Tax Cuts and Interest Rates

Discussion in 'Property Market Economics' started by albanga, 3rd Jul, 2019.

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  1. Gockie

    Gockie Life is good ☺️ Premium Member

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    Of course I understood... but not sure @Thedoc got it
     
    Gockie, 5th Jul, 2019
    #41
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  2. JK200SX

    JK200SX Well-Known Member

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    Will this cut be retrospective for the tax returns we all need to do shortly?
     
    JK200SX, 6th Jul, 2019
    #42
  3. albanga

    albanga Well-Known Member

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    Yes. You will receive it within this years lodged tax return.
    Even if you have already lodged the ATO said they will still refund the money back into your account.
     
    albanga, 6th Jul, 2019
    #43
  4. Angel

    Angel Well-Known Member

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    Angel, 6th Jul, 2019
    #44
  5. Waterboy

    Waterboy Well-Known Member

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    if you're earning above $126k there's nothing much to get from the tax cuts until 1 July 2022 (when the $90k threshold is increased to $120k) and more importantly 1 July 2024 when the bracket is abolished and a 30% rate is applied up to $200k.
     
    Waterboy, 6th Jul, 2019
    #45
  6. sumterrence

    sumterrence Well-Known Member

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    We need to understand that in the forum probably majority of us have a mortgage hence the logical thinking was to contribute the tax cut towards mortgage.

    However for the vast majority of the populations that don't have a mortgage, they could really spend it either on a nice present on themselves or their loved one or simply blow it on a couple of nice meals with their friends at a fancy restaurant.
     
    sumterrence, 6th Jul, 2019
    #46
  7. Fargo

    Fargo Well-Known Member

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    No its not , giving away money you don't have and having to borrow it and increasing debt is very different to not taking surpluss
     
    Fargo, 6th Jul, 2019
    #47
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