prometheuis » user profile

This is easy - buy anything that is refundable. E.g. Buy an $11k course on your personal credit card, submit the receipt to your company,…

No not quite - because repayments arent deductible.

"to deduct any expense you need to have paid it" I understand this is false. As I understand its optional to complete your tax return on an…

Yes you are right if its lower I should've just done it. But I left it too late and wasn't paying much attention to it before so I have…

I mostly agree with 1-6 but I disagree with point 7. My current mortgage rate is 5.5% (at least last I checked - it does change every month…

I understand that typically CPI will be interest rates - historically this is usually the case. I'm not disputing that. The claim was made…

I'll let you know how it goes.

Thank you it feels good to be understood. Just because some customer service officer at the ATO reads a handbook to me verbatim. Doesn't…

I've provided sources that invalidate both of your prior claims which you seem to be glossing over each time. You just claimed that…

No I'm confused because the specific example given by the ATO states that is allowable to take loans to pay for approved self-education…

Yes 100% I'm on the same page as you. Loan repayments are not a deduction. You don't need to put it in capitals. I have never disputed that…

The typical student interest rate in America is approximately 4.5%. CPI indexation was just 7.1%

You do realise that a capital loss is just another way of saying expense right?

"HECS-HELP debt fees are specifically non-deductible regardless of whether you are working or not, per s26-20." But this isn't the case? If…

I don't see how its possible to not define this as an expense. Its very interesting that so many have this point of view. In any other…

Crow their is a clear distinction between a debt repayment and interest incurred. I dispute that this is a "private non-deductible HECS…

But you're claiming its not an expense? Your claim was that CPI increases are not an expense. So which is it?

I think I've made it very clear that I know HECS debt repayments are not tax deductible. I stated that several times in my original post.

My point of difference is that I don't believe HECS repayments being excluded necessitates that HECS indexation expenses are excluded. I…

You've given more support against your own argument. A commercial lease is usually + CPI. The total lease payment each year is still a tax…

That's just accounting 101. Interest incurred in a FY is an expense. Loan repayments are not an expense (debit liability, credit cash at…

So by your logic my hypothetical construction company doesn't need to pay tax on any CPI increases in his construction sales contracts?…

Thats cheeky ! Thats my own link I shared in this post lol. None of these lines exclude or mention indexation. They are related to…

Yes I understand the function of Indexation vs Interest. But the outcome is the same - I have incurred an expense. I have an amount that I…

Thanks that is very helpful. So Crow was right with the timing issue. So does this mean if you undertook your studies while already in the…

I really do appreciate the debate Crow - it is quite likely I am wrong. So I am just arguing the point to get to the bottom of this. If…

Well your explanation does satisfy how they would justify it. So maybe that is the answer. But I think there is still a hole here - because…

haha although I like your examples. I am simply asking for the legislative support that says indexation is excluded. If interest on a…

Well that actually contradicts the ATO's own standing. Their is a post in their own forums that states a personal loan used to pay off…

I certainly hope so -