For questions that relate to the laws, practices, and products of Australia.

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2
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0answers
25 views

Is a public company allowed to issue new shares below market price without consulting shareholders?

A small public company I own shares in recently advised the market it has completed a share issue to raise money. The new shares were priced significantly below the current market price and there was ...
1
vote
1answer
61 views

If I have form a partnership which has done nothing but lose money, do I need to declare anything on my Tax?

I formed a partnership 6 month ago, with a ABN and a registered bussiness name. It is a very small affair, it has less than $1000 capital in total (across all partners). So far it has just lost ...
3
votes
3answers
269 views

I plan to buy a car soon and I have the cash. Should I use my credit cards to pay for them?

I have enough cash to pay off a car I'm planning to buy. However, instead of using cash on a debit card, I thought of using my credit cards instead so I can earn points on them. Are there any ...
2
votes
2answers
68 views

How do I determine the performance of my retirement fund with regular monthly contributions?

My retirement fund [Australian Superannuation fund] can be checked at any time. The fund invests in shares, which can go up - or down. Money is going IN regularly [monthly]. At any given time, how do ...
1
vote
1answer
50 views

Australian stocks - any dividend tax or capital gains tax?

Can someone please provide some information on this? I would like to invest in Australian companies and want to know about the tax rates. Am a foreigner who is non-resident.
2
votes
1answer
79 views

How do I work out which part time arrangement is better financially?

Next year my boy is going into child care and my wife is returning to work. We plan to put him in child care for three days a week and two days a week stay at home. I'm currently trying to figure ...
1
vote
0answers
41 views

How should I research Super funds?

My current super fund is closing down so I need to choose a new one. How should I choose a new one, and what resources can I use? If it matters, my current account is small (under $50K), and I'm not ...
1
vote
1answer
67 views

What do the points in a stock market index epresent?

For instance after the GFC, the ASX All Ords fell to about 3200. It last closed at 5777.2 (http://www.asx.com.au/) But what do these points actually mean in terms of what they represent?
0
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1answer
82 views

If I make a loss in trading stocks, can I state it as a loss of investment in the tax refunds?

I was wondering if I could turn around my losses (a little bit) to help with my tax refunds. If I have negative total profit from trading stocks/investments, will it help increase my tax refunds? ...
2
votes
1answer
114 views

What are the running costs of owning a car, aside from fuel?

I'm getting a car later this year and saving up for it currently. However, as a first time car owner, I am not aware of the running costs of owning a car. Aside from fuel, what are the things that I ...
2
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0answers
116 views

How should we organize our finances to effectively plan and prepare for an retirement in next 10 years?

How should we organize our finances to effectively plan and prepare for an retirement in next 10 years ?. My personal details are: Age 35, married with a 3 year old daughter IT consultant with a ...
3
votes
0answers
40 views

With the Fringe Benefits Tax, should I even salary sacrifice for a car?

In Australia, some employers offer an option to salary sacrifice a car purchase. The cost of the car is taken from your pre-tax salary, so your gross income will be less, and therefore, the tax would ...
2
votes
2answers
127 views

How do I determine how much I can afford for a car?

I make about $70k AUD per year before tax. I currently have $10k AUD on my car fund. What I did was put $500-700 per week on that account, depending on how much I spent on other wants/needs. Now, I ...
5
votes
4answers
148 views

Buying shares in employer's company during IPO

So the company that I work for has just put out an IPO to float on the share market. They have offered employee's the opportunity to purchase reserved shares before the offer goes public, up to $10 ...
3
votes
1answer
58 views

Income tax loss credit after depreciation on negatively geared property

In Australia, my personal taxable income for a particular financial year before calculating depreciation on an investment property is very low (close to but above $0). This is after adding all rental ...
2
votes
1answer
68 views

If I earned money in both New Zealand and in Australia, do I need to file a tax return in both countries?

I am considering work in New Zealand but the financial year will be partly split between the two countries. Do I need to file an income tax return in both countries?
0
votes
1answer
52 views

Day trading in USA from Australia

I am an Indian citizen living in the USA for the past 4 years on work visa. I do trading occasionally (not day trading though), and as should be clear, I do have a SSN and Bank Account. However, I ...
2
votes
2answers
133 views

What is the most common and profitable investment for a good retirement in Australia?

I've seen a whole lot of questions in this website about good retirement investments in a range of countries, but none asking about Australia. Let me explain a little further my doubts: I'm currently ...
1
vote
1answer
43 views

Dollar transfering from australia to India and back to Australia

If I send Australian Dollar to FCNR in India, which I have already paid tax here, then when I bring back the same amount to Australia in a few years, do I have to pay tax again here?
2
votes
1answer
83 views

What does it mean when a company will be conducting a non-renounceable entitlement offer?

Recently, a company (ASX:CTM) released a non-renounceable entitlement offer. What does it mean in general, and what does it mean for a shareholder like me? There seems to be a problem with the ...
2
votes
0answers
62 views

Accepting a deposit into my mortgage from a third party and paying them interest

I'm a net borrower with a variable interest rate mortgage secured against my house. Let's say there is $200,000 owing and I'm paying 5% interest to the bank. It has a redraw at-will facility and I'm ...
0
votes
1answer
106 views

What are the consequences of being classified as a day trader, in Australia?

I read in a question here advice on how not to be labelled as a day trader. I trade quite often, but not as much to be labelled as a day trader based on what I read, but I'd still like to know what ...
1
vote
2answers
162 views

Cheapest/easiest way to convert AUD to USD on a short-term (2-3 month) basis

I am moving from Australia to the United States soon. Most of my cash is in AUD. When I arrive in the USA, I will be spending in USD. The AUD has been weakening substantially recently against the ...
4
votes
1answer
143 views

Are there disadvantages to day trading ETFs?

I bought an ETF a few months ago and I was thinking of selling it, however, I was wondering if there were disadvantages or additional fees if I treated ETFs like short term stocks.
22
votes
5answers
7k views

If I plan to buy a car in cash, should I let the dealer know?

Is it desirable for them if I paid in full? Should I let them know or should I keep it to myself? Will I get lower prices if I was willing to pay in full?
1
vote
3answers
387 views

If I pay the balance due, will I pay no interest in that month?

Here's what I have : Total Balance : X Balance Due : X-500 Minimum Payment : 50 If I pay X-500, will I pay zero interest on that month? Or will I pay interest for the remainder of ...
0
votes
1answer
119 views

Tax residency options for Australian overseas with no fixed residence?

I am an Australian citizen and work remotely for an Australian company. My pay goes into an Australian bank account and I also have a mortgage (actually a line of credit) on an Australian property. ...
0
votes
0answers
46 views

US client, Australian freelancer, what are my options in getting paid?

It's my first time to freelance and right now, I could only think of Paypal. I've tried transferring money from country to country (Australia - Philippines) before and the banks (in the Philippines, ...
2
votes
2answers
139 views

When is a higher return not desireable in a Retirement Fund?

I have been back-testing some share investment strategies for my SMSF (self managed retirement fund) and have narrowed it down to two strategies that have consistently performed the best over a 3 year ...
2
votes
2answers
425 views

What makes an effective and profitable trading system

What should I aim for to achieve an effective and profitable trading system? Should I aim to get as high a percentage of winning trades as possible (ie. 100% winning trades)? Also what percentage ...
5
votes
1answer
510 views

Should I give my mortgage broker access to my bank account?

Is it safe to allow a mortgage broker to access my finances? They are requesting it in order to present account balances to our home loan issuer, and while I wouldn't suspect they are scamming us or ...
3
votes
1answer
251 views

Here's my plan for saving up for a house - What can I do to improve?

I'm 20 and I'm from Australia, have about $8000 saved up for my mortgage fund, hoping to get a hefty sum for my downpayment when I plan to buy a house in the future. The $8000~ savings came from my 6 ...
2
votes
0answers
125 views

How does GST on PayPal payments work for Australian Taxation?

I am an Australian sole trader and I have recently started publishing eLearning videos to view online at a .com website that pays into my PayPal account. Purchases are in USD and my share is paid ...
1
vote
1answer
89 views

Having more tax deductables than tax paid

my income for 3/4 of the year is tax exempt, being in the form a scholarship living allowance. I expect to have many more deductible expenses, than the amount of tax I will pay. Particularly since I ...
10
votes
4answers
223 views

What does it mean for a normal citizen like me when my country's dollar value goes down?

I live in Australia. From what I can see in the past few years (and still ongoing), the AUD value just seems to go down. Right now, 1 AUD=0.86 USD, and from what I've read in some websites, it's ...
1
vote
2answers
221 views

How much do I ACTUALLY pay when I am going to buy a car?

I am an absolute noob with cars. I have no passion or experience with them, but I acknowledge that they are a great asset for life improvement in general, and I am planning to buy one soon. However, ...
3
votes
1answer
57 views

Risks in investing savings into retail superannuation in Australia?

What risks are there if I invest all my savings into retail superannuation? I'm still working part time, in my 60s, but would like to get a regular (pension type) income tax free, from investing in a ...
1
vote
1answer
70 views

What special rules, if any, need to be followed for US citizens to put money in Australian savings accounts?

From a few recent questions, I have seen that current (as-of Oct 2014) rates on savings accounts in Australia are in the 3.5% ballpark. This is about 30x higher than in the US. What would I, as a US ...
5
votes
2answers
462 views

What factors should I consider when evaluating index funds?

Thanks to the people who answered in this question, I've decided to educate myself with index funds and to engage my mortgage preparation funds in them. There are several choices for index funds. ...
7
votes
4answers
532 views

I'm 20 and starting to build up for my mortgage downpayment, where should I put my money for optimal growth?

I have no credit, no loans, and am a contractor for $40/hr at a company and I expect to work here for quite a while (job security should be above average). Every week, I allocate $300 to my Mortgage ...
0
votes
0answers
46 views

What investment options should I pick for my superannuation/retirement investments?

Right now, all my savings are in high interest (3.73%) savings accounts, and I've tried the stock market, but I have stopped for now due to my low capital not yielding enough to win against the broker ...
8
votes
1answer
233 views

Does being on the board of a bankruptcy-declaring company affect my credit rating?

If I am on the managing board of a company which declares bankruptcy, will it affect my personal credit rating? I am particularly interested in Western Australia.
0
votes
1answer
70 views

What are my investment options in Australia?

My current bank offers a 3.63% interest rate. I have about $7k in flexible money that I could put in potentially good investments. Right now, I'm only familiar with Term deposits, the stock market, ...
0
votes
1answer
76 views

If my annual taxes are less than $18.5k, does it mean I get to refund them all?

I've just started working in Australia and the way taxes work here are quite new to me. I've read somewhere (can't find the link!) that the maximum tax refund you can get per year is $18.5k. Does ...
5
votes
1answer
657 views

Am I putting myself at any security risks by putting all my money in one bank institution?

Currently, I'm putting all my savings into one bank institution, but spread into several accounts. Are there any security risks in this approach? It is convenient for me as all my money can be ...
2
votes
1answer
670 views

Does a falling dollar mean doom for real estate?

The Aussie dollar has started its downward trend and is predicted to go down to USD 70 cents. I was planning on purchasing a property for myself to live in. However, members in public forums are ...
4
votes
4answers
151 views

Should I take a personal loan for my postgraduate studies?

About 6 months ago, I embarked on a Master's degree. Prior to this, I did the math on the postgraduate program and set aside about $31,000 on a separate savings account just for the postgraduate ...
3
votes
2answers
284 views

How can I use the equity out of my current property to purchase another one?

I got out a $200,000 loan for a property that is valued at $270,000. I managed to get the property for $250,000 and I threw $50,000 at the deposit. Therefore, I currently owe $200,000. I purchased ...
0
votes
0answers
80 views

Credit Cards and Home Loans

I am based on Sydney Australia. Looking to buy a house here. Customer of one of big 4 banks. Long story short, 6 Months back Talked to my bank about buying a house and discussed about my borrowing ...
3
votes
3answers
442 views

Is it necessary to pay tax if someone lends me money to put into my mortgage?

So I have a fairly big mortgage and a family member of mine has a fairly large sum of cash. As he doesn't want to invest in any investments, it's just sitting there in the bank gaining interest in ...