mb.c community help board

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gnat
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mb.c community help board

Post by gnat »

one of the enduring great things about mb is the community of it. we all have tips and recommendations we could offer, potentially mates rates etc or bump a mate's business etc..

Do you have a reputable mechanic, know of a good tradie etc etc.. we know people

Post what you need or recommend up here

I'm looking for someone to replace a couple of floating floorboards in my place. Anyone know anyone who does this?
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Re: mb.c community help board

Post by Lizkins »

good idea lovey!

not sure i know of anyone on the floating boards, but i can ask my boy. tradie friends...


i need to know whether its better to:

a) open a non-interest earning savings account to save for my house deposit - which means i wont get taxed on the interest i earn; or

b) keep the money in my ING high interest earning account and get taxed on the interest.

which is better in the long run? i was pissed to have to pay tax on the interest as its like a step forward and then a step back again.
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Re: mb.c community help board

Post by Fents »

gnat is it real floating timber boards? cause i have a mate who does the fake stuff....
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Re: mb.c community help board

Post by ghetto kitty »

I was thinking of posting a I NEED ANSWERS thread the other day, nice one gnat!

Although i cant help with first two requests.

ahem.
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Re: mb.c community help board

Post by mrj »

Lizkins wrote:good idea lovey!

not sure i know of anyone on the floating boards, but i can ask my boy. tradie friends...


i need to know whether its better to:

a) open a non-interest earning savings account to save for my house deposit - which means i wont get taxed on the interest i earn; or

b) keep the money in my ING high interest earning account and get taxed on the interest.

which is better in the long run? i was pissed to have to pay tax on the interest as its like a step forward and then a step back again.
well its not really a step back because you only pay tax on the interest not the principal. its just less of a step forward.

i think the problem here is the administration is a pain, and whether you want to do more admin is a personal choice.

but, from a pure financial perspective, the high interest is better. earning some money is better than earning no money, even if some of that money is taken away in tax. 1>0 yanno.
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Re: mb.c community help board

Post by gnat »

they're real ones fents. seems simple enough in theory but i bet it's not lol. pull off the little skirting board and pull em up right.. they're varying lengths but none more than 3 ft in that area so would have to cut to fit

liz- mortgage saver account is prob what you want..
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Re: mb.c community help board

Post by Fents »

best of getting that done proper gnat. would look horrible if it was done wrong.
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Re: mb.c community help board

Post by ADD_Boy »

Liz. In the long run earning interest is the way to go..

U only get taxed on a percentage which means at the end of the day you will be better off.

Those non interest bearing accounts are a scam and only benifit the banks..

for example, you have 50K in ing.. You earn 3K interest.. They'll only take (depending on your salary) up to 50%.. all in all better off to earn something for nothing innit?
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Re: mb.c community help board

Post by kronz »

Lizkins wrote:good idea lovey!

not sure i know of anyone on the floating boards, but i can ask my boy. tradie friends...


i need to know whether its better to:

a) open a non-interest earning savings account to save for my house deposit - which means i wont get taxed on the interest i earn; or

b) keep the money in my ING high interest earning account and get taxed on the interest.

which is better in the long run? i was pissed to have to pay tax on the interest as its like a step forward and then a step back again.

Definatly go with the interest earning account. Yeah interest is tax but it will never be taxed at the whole amount so you will ALWAYS be in a beter situation than if you were not earning interest.

Make your money work for you otherwise you may as well put it under the matress.
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Re: mb.c community help board

Post by ADD_Boy »

sounds like my grandpa used to say kronz... :) "go out and work for your money then send it out to work for you..."
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Re: mb.c community help board

Post by ghetto kitty »

all this talk of paying tax on interest and i was planning on not telling accountant today i even have savings.

hmmm.
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Re: mb.c community help board

Post by ADD_Boy »

not worth it if they audit u .. and they know u earning interest..

they audit EVERYTHING ive heard not only the discrepency..
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Re: mb.c community help board

Post by spiral »

ghetto kitty wrote:all this talk of paying tax on interest and i was planning on not telling accountant today i even have savings.

hmmm.
bad move - ATO prolly already know all your bank accounts and how much they earn before you put in return
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Re: mb.c community help board

Post by Lizkins »

cheers all for the help, i figured that would be the way to go, just wasn't so sure aye. Now i know and will stick with my ING account


GK - wouldn't recommend not telling them, that is how they got me. I got a letter in the mail telling me that i had not stated in my return last year about my ING account. I didn't realise i had too...
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Re: mb.c community help board

Post by ghetto kitty »

yeah he had it all there in front of him already upon punching my name in the system, and we spoke of asio and other such things.
and then we proceeded to find as many loopholes as possible together.

win.
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Re: mb.c community help board

Post by elysium »

ADD_Boy wrote:Liz. In the long run earning interest is the way to go..

U only get taxed on a percentage which means at the end of the day you will be better off.

Those non interest bearing accounts are a scam and only benifit the banks..

for example, you have 50K in ing.. You earn 3K interest.. They'll only take (depending on your salary) up to 50%.. all in all better off to earn something for nothing innit?
better off under the mattress than in a non-interest bearing account. Like luke josh says you are only paying tax on the interest you are earning on the amount you put in, not on the whole lot... so even after you pay that out you are still in a better position than if your put your savings in a non interest bearing account.
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Re: mb.c community help board

Post by retzie »

Correct me if I'm wrong, but if you happened to earn enough interest to bump you up a tax bracket, then you could actually lose significant cash. Only an issue if you're on the edge, but still... I'm not sure they think we're that stupid.
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Re: mb.c community help board

Post by mrj »

retzie wrote:Correct me if I'm wrong, but if you happened to earn enough interest to bump you up a tax bracket, then you could actually lose significant cash. Only an issue if you're on the edge, but still... I'm not sure they think we're that stupid.
not correct.

when you move into a higher tax bracket you only pay the higher tax rate on the amount you are over and above the new bracket entry point.

you do not go backwards in salary by moving tax brackets.
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Re: mb.c community help board

Post by retzie »

^^ Hrm, I'm sure a mate was having a whinge at one point because his missus took home more than he did even though he earned more because of some bracket threshold funny business. Tbh, I have no idea. Maybe they really do think we are that stupid Image
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Re: mb.c community help board

Post by kronz »

Marginal tax system as Josh was syaing. This table shoudl explain it for you all

Taxable income /Tax on this income

$1 – $6,000 / Nil

$6,001 – $34,000 / 15c for each $1 over $6,000

$34,001 – $80,000 / $4,200 plus 30c for each $1 over $34,000

$80,001 – $180,000 /$18,000 plus 40c for each $1 over $80,000

$180,001 and over / $58,000 plus 45c for each $1 over $180,000
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Re: mb.c community help board

Post by deviant »

retzie wrote:^^ Hrm, I'm sure a mate was having a whinge at one point because his missus took home more than he did even though he earned more because of some bracket threshold funny business. Tbh, I have no idea. Maybe they really do think we are that stupid Image
might have been HECS or Medicare or some fluff.
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Re: mb.c community help board

Post by retzie »

Ah, prolly something HECS-related. Do your HECS repayments go up according to tax bracket?

Meanwhile, Mission: Never Pay Back My HECS is going well. Force me out of my own damn country through lack of funding and I won't pay you back, motherfuckers :smt023
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Post by deviant »

I am strongly considering paying mine in full soon... discount ftw!
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Re: mb.c community help board

Post by ghetto kitty »

thread title should be changed to 'Mb.com financial information for noobs"

:lol:

i think its quite smart that i have been to uni 3 times and each time dropped out the day before HECS kicked in each time. hahaha. no piece of paper and debt for ME!
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Re: mb.c community help board

Post by mrj »

retzie wrote:Ah, prolly something HECS-related. Do your HECS repayments go up according to tax bracket?

Meanwhile, Mission: Never Pay Back My HECS is going well. Force me out of my own damn country through lack of funding and I won't pay you back, motherfuckers :smt023
That's fine, although when you say "I won't pay you back" the you being referred to is actually the tax payer meaning me, you (when you were here) and everybody else on this board, so no worries but please don't call us mother fuckers. Just saying hey, it was our money in the first place, which you borrowed for your education, so if you can find it in yourself to give it back at some point that would be great.

Also not paying the money back is one of many of such cases that provides even less incentive for funding to be provided for HECS places for local students (and instead results in preferences for full fee paying internationals).

Again this is fine, but I just think theres a fair bit of irony in saying you won't pay for your education and then in the same sentence complaining about the amount of funding in said system.

I know its not a strict in/out, and that money paid in HECS doesn't neccesarily flow back to education, but i think you see my point.
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Re: mb.c community help board

Post by FoundationStepper »

Well put

Its also interesting that the taxpayer assisted eduction which gives one the means to find worthwhile overseas work to dodge the debt
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Re: mb.c community help board

Post by Lizkins »

deviant wrote:I am strongly considering paying mine in full soon... discount ftw!

if ya pay it back in full don't tell your employer and you should get like 3k to 4k next year back at tax time. i did it for years and it was a great way to save without ever seeing the money. only downside is that you are not earning interest on it. but on the up side you will never spend it, or take that money out of an account or whatever.
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Re: mb.c community help board

Post by Blaxter »

Liz what is with you and all your scams to not get paid interest on your money. That's your 2nd one in the past week.
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Re: mb.c community help board

Post by retzie »

Bah, tired bitter post is tired and bitter. I would pay my HECS back in a heartbeat if it meant I could come back to work in Oz. If I weren't still recovering from the huge financial hit I took moving over here, I may even consider paying some of it back now. I was just being flippant and essentially saying "well, I don't want to come to your birthday party anyway." Measured/gracious/fair? No. Mildly cathartic? Yes. Sorry :noteef:
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Re: mb.c community help board

Post by Amick »

interesting for a community board there's no one looking for swinger couples yet...
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Re: mb.c community help board

Post by huge »

anyone know which bank in the city that has one of those things you can tip the contents of your piggy bank into and it will spit out paper cash money receipts?
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Re: mb.c community help board

Post by deviant »

I think ANZ on the corner of collins and elizabeth has one :D
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Re: mb.c community help board

Post by FoundationStepper »

it does, but a fair charge if you aren't an ANZ customer
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Post by huge »

i have an anz credit card woop, thanks guys.
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Re: mb.c community help board

Post by Lizkins »

Blaxter wrote:Liz what is with you and all your scams to not get paid interest on your money. That's your 2nd one in the past week.

scams? wouldn't call em scams dude. just different ways to handle your money is all.
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Post by huge »

$93.50 boom

would charge $17 if you're not an account holder far out.
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Post by deviant »

$93.50 fail

I have over $150 in mine... I know this because I have one of these...

http://cgi.ebay.co.uk/DIGITAL-LCD-COIN- ... 1003r36789

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Re: mb.c community help board

Post by Blaxter »

Lizkins wrote:
Blaxter wrote:Liz what is with you and all your scams to not get paid interest on your money. That's your 2nd one in the past week.

scams? wouldn't call em scams dude. just different ways to handle your money is all.
Well lets call them injteresting ways to voluntarily diddle yourself outy of potnetial interest earnt with your own money.
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Post by Lizkins »

:? thanks for caring so much about my money Jaz, real nice of you.

don't think its that odd really though. and its not against the law either. so your use of the word 'scam' seems a bit out of context.
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Re: mb.c community help board

Post by system »

huge wrote:anyone know which bank in the city that has one of those things you can tip the contents of your piggy bank into and it will spit out paper cash money receipts?
the commonwealth bank does in the sydney cbd, they may have one in the melbourne cbd office too.
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Re: mb.c community help board

Post by ghetto kitty »

yeah commonwealth on swanston has one.

but you have to bank with them as well or they charge ya.
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Re: mb.c community help board

Post by mrj »

Lizkins wrote::? thanks for caring so much about my money Jaz, real nice of you.

don't think its that odd really though. and its not against the law either. so your use of the word 'scam' seems a bit out of context.
i think the use of the term scam was just tongue in cheek Liz, he wasn't calling you a criminal.
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Re: mb.c community help board

Post by Blaxter »

@ Liz. Seeing as you'd aonly be doing yourself out of cash it's probably not avery good scam. I don't think something has to be illegal to be a scam though.
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Re: mb.c community help board

Post by DBoy »

everyone should definately come to this...

Image
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Re: mb.c community help board

Post by witty_pseudonym »

^ heartily endorsed. very much looking forward to it. :D
...
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Re: mb.c community help board

Post by Lizkins »

Blaxter wrote:@ Liz. Seeing as you'd aonly be doing yourself out of cash it's probably not avery good scam. I don't think something has to be illegal to be a scam though.


i guess, but i associate the word to defrauding the system, or getting money by means that are not entirely lawful or honest. This would be neither. And its not a means to neglect myself of interest, it was preventative from me spending the money at all. If the money was in a high interest account i could still take it out and spend it. pointless i thought. it was far better to get it taken from my pay every fortnight and then get it back at tax time. i wasn't very good with money back then (still not very good really but getting better), and this secured myself some mo money in a lump sum
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Re: mb.c community help board

Post by ghetto kitty »

hey guys...

i need to find some people who will host a quiz night or two @ libs, preferably music related...
im googling to no effect.

any ideas?
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Re: mb.c community help board

Post by Lizkins »

you mean like a trivia quiz company? cos i have the card from the dude who runs the Mitre Tavern one in the city. actually i might have thrown it out, will have to look. anyways, he said they will do whatever suits the type of night, but i was asking for my work which is quite diff from Libs lol
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Re: mb.c community help board

Post by Blaxter »

OK. Looking for info about Industrial 3 Zone. Regulations covering activities, required permits etc.
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