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Insights Hub
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Age Pension planning time:
(A) $1M house +$1M investments + Nil Age Pension
(B) $1.6M house + 400k Investments + Full Age Pension.
As you near age pension age should you swap from A to B?
Is my Ute a car? a common tax question. We got really touchy about this when Utes went from a 2 seater to 5 seater. So many tradies with baby seats. The 1 tonne carrying capacity question became important because it meant only big utes were not cars. 1/
Over time I have read various tax rulings about how to calculate that 1 tonne. I have read that we need to allow for a driver (80kg) plus the tray plus the air conditioner. So allow maybe 1300kg to be safe. Imagine not knowing this until half way through the audit. /2
I was putting in new windows today. The top of the window was out of alignment, the manufacturer made a mistake. I had absolutely no idea what to do. I wasn’t cranky just lost. Bob the builder went A,B,C will happen…..you don’t value a professional until ugly happens.
Age Pension planning time:
(A) $1M house +$1M investments + Nil Age Pension
(B) $1.6M house + 400k Investments + Full Age Pension.
As you near age pension age should you swap from A to B?
Is my Ute a car? a common tax question. We got really touchy about this when Utes went from a 2 seater to 5 seater. So many tradies with baby seats. The 1 tonne carrying capacity question became important because it meant only big utes were not cars. 1/
Over time I have read various tax rulings about how to calculate that 1 tonne. I have read that we need to allow for a driver (80kg) plus the tray plus the air conditioner. So allow maybe 1300kg to be safe. Imagine not knowing this until half way through the audit. /2
I was putting in new windows today. The top of the window was out of alignment, the manufacturer made a mistake. I had absolutely no idea what to do. I wasn’t cranky just lost. Bob the builder went A,B,C will happen…..you don’t value a professional until ugly happens.
