Stepping stone # 5175 - this is it

Hi Dazz.

Kinda embarrassing that I've just come across this thread. I rarely read the Commercial Property section as it doesn't really apply to me (maybe it should!!!)

Anyway, just wanted to add my congratulations to you as well and sincerely hope that the whole retirement gig is what you thought it would be. If it's not, I'm sure with the tenacity that it took to get you where you are now, you'll be able to twist things around to suit you.

Well done, hope I get to feel the way you must be feeling at the moment before too long.

Regards
Marty
 
TPFKAD said:
Last day was yesterday. It was a sombre quite surreal day.

I work with 2 senior chaps, my superintendent who is 58 and has been on bigger incomes than me for over 30 years, dead broke and has to keep working - he didn't want to know and wasn't happy at all that a young whipper snapper younger than his son was "retiring"....he thought it was BS.

The other guy I worked with was a 66 yr old logistics guy who also needed to work and looked tired. He was quite careful with his money - but his wife was absolutely shocking. New $ 500 dress every week. He'll have to work to the day he dies.

No farewell party. Old guys don't farewell young guys retiring. It don't happen. I quietly took the cash and left the building. Some things aren't meant to be...:(
Click to expand...

Jealousy can be so funny :D
They must feel absolutely terrible! or just really really dumb.. ;)
 
want2bewealthy said:
Jealousy can be so funny :D
They must feel absolutely terrible! or just really really dumb.. ;)
Click to expand...

Now now, no need for that.

We need some drones out there to do the work for us while the rest swan around.

Drones, wonderful loyal drones, work harder, your efforts are truly appreciated by others.

MWUUHAhahaahaaahaaaaa:p

Dave
 
Not sure if I said it earlier in this thread, but congratulations Daz, its a pretty amazing achievement at your age and should be proof for the naysayers that it can be done.

Dave
 
TPFKAD said:
Leaving a wife with 3 small kids in charge of that debacle was difficult.
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That's what I am up to at the moment... not fun but sometimes you just have to do these things.

Well done Daz... hope you are enjoying the time at home with the girls! Makes everything you have done all worth it I bet?
 
Learn the Rules and Play by the Rules

joeExpat said:
Not really something to be proud of.
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Whoever pays more tax than they need to legally needs to have his head read.........or something to that tune by the late Kerry Packer.

Running a property portfolio is hardly a covert, sureptitious or ca$h based business defrauding the government. Legally reducing/minimising one's tax should be a goal of all investors. Tax minimisation is legal, whilst tax evasion is fraud.

Learn the rules and play by the rules ;)
 
I make no judgment on anyone who meets their legal obligations. Every day however I avail myself of streets, hospitals, police and a defence force all paid for by the government and therefore taxes. I view the government as a supplier and I always pay my suppliers.
 
Don't forget though, that income tax is only one of about 215 different taxes in Australia (was going to say "this country" lol).

I shudder to think of the amount of stamp duty that Dazz would pay on some of his big acquisitions...probably nearly as big as some investors total portfolio. As well as land tax (on resi only)...the list goes on.

They get you one way or the other...:rolleyes:
 
Chris.R_WA said:
I shudder to think of the amount of stamp duty that Dazz would pay on some of his big acquisitions...probably nearly as big as some investors total portfolio. As well as land tax (on resi only)...the list goes on.
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Yes you would shudder, the stamp duty shelled out to the Govt thus far by the wife and I would keep quite a few nurses and policemen gainfully employed for a decade or two.


The Land Tax burden every year would add a few more nurses to the payroll.


We are proud of our contributions over the years. We choose to contribute this way rather than via the piddly income tax system. The Govt gets far more tax out of us, and we get to control our own destiny.


Poor people pay income tax. Wealthy people pay stamp duty and Land Tax. Wealthy people know this. Poor people don't. However, it doesn't stop the poor people hooking in and having a bleat.
 
TPFKAD said:
Poor people pay income tax. Wealthy people pay stamp duty and Land Tax. Wealthy people know this. Poor people don't. However, it doesn't stop the poor people hooking in and having a bleat.
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So true Dazz,

Congratulations on achieving financial freedom. Please keep posting - you wouldn't believe how inspirational and helpful your posts are in so many ways. Not to mention entertaining!

Regards Jason.
 
man.goo said:
Great story, I would have also been gloating at those that are less better off than myself. I like these type of threads where we can express how great we are and get people congratulating us. Here's another pat on the back for you son :D

[ ] Great Pictures
[x] Thanks for sharing
[x] Looks like all were having fun
[ ] Nice house
[ ] That's a great yield
[ ] Looks like a hamburger
[ ] Sometimes I like to walk in the park
[ ] This has already been discussed on the forum
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We all take our little wins here, because this is - for most of us - the only place where you can get a pat on the back for an acquisition, or another financial milestone achieved.

Most of us are surrounded by friends and/or family who are not anywhere near (psychologically) on the same path we are all on, and either don't understand, don't want to know, or are actually disdainful and/or resentful when we do well.

I even had one family (in-laws) member once call us (behind our back and we found out) - "rich c*nts".

Now, I don't get offended by being called anything - sticks and stones etc, so I coudn't care less what they say, but they were not even close to accurate at that point. We were "asset doing ok, cash poor".

[x] Thanks.
 
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nonrecourse said:
Joe I note you live in a tax haven and are employed as an investment banker:D Were you a tax collector in another life?
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Switzerland isn't much of a tax haven if you live here. The UK is much more of a tax haven for expats (I've lived in both). We all pay land tax and stamp duty, I just don't find income tax avoidance to the point where you don't pay any at all something particularly admirable.
 
joeExpat said:
Switzerland isn't much of a tax haven if you live here. The UK is much more of a tax haven for expats (I've lived in both). We all pay land tax and stamp duty, I just don't find income tax avoidance to the point where you don't pay any at all something particularly admirable.
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Its not avoidance............its "minimisation"!

Dont worry, you will find that alot of investors pay their fair share of taxes..............stamp duty, land tax, GST on conveyancers/ solicitors fees, GST on PM fees, income tax............do you need me to keep going?

Big Tone
 
Big Tone said:
Its not avoidance............its "minimisation"!

Dont worry, you will find that alot of investors pay their fair share of taxes..............stamp duty, land tax, GST on conveyancers/ solicitors fees, GST on PM fees, income tax............do you need me to keep going?

Big Tone
Click to expand...

Yes, quite correct.

We pay more land tax than at least 5 of my rellies' income tax that I know of. :mad:

It's so refreshing to know that the Gubbermint is penalising me even more because I've bothered to get off my @rse and try to steer my own destiny and not be a burden to our society. Moreover; a more active contributor than a few others.

Thanks Kev and all others in association; past, present and future.

Pack of r-swipes.

I've never "avoided" or "evaded" tax in my life, but I sure as hell minimise it with a fury.

No probs with the SANF here.
 
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