Looking for easiest way to invest in stock market

Discussion in 'Share Investing Strategies, Theories & Education' started by Dropout, 29th Sep, 2020.

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  1. Dropout

    Dropout Active Member

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    That's great

    When you get dividends from lic or etf do you have to pay taxes same year or when you use them
    I would be reinvesting the dividends automatic
     
    Dropout, 29th Sep, 2020
    #21
  2. Dropout

    Dropout Active Member

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    Nice. I promise i'll try my best to read that book.

    Yes that's the plan right now. Start with 3 to 4 etf or lics and add the value.
    So you reckon i should invest only in oz etf or lics for beginning. I was checking something like betashares NDQ100 been giving good returns.
     
    Dropout, 29th Sep, 2020
    #22
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  3. Islay

    Islay Well-Known Member

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    @Dropout I invest as much as I can as often as I can. I don't try and time the market. Over time it has all just balanced out anyway. We are long term share investors who are now retired and live off the dividends of our investments.
     
    Islay, 29th Sep, 2020
    #23
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  4. Dropout

    Dropout Active Member

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    Congratulations Islay

    Good to hear the success stories of people who tried and made it to the end.
     
    Dropout, 29th Sep, 2020
    #24
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  5. Islay

    Islay Well-Known Member

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    Thank you @Dropout.
     
    Islay, 29th Sep, 2020
    #25
  6. MB18

    MB18 Well-Known Member

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    An Australian ETF/LIC will provide a reasonable dividend/distribution and save on any currency risk.

    NDQ100 would be fine if you have a fairly bullish view on the US tech giants, but I wouldnt base my decision merely on performance to date.
    I hold VGS and the holdings overlap with NDQ100 to some degree anyway.
     
    MB18, 29th Sep, 2020
    #26
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  7. The Y-man

    The Y-man Moderator Staff Member

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    No prob - just keep in mind that putting money in an LIC is in essence just putting money into the same sort of investment (just a different fund manager).

    The Y-man
     
    The Y-man, 29th Sep, 2020
    #27
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  8. SatayKing

    SatayKing Well-Known Member

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    Dividends from Listed Investment Companies:

    Included in your personal income tax return the year they are paid.

    Distributions from Exchange Traded Funds

    Included in your personal tax return the year they are accrued, eg a payment made in July is included in previous financial years return.

    The ETF will issue an annual statement showing the details on where to place the components in the return. (Hopefully, the ATO's auto fill is getting better on that score.)

    And keep very, very good records of all transactions.

    Record Keeping (CGT / Estate) - Shares / LICs / ETFs ...
     
    SatayKing, 30th Sep, 2020
    #28
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  9. Trainee

    Trainee Well-Known Member

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    If you are reinvesting dividends, record keeping is even more important.

    Dividends will need to be disclosed as income that year, AND another copy kept for capital gains in the future.
     
    Trainee, 30th Sep, 2020
    #29
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  10. Dropout

    Dropout Active Member

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    Alright i'll keep this in my mind and will talk to my accountant.
    Thanks for the link will go through it
     
    Dropout, 30th Sep, 2020
    #30
  11. Dropout

    Dropout Active Member

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    I'll start writing the transactions in a diary and keep all the paper work in a separate file

    Thanks Trainee
     
    Dropout, 30th Sep, 2020
    #31
  12. Dropout

    Dropout Active Member

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    Ohh i didn't realise that
    Heard keeping money in super funds don't give good returns. I'm putting money in super to save tax
     
    Dropout, 30th Sep, 2020
    #32
  13. Dropout

    Dropout Active Member

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    Got you. I'll keep it in my mind
    Thanks MB18
     
    Dropout, 30th Sep, 2020
    #33
  14. Dropout

    Dropout Active Member

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    Is there any good Financial planner you guys recommend?
     
    Dropout, 30th Sep, 2020
    #34
  15. Dropout

    Dropout Active Member

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    My accountant recommended me to make a company and a family trust to distribute all the income in family members to save some tax.
    Good idea?
    He said i could invest in stock market through my trust.
     
    Dropout, 30th Sep, 2020
    #35
  16. MB18

    MB18 Well-Known Member

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    As I concluded, and the likes of Aussie Firebug | Financial Independence Retire Early have later decided, it sounds like a good idea but unless you are talking very large sums of money then the cost and complexity tends to negate any benefit (except to perhaps your accountant).
     
    MB18, 30th Sep, 2020
    #36
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  17. The Y-man

    The Y-man Moderator Staff Member

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    If he's your accountant, and he's doing your (and biz) tax returns, I would trust him.

    The Y-man
     
    The Y-man, 30th Sep, 2020
    #37
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