Re: So, forum financial gurus...

[embee]

Actually Skully you'll pay 14% more for PHI and at least an extra $1680 for Medicare Surcharge

Plibersek is the Minister responsible so what else but quntish pig-ignorant can you expect

[embee]

Health Circular on PHI and MLS

[JGK]

By the way, have I ever mentioned that the ATO are qunts?

[skully]

Actually Skully you'll pay 14% more for PHI and at least an extra $1680 for Medicare Surcharge

Plibersek is the Minister responsible so what else but quntish pig-ignorant can you expect

Health Circular on PHI and MLS

Many thanks, A.

By the way, have I ever mentioned that the ATO are qunts?

Goes without saying, but the farken Pinkos, in their mad-grab-for-cash-after-creating-a-massive-deficit-by-wasting-billions-on-useless-projects, have exacerbated matters massively. Qunts.

[skully]

Actually Skully you'll pay 14% more for PHI and at least an extra $1680 for Medicare Surcharge

I'm just crunching the numbers. I can get below the $168,000 initial threashold by salary sacrificing above $25K to Super, but have to work out if that's cutting my nose off to spite my face, given I'll lose an extra 8% in tax (46.5% compared to 38.5%) on the SSed amount.

[skully]

And how does the PHI rebate reduction work? The Private Health Fund doesn't know how much I earn, so I imagine they would keep charging me the premium that currently includes the 30% rebate. Come tax time, if the Chief and I are over the threshold, do we have to pay that 14% extra that MB quotes to the PHF or to the Govt? I would've thought the PHF.

This is farken confusing.

[skully]

I think I'm actually better off salary sacrificing to Super to reduce my taxable income. The 14% extra PHI + $1680 MLS equates (at the 8% tax difference between Super tax rateand Income tax rate) equates to a break even salary sacrifice of $22,875. I don't need to SS quite that much to get down to the 1st threshold of $168K.

[embee]

And how does the PHI rebate reduction work? The Private Health Fund doesn't know how much I earn, so I imagine they would keep charging me the premium that currently includes the 30% rebate. Come tax time, if the Chief and I are over the threshold, do we have to pay that 14% extra that MB quotes to the PHF or to the Govt? I would've thought the PHF.

This is farken confusing.

Plibersek wouldnt have thought of that ...

Not sure when the PHFs get paid their 30% from the govt but you will get hit at that point (otherwise it isnt a saving to the pinkos if they fork out 30% for everyone and have to claw back the difference from the "rich")

I would think the ATO may provide the PHF with an estimate of your income and you will be charged as per the estimate and any differences sorted out when you lodge your tax return ..will end up very messy

[skully]

I would think the ATO may provide the PHF with an estimate of your income and you will be charged as per the estimate and any differences sorted out when you lodge your tax return ..will end up very messy

Is that legal?? Does the ATO hand out one's estimated income to any other qunts???

At least you are gonna have your workload added to, but I'm not sure you'd see that as a good thing.

[embee]

skulls

Salary sacrificed super is a reportable employer super contribution and count as part of your assessable income for calculating the Medicare Levy Surcharge

ATO link

[skully]

Ah fark. Qunts.

Cheers for the tip, A.

[skully]

Damn handy thread, this. Shoulda started it years ago.

Thanks again to the Gurus for the facts.

[embee]

I would think the ATO may provide the PHF with an estimate of your income and you will be charged as per the estimate and any differences sorted out when you lodge your tax return ..will end up very messy

Is that legal?? Does the ATO hand out one's estimated income to any other qunts???

At least you are gonna have your workload added to, but I'm not sure you'd see that as a good thing.

It would be a range ...not an exact amount

day care centres can get a reasonable estimate of income of parents by the Child Care Benefit percentage

The extra admin costs at ATO and PHF levels will probable take up most of the savings achieved by the changes

[skully]

What a farken shemozzle. Pinkos - definitely COARIAB, cept Thomo.

[Mick Sawyer]

By the way, have I ever mentioned that the ATO are qunts?

I'd blame the barrister.

[JGK]

We don't have one of those.

[Mick Sawyer]

We don't have one of those.

hmm, well that puts it one degree closer to being your fault.

What about some clown from the product development laboratory?

[JGK]

We do have one of those. That's me.

[Mick Sawyer]

We do have one of those. That's me.

**chuckle**

[JGK]

Markets down another 0.7% today. Farking softcocks out there.

[skully]

Facebook shares - the US version of T2.

[horace]

I wonder what the age range was for individual investors

[Big Dog]

Facebook shares - the US version of T2.

Financial advisers are now calling it 'Faceplant'

[horace]

or Faceoff2

[skully]

RBA shaves 25 basis points of official interest rates.

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