,

Can you please expand on this a bit for me and anyone else who isn't up to speed with income tax variations?

Thanks.
 
Hi Rixter,

Can you please expand on this a bit for me and anyone else who isn't up to speed with income tax variations?

Thanks.

Bhp, instead of waiting until the end of the FY to declare all income & expenses, the ATO allow you to projected your taxable income & expenses ,prior to and also update through out the FY, so you can then get your taxes back through out the year.

By doing so, you can maximise your cash flow and possibly build your portfolio asset base faster if thats what you choose to do.

They dont pay you any interest on holding money that's rightfully yours until such time as you claim it back at the EOFY. Might as well get it back up front and working for you, instead of them.

If you are fairly heavily negatively geared, by waiting until the EOFY you are effectively imposing a pay cut upon yourself until such time as you claim it back. Why use lifestyle budget to fund the cut when you dont have to.

Investing is all about Maximising Cash Flows & Minimising risks where ever possible. Utilising a ITWV is just one of many tools at your disposal for doing so.

I hope this helps.
 
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