AU Taxes Notes

For K AU Taxes, we have a payable. It would’ve been under 100 if it wasn’t for the cash interest received. We somehow received a lot from our Macq. Since K’s at MTR of 30%, and there’s no W/H, it’s a tax payable. I’ll offset from KFI-BInvT Cash Acct as the interest were paid to this account by SEP24.

I’ll start E AU Taxes after we return from Melbourne. Since LITO is 700, that’s 700/20%=3.5K+18.2K=21.7K assessable income within the tax free threshold. I’ll assess the CFCL, and see if we have any offsets after our current CYCL for CLH. Based on my estimates, NG is estimated at 14K. That would leave about 21.7K-14K=7.7K of DFC. Anything over, would need to offset with CFCL.

I’ll transfer EFI-DFC-to-ING Offset for PPM. That would reduce our mortgage interest by about 525-to-575 or 45/monthly.

For EFI, I’ve set target estimates for DXS/AFI/SYI/ROBO/RIO/BHP. RIO/BHP/DXS are our core funds for this year. BHP is trading within their 52WL, and RIO/DXS have reduced their prices within mid-range. Banks are still trading at higher premiums, so we’ll slowly DCA our Buys after Ex-Divs. AFI and SYI are ETFs, so we’ll trade on volatility. ROBO has reduced their price and within our trading range, but no set target as they don’t pay divs, so we’ll monitor and trade on its volatility. Depending on how all of these funds perform during the year, any funds that achieve our Targets+DFC, we’ll transfer to ING Offset for PPM and continue to further save on our mortgage interest costs.

For the upcoming tax year, I’ll contribute the 3K for Spousal Contribution for the tax credit of 540 toward the end of fiscal. 3K/6.79%=44.2K. Instead of transferring 3K to EFI-Holding from EKSh, I’ll offset 2.8K of saved mortgage interest costs from EKSh-to-ESuper, and the .2K (int saved from 3K), from EFI-Holding by MAY25.

For K AU Taxes, we would’ve fully exhausted our CFCL by this tax year, and our capital loss harvesting is now complete since Covid. In addition, Macquarie trading costs are still about 19.95, so we’ve decided to stop trading with them. Even though WBC trading costs have lowered by half to 9.95 under 3K, KFI-BInvT DCA Buys averages 1.75K, and K MTR% is about 30%+, so it’s no longer feasible for us to trade within KFI-BInvT. Instead, we’ll pay mortgage interest saved as a contribution, or will consider purchasing an investment property depending on the property market. For now, we’ll keep our existing investments, and will sell once our target prices are triggered and continue to collect DFC. All KFI-BInvT investments will be transferred to ING Offset.