Crypto smashed over the weekend. Still $1500 up from original investment and things are bouncing back
Crypto smashed over the weekend. Still $1500 up from original investment and things are bouncing back
If anyone was reckless enough to take my Nano advice on Friday, they would have nearly doubled their money overnight. I was up 120% at one point. Seems to have settled down and now sitting at about 90-100% up.
Right, i have taken the plunge
Probably a good time. It’s been a bloodbath the last few days.
I tried to join etoro to buy some crypto about two months ago, they fucked up the validation and it took until last week for me to get it back and keen a coinbase account. Alas
So where’s everyone getting their Crypto Intel from? Been looking at a few mentioned previously but interested in any other reliable info out there.
random dudes on twitter who’ve based their entire existence and personality on a coin they picked 5 years ago who constantly spiel out “it’s coming” and post emojis
Now that is some profit. Sydney FC’s Scott Barlow sells Point Piper house for $60 million as environmentalist Geoff Cousins buys Paddington penthouse for $20 million
Been using Robinhood a bit recently and really enjoying the simplicity of it. Are Australian regulations likely to change to allow somwthing similar to enter the market there?
Outside of my Super, im relatively new to shares and etfs etc. But ive made about %7 on $5k i put in 6 months ago. Pretty happy with that so far.
Raiz (previously known as acorns) do simple ETF’s for you, you just select what type of investments you want.
It works by rounding up your card transactions to the nearest dollar (but you can also add your own funds to it if you want to straight invest), works like your old change jar. I check on mine every 3-4 months and have about a grand in it to spend on something dumb.
You can never go past bricks and mortar, especially in Point Piper…
Not sure if this is the right thread but we’re doing our first tax return with having rented out our apartment this last financial year.
Accountant has recommended we get a depreciation report to claim depreciation… Ive tried to read up on it but I’m generally hopeless with this sort of stuff. It may as well be in a foreign language
Anyone have any thoughts or general Intel?
On whether to get a depreciation report and listen to your accountant, or whether to try and calculate it yourself?
If it’s the former, listen to your accountant and get a depreciation report. The ATO recently published some stats which outlined that 9/10 people get rental investments wrong in their tax return and that they’ll be scrutinising these claims closely this year.
No way would I ever do it myself… I suppose the question is more realting to is it worth getting one at all?
I understand there’s benefits in having one, and that we only need to get it done once which will last the life of the property. I guess I’m a bit lost on how much more beneficial it will be when it comes to depreciation entitlements vs general itemised expenses and costs
You’re depreciating the items in the house (flooring, curtains, oven, stove, etc). So that you can claim the value of their depreciation over x years, reducing your tax liability.
Depending on how old the property is, and the items within it - it may not be worth doing at all.
E.g. fake wood flooring has a 7-8 year life span. If you replaced the flooring 6 years ago you’d only get a year or two depreciation, right at the end of the lifecycle (five fifths of fuck all). If you replaced the flooring last year, it’d be worth doing it.
There are specific companies who will provide a depreciation report, which you give to your accountant who then includes in your return.
This is not financial advice.
The cost of the report would be tax deductible, I’d imagine
It’s an old 1970s apartment block, but ours was fully renovated in about 2016-17 before we bought it.
We can claim the report on next year’s return but I’ll suss out the quote and make the call.
https://www.bmtqs.com.au/residential-property-depreciation
Can I claim previous renovations? Yes. Anything in the property that is part of a previous renovation will be estimated by our quantity surveyors and depreciated accordingly, even if the work was completed by a previous owner. This includes items that are not obvious, for example new plumbing, water proofing or electrical wiring.
Some good news there. That was like the first google result too.
In my mind, if you’re paying an expert to do a job and they’re telling you to get something done, I would very much do it