Vic Wasteland Thread

[CrispyFries]

Since this is the tax thread, what's the deal with leave payouts when you quit? How much do you/should you be taxed?

[Rizzz]

in short they suck.

sure it only $35 but there is a traffic jam out there they put extra cars out to make sure you go slow

basically every dick who thinks their VN vacationer is a v8 supercar is there.

if you want to try a low stress intro to track

do a winton Test and tune, which run ever Friday ~120-150$ and you get a shit load of track time.

or a tampered day at winton which allows passengers all day and does timing.

or better yet suck it up and come to one of our track days

Yeah I had a good feeling Every Redneck would be there,

hopefully not many people turn up!

Just want to see if i enjoy it, then ill take the plunge and get a competitor license from CAMS and do a Test and Tune day

[Rekin]

Just smashed a zinger double down with supercharger sauce. Omnomnom KFC

Weather is bloody nice too. Back to my office in the windowless factory

[emts]

Yeah I had a good feeling Every Redneck would be there,

hopefully not many people turn up!

Just want to see if i enjoy it, then ill take the plunge and get a competitor license from CAMS and do a Test and Tune day

last time I knew people who went there was about 300 in attendance...

last time I did a test and tune about 60..

[emts]

So there a chance you might get to hit accelerator in the straights but....

[HEKT1K]

Just smashed a zinger double down with supercharger sauce. Omnomnom KFC

Weather is bloody nice too. Back to my office in the windowless factory

Smashing a fillet double atm haha

[blah_blah]

Since this is the tax thread, what's the deal with leave payouts when you quit? How much do you/should you be taxed?

In reference to an Annual leave payout its just at your marginal tax rate

Feel free to shout me a beer next time your out at Garage Cafe

Just smashed a zinger double down with supercharger sauce. Omnomnom KFC

Weather is bloody nice too. Back to my office in the windowless factory

But fresh aroma of Cadbury milk chocolate?

So there a chance you might get to hit accelerator in the straights but....

Evo is thinking.

Soon....

[HEKT1K]

Since this is the tax thread, what's the deal with leave payouts when you quit? How much do you/should you be taxed?

Lump sum payments will be listed separately on your payment summary (group cert)

In most cases it's just ordinary income, usual rules apply

[CrispyFries]

So normal salary + lump sum that bumps a bracket = tax debt?

[Rekin]

Smashing a fillet double atm haha

Boss

[Birds]

So normal salary + lump sum that bumps a bracket = tax debt?

Correcto...

I think money made from bank interest is the same, counts as part of your income rather than CGT...Tony? lol

[Rekin]

But fresh aroma of Cadbury milk chocolate?

Haha true. Smells good when crunchie being made. Whole factory smells like honeycomb. The school next door gets to smell it all haha

[GTRRKT]

C200?

Do you get a complimentary P.Diddy white suit, top hat & cane?

50% there.

Early payments get you a 10% discount, in addition paying it before 1 June (IIRC) means no inflation is charged. So in total this works out to be ~13-15%.

This is only most beneficial when your tax return is going to lead to a compulsory final payout.

Just got off the phone to the ATO about this...I have been paying extra tax each fortnight in order to pay off my HECS. Big mistake lol. I'm just going to make a lump sum payment each year.

[Birds]

Being good without the discount incentive lol

feelsbatman

[alr33x]

You can be my Grad Accountant. Tax season is coming.... I need to brace myself with the onslaught of upcoming enquires.

I rkn my knowledge is pretty good considering I'm not an accoutant lol

I don't have a hecs debt but as a tax payer I think the interest should be much higher to incentivize the money to be paid back ASAP not leisurely and any tax returns should automatically be directed to paying down outstanding debts.

Yeh I'm a hardass when it comes to 'government funding' of stuff... Since its really my fuggin money.

Edited June 27, 2012 by alr33x

[HEKT1K]

Correcto...

I think money made from bank interest is the same, counts as part of your income rather than CGT...Tony? lol

Yep bank interest is income

[Rizzz]

So there a chance you might get to hit accelerator in the straights but....

Mmm doesnt look like i could use much of the power with this amount of cars.

May invest in a car bra aswel to stop all the stones and crap hitting the front.

haha the hyundai!

[Birds]

Just smashed a zinger double down with supercharger sauce. Omnomnom KFC

Weather is bloody nice too. Back to my office in the windowless factory

Which KFC can we still get these from? Thought they got rid of them

[blah_blah]

Just got off the phone to the ATO about this...I have been paying extra tax each fortnight in order to pay off my HECS. Big mistake lol. I'm just going to make a lump sum payment each year.

I think you misunderstood, only really advantageous when it is your final payment.

[blah_blah]

Open up wasteland thread to see lulz yet see more tax