Getting a 5K work bonus. How would you use it?

I negotiated a salary increase but they fell short of what I was after but offered an additional 5k bonus for the end of the year to match what I was wanting. So what are your thoughts on the best way to use it?

I work in the building industry and have a few options. I can buy stuff from our suppliers.

Poll Options

  • 4
    Home improvement investment property
  • 8
    Go crazy at Harvey Norman with stuff (work supplier)
  • 11
    Save it, after 4 years get a 20k new home discount
  • 11
    Buy the inlaws a new Kitchen
  • 12
    Just get the bonus pay the tax
  • 15
    Home improvement PPOR
  • 15
    Invest in managed fund
  • 24
    Put it all in super
  • 178
    YOLO with crypto


  • +20

    counting ur chickens before they hatch!
    "offered an additional 5k bonus for the end of the year to match what I was wanting"

    • +3

      My thoughts exactly. I never bank on a bonus until, well, its banked..

  • +10

    Buy half a RTX 3080 :)

    • -5

      Don't sell yourself short, you can get a 3090 for that money for sure.

    • If you are willing to wait 😁

  • +22

    Blackjack & Hookers

    • +4

      Wife said no 😂

      • +10

        Yeah, probably the Blackjack ruin'd it.

        • blackjacks matter

      • to blackjack or hooker?

    • +1

      A hooker named blackjack :)

  • +6

    Before tax tho…

    Surely you have debts to cover? Mortgage etc

    • Pay for insurance…

  • +2

    I thought this was a what-if won lottery. Then realised its $5k.

  • +2

    The new deals page is full of suggestions.

  • +3

    i'll put it in shares and watch it grow.

    • +1

      Massive 7% per year, woahhhh!

  • Super.

  • Buy the inlaws a new Kitchen

    What about your wife? 🤔 or your prefer the doghouse? :D

    • Our kitchen is quite new. Parents is super run down.

      • $5k for fittings and you’ll DIY the job?

        • Yep. Installed a heap of kitchens. Might fall short with 5k with appliances included.

  • +3

    but offered an additional 5k bonus for the end of the year

    My advice, don't spend what you haven't got, and might not get.

    • +1

      Yeah, end of the year is 8 months away - never know what could happen in 8 month's time ….

      • +3

        Not sure why you got negged, planning what to do with a potential $3.5k bonus in 8 months time just seems silly.

  • +2

    If you have a mortgage, put it there.

    • +2

      yeah nah

      • +1

        nah yeah

        • Why kill someone else's fun? >.>

  • +1

    Star, Crown, or Jupiters.

  • +2

    Buy the crypto dip

  • +8

    Put it towards a nursing degree and sit back and enjoy all the coin.

    • Why be a doctor when you get paid more as a nurse!?!?
      T'was a great post
      Pity they gave up their entire lifestyle to get that much

      • 200k post?

        • +1

          I think so.
          That whole thread is as believable as having $46M in crypto

  • +1

    I can buy stuff from our suppliers and pay no tax at all.

    Do you mean you could get $5000 worth of goods as a bonus instead of pay?

    If being paid in money
    - Depending on your tax rate you’ll only actually receive maybe $3500 - $4000.
    - Wait until you actually receive it.
    - If you have any debts with high interest (eg credit cards) pay these off.
    - If no debts I would also consider either
    1) a small but nice holiday/weekend away with the wife
    2) invest/save
    3) home improvement on ppor if it will give you better quality of life or you’re thinking of selling it or renting it out in the future.

    Alternatively if you have a mortgage and you’re not ahead on your payments, consider getting just a bit ahead so if you lose your income for any reason you have a bit of a buffer.

    • +1

      I was under the impression his employer enables him to use it to pay suppliers using pre-tax income, and maybe when he said 'pay no tax at all' he was referring to GST exclusive pricing since B2B?… but I would be a bit wary of potential FBT complexities arising here.

    • +1

      I interpreted it as receiving 5k worth of building supplies from employer and ignoring FBT.

      Not judging.

  • Do you mean end of 2021 or end of financial year?

    • 2021 end

      • +5

        Bit early to be deciding what to do with a small amount of money?

  • +8

    Can’t wait to see OP’s face when he realises it’s only $3k after tax

    • +5

      It's depressing isn't it.

  • +1

    It's a sign of the times when not one person says 'All on black'… I mean to say that crypto is the new gambling, except that when we all lost on alt-coins in December 2017, we would have been wise to keep them as you would most likely be up as of today.

  • +1

    Get the mates rate on the building supplies and use the supplies for a reno of your place or very close family. Remember to ensure you get the goods at the wholesale price as it will end up being allot more value.

  • You were asking for the money anyway right via pay increase?

    What were you wanting out of it in the first place? <- that'll help you spend it.

    • Just wanted more monies wasn't expecting the bonus but like the idea of not paying tax on it.

      • "like the idea of not paying tax on it."

        Why don't you pay tax on it?

      • That’s not how bonus’s by the book work - there’s tax on it.

      • It’s the building trade. We’re talking cash

  • +1

    So we’re really talking 3k, if that after tax & super … you’re over thinking it. treat yourselves to a luxury weekend away, consider it a valuable investment in your marriage/future.

  • If you're me, it would be spending months trying out cellos and finally buying a really good one, then having cats get various illnesses and wishing you hadn't as they cost several ks at the vets :-/

  • -1

    shares, long term investment

  • +1

    Because I could never decide what to do with bonuses I ended up with this plan - one third off mortgage, one third into savings, one third to blow on whatever I felt like buying. I do the same with tax refund and overtime.

  • Start a jenkem farm and actually enjoy life

  • -1

    Whoever voted for YOLO on crypto is asking for trouble.
    We'll soon need to vote in a new poll about what to do with $1M crypto earnings…

    • +1

      Shitcoins ftw

  • -2

    Invest in Cardano

  • +1


  • +1

    What do people in the building industry get bonuses for?

    • +3

      Not quitting for a better job before the end of the year.

  • -2

    Pay cc and bills, rest all in safemoon. Once you have enough for R34 GTR. Then buy that.

  • Big TV, some wall shaking speakers, the new xbox, and buy it all now.

  • Doge coin :)

  • hookers n blow

  • +1

    So the employer promises you a bonus this year and you agreed over the payrise. Have you thought of subsequent years? Given the bonus will be lumpsum, most of it will be taxed (if they live up to their promise). Do you have this in writing?

    • Absolutely. It was a payrise and a bonus.

      I have a copy as well.

      Not concerned. They need me.

  • +1

    if you normally have all you other expenses and debts taken care of by your monthly salary, i’d say spend it on a family vacation.

  • +2

    Help pay part of a stripper's uni fees.

  • "I work in the building industry and have a few options. I can buy stuff from our suppliers and pay no tax at all"

    Employer hasn't heard of Fringe Benefits Tax. Only first $1k of in-house benefit can be reduced.

    ATO on to this post

  • I always smash that sh1t off my mortgage either directly or into an offset.

  • +1

    Definitely go on a trip to Fhloston Paradise.

  • -1

    Doge coin

  • Interesting that people still think they need to "spend" more money they come across. What ever happened to saving/investing…

  • Escorts for the night

  • Cocaine and hookers

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