I knoooow it’s a long shot and please no lectures I feel stupid. 5 business days ago I sent $250 to a marketplace seller’s PayID for an item and it hasn’t arrived. To give myself some comfort I asked him to send me his drivers license and he recorded his phone screen going from our chat into the SA gov app to show me his L’s. Looked legit.

I’ve called my bank and asked to reverse the transaction which comes with the standard 45 day turnaround.

I have called the number and it goes to an automated voicemail. He interestingly hasn’t blocked me on fb but I feel has been trying to stall me - I asked for tracking to be added and he didn’t do that. Says he used an old postage bag he had. Then he said he’d look for a receipt when I pressed him and silence since then.

What are the chances of recovery here?

Hello, I'm new in Australia and possibly stay here for around 2 years for my studies.

I got quite interested to credit card, especially due to their benefit (discount, voucher, or accumulated redeemed points like flybuys etc).

Is there any consideration and recommendations for it?

Thanks!

Searched through this sub and couldn’t find exactly what I’m after.

I’m currently employed as a marketing manager and have made the decision to start freelancing to increase my income. I’ve been doing some research but not exactly sure how I should be structuring it, what would be claimable, how the financial reporting works etc. Doe anyone have any good resources or video where I can learn all of this stuff or tips for the business set up? Current job is in the same field but would be PAYG, is it better to renegotiate to sub contract out to him instead of class it as a primary income?

I’m planning to meet with an accountant in the next 2 weeks so any ideas on questions to ask them too would be beneficial.

Here’s some information about the structure of the business:

• Have an ABN (set up as sole trader back when I worked for Uber, under my name, not the business name)
• uses some expensive software (SEMrush is $140 a month, adobe CC subscriptions for anything that affinity can’t do, Xero etc) for work.
• business located in Metro Victoria
• doing work for businesses currently in Aus but may expand as I can work remote
• no business account or financial reporting stuff has been set up, currently researching and soft launching things that’s aren’t related to finances

My Super balance just ticked over the $250,000 mark. I know this isn't much compared to most people posting here, especially at my age (49) but this is a case of "you're never too old to start."

I did a lot of casual jobs when I was younger and a combination of that, employers not paying super and poorly performing funds, my super balance was atrocious.

I've managed to double my super in the last 5 years through extra contributions and a well performing fund.

Thanks for all the advice posted on here. This place and the Barefoot Investor have got me back on track financially and I just wanted to say, it really is never too late to start.

We found out last year that consultation fees were exempt with our coverage after being hit with a $275 dollar vet bill. We asked if we could up our coverage so that consultation fees were covered. Our cat is indoors and at most we see the vet 3 times a year for routine treatment. Our Cat is also being treated for mild anxiety.
We went to the vet today got the regular oil change got hit with a $270 vet bill and we were out of pocket $170. The consultation fee was $140.
After increasing our coverage and being reassured that the consultation was included they seem to of some how found a loop hole.
What is the point of having Pet Insurance ??

Hi all, I’m starting a job next year in January which allows me to salary sacrifice. I only have until April 25 to claim the entire amount before the new FBT year starts - can I salary sacrifice items I have already spent money on before starting to work (e.g. previous credit card bills or accommodation/food for overseas trip in December 2024)?

Hi everyone, 30M I have 10k to spare and will add it to it monthly, looking for something long term, a few or many years that I don't have to monitor daily and will continue to grow.

Currently have HISA but thinking of putting money into ETFs which I think I would have to watch closely. But what about something like the asx 300 or just extra into super?

Any other options I havent considered and should?

Any advice would be appreciated, any videos or places I can read or learn more based off your suggestions would also be appreciated. Cheers!

What are we thinking the home loan interest rates will be mid year next year?

I will be taking over the title and remaining home loan of my previously shared property of my ex partner. My interest rate was locked in at 2.9%! Are there any schemes available to people like me? I have a disability. I plan to knock off about 70k off what remains and am using my pension, child support & ftb as my income and some small passive incomes. Fyi my credit union accepts those as my lived income.

TIA

Hi, I (25M) recently came into a decently sized inheritance and am looking to buy a house outright in Canberra.

I've found a couple dream places that would cost me about 80-90% of the money as opposed to less amazing properties for 50-60%.

I'm only 25 and have no plans to travel the world or anything. I have a full time job that pays well and will put whatever's left over in a managed investment fund.

I just wanted to get some opinions on whether spending the majority of a large inheritance on a property rather than saving is crazy or not.

Thank you.

Hi everyone,

I have a portfolio primarily made up of US stocks and ETFs (US-domiciled). I'm planning to move overseas permanently and am an Australian citizen. I'm considering not opting for the deemed disposal of these assets when I leave.

Does anyone know if these assets would still be considered Australian Taxable Property (TAP) after I become a non-resident? If not, would CGT need to be paid in Australia when I sell them later, or only in the country where I become a tax resident?

Thanks for your help!

Out of my control (It was an overseas refund).. I'm hoping someone has had some success with this..

Hello everyone,

I'm reaching out for some suggestions regarding the situation outlined below. I know it's a bit specific, but my goal is to explore different options, especially since I currently manage most of the financial aspects. While I’ll be consulting with a few financial advisors, I wanted to see if there are any possibilities that we might not have considered yet.

Current situation:

• Single parent income, with the other parent now retired.
• Property value: $2.2m - $2.3m
• Remaining mortgage: $400k
• Combined income (myself and my partner): $230k, though my partner has their own mortgage.
• Our parents' plan: Ultimately sell the property, purchase a unit or townhouse for around $1m, and use the remaining funds for retirement (one parent will still be working for some time - currently expected around 8 - 10 years)

Are there any better financial options we could explore? Our parents have suggested that we might be able to buy the property, but we’re unsure of how that would work.

They’re open to ideas and want to help support me and my future, so any suggestions are welcome.

We fully recognize this may come across as selfish, but that’s certainly not our intention. We’re more than happy to help support my parents, but if they’re willing to help us as well, we would definitely appreciate it.

Thanks!

First time buying international stocks (US ones). When I go to buy at market value, what I'm being asked to pay seems very high. I'm looking at a difference of several hundred dollars over the base currency conversion price.

I've looked at the fees and for a transaction worth ~2500, I'm failing to see where these fees are. I thought it would attract a fee of $9.95 to $29.95. But not 270 odd dollars.

I can't see the breakdown when making the request. When I hit preview, it just says, "XYZ AUD Cash needed for this order and ther pending orders: XYZ AUD" - but I haven't made any other orders.

Suggestions welcome.

Hey everyone! I’m curious about the AUD and USD exchange rates. I work overseas and I’m getting paid in USD, but I have some big expenses coming up next year, including my dad’s hospital bills and his house renovations. I’ve some thoughts the AUD might drop further in 2025 (China reacting to tariff).

What are your thoughts on where the AUD will be headed? Any insights on whether I should wait or act now? Thanks!

Hi all, is it worth the hassle of having you rental property listed as a airbnb rather normally go thru a REA/Property manager?

Beside of the cost of having the airbnb furnished?

Hi yall

I'm looking for a graph that shows tax bracket creep over time, to see how marginal tax rates have changed over the years.

would be interesting to see thats all, and I cant find anything online.

let me know if you have a source for this! :D

Just started my novated lease on a new electric car. Main driver for getting on the lease was the tax benefits due to my income sitting on the edge of the 45% tax bracket.

Wondering if anyone was keen to share some things to look out for, tips or hacks that may not be obvious. First time leaser so I’m still learning the ropes.

Hi AusFin community!

I would love to get some POVs on my current situation. I own my first property, a 2 bed townhouse in Glenroy, VIC. Was my first home previously. Currently rented out $480 p/w. Mortgage is fixed which ends in April 2025. The property pays for itself but my cashflow will be -$500 roughly when it comes off the fixed period. Will get tax back to help as it is negatively geared.

I’m debating whether to sell or keep it. The value has reduced from a few years ago when it was around $500k to similar properties selling around $470-480k. I don’t have huge equity (would likely walk away with $40k after all costs) as I took some out to buy an IP which wasn’t a good investment.

I am unsure whether I should hold on, as when/if interest rates fall and property prices see an increase - I’d hate to miss out. I have held on to this property for quite awhile on the basis of it eventually paying me an income years down the line but I’m wondering if the trade off reducing my cashflow and lifestyle now (to improve my future situation) along with limited gains isn’t worth it and I would be better off simplifying without the hassle of an IP in Victoria and putting the money into super or shares? Or is it worth holding on and seeing how the market turns? I have a bit of time before the fixed period ends so I don’t have to make a decision but I’d love some perspectives on this. Thank you.

https://www.abc.net.au/news/2024-12-02/aemo-demands-emergency-backstop-to-switch-off-solar/104670332

At the moment, in my opinion, new residential roof top solar only makes economic sense if you can use the generated electricity yourself. Typically this means its usefulness is restricted to the following applications:

- daytime charging of an electric car at home

- running the pool pump

- heating / cooling systems with thermal storage

- systems with supplemental battery storage

- Hot water heating

The problem is that if the grid automatically shuts down your inverter, it probably won't also shut down the load you are running. Eg Pool Pump.

So instead of having,  a 1.5Kw pool pump powered mostly by solar from a 2.5Kw system, for 8 hours per day. The Inverter would function in the morning when it achieves an output of  1Kw, shutdown at midday (when you can expect rated output) and startup again mid/late afternoon. The system would never actually export any power AND you'd be paying grid electricity for between 2 and 4 hours in the middle of the day.

Been banking with Rabobank to take advantage of their high interest rates for about 6 months and just today… they’re late with their interest payments which automatically go through at midnight 12.01am on the 1st day of each month! Hundreds of callers have jammed Rabobank’s call center and no one can get through! Starting to get worried about the rest of my money !!!

I have looked it up and it really just confuses the hell out of me. I am considering a new job that will not be an increase in pay but does have the option to salary sacrifice.

I understand the concept of salary sacrifice i.e. my employer pays for a few things for me pre-tax to reduce my taxable income which increases the total money in my own pocket. This would totally be worth it but i have seen that doing this with a HECS debt means that I'd owe more than i am currently paying and this may negate any benefits of salary sacrificing.

I know paying the debt off quicker is a good thing but my situation right now doesn't allow for this to be a priority. Is there an easy way to work this out so i have a better idea before i decide on this job? Happy to provide more details if needed :) thanks in advance.

Please read this post with the context in mind: people from marginalised groups in society want professional services from people that they feel understands and respects their experience, and to whom they can relate.

I’m in need of a financial adviser/planner/accountant/whatever the job title is supposed to be. I won’t be posting highly specific information about my situation but I would like to make smart financial decisions that will benefit me personally but which are also socially conscious and ethical.

I am an LGBTQIA+, neurodivergent young woman and am in need of a professional who will treat me with respect and work with me to find a solution that is right for me and my goals, rather than a specific and prescribed investment strategy they recommend to many different clients.

This would be an ongoing professional relationship not a one-off meeting so finding someone I am comfortable talking to and who can understand my methods for communication is vitally important. It’s not essential that the professional is neurodivergent or queer themselves, but they must be compassionate and respectful.

So, in saying all of that, how does one go about finding the RIGHT person to talk to? Simply googling and clicking links doesn’t give enough information to know WHO the person is and whether we would have a good working relationship.

Is there anyone on this sub who understands what I’m asking for and can make any meaningful suggestions?

Please don’t bother commenting if it’ll be disrespectful or political. This is a genuine post and I’m not here to debate the legitimacy of anything I’ve written here. I know who I am and what I need I just need some help finding the right person.

Thanks for your understanding.

I recently got married so my surname has changed. I went out for dinner last night and paid for my friend who will transfer me. They have transferred me before so I didn’t tell them my account details but I’ve woken up now and realised that my name has changed on my account and they would have still had my maiden name. Will the payment still go through?

Financial Free-Talk

-=-=-=-=-

Welcome to the /r/AusFinance weekly "Financial Free-Talk" Mega Thread!

This is the thread where members should bring their general Aus Finance questions.

Click here to see previous weekly threads: https://www.reddit.com/r/AusFinance/search/?q=%22weekly%20financial%20free%20talk%22&restrict_sr=1&sort=new

What happens here?

The goal is to have a safe space for some of the most common posts, while supporting more original and interesting content in their own posts. Single posts with commonly asked questions may be removed and directed to this thread.

AusFinance is designed to help people of all abilities, at all stages in your financial journey. We want to democratise personal financial knowledge.

The collective experience of the AusFinance community is one of the most powerful ways to help Aussies improve their financial abilities. Whether you are just starting out, or already have advanced knowledge, there's always something new to learn.

Let us know what you need help with!

• What to look for in an apartment/house/land
• How to get a mortgage/offset/savings account
• Saving/Investing for kids
• Stock Broker questions
• Interest rates: Fixed/Variable
• or whatever!

Reminder: The Sub rules are still in effect

Please note rules 5 & 6 especially:

• Rule 5: No personal or legal advice.
• Rule 6: No politicising.

Thank you for being part of the AusFinance community!

-=-=-=-=-

Haven't been able to find one. Ubank's interest rate was attractive, but trying to understand where I can withdraw cash without a charge to do so.

Does anyone know of a list or map to find where my closest free atm is?

Going through an elderly family members belongings and a number of old stocks and company bonds have been located within their mountain of paperwork.

The shares are listed as being sold in the 80’s with companies such as Fairchild Industries, Australian Goat Breeders and Coles Myer LTD.

How can we find out if these stocks/bonds are still valid. Is there anyone specific we can speak to eg. Financial planner that may be able to find out?

Or will we be required to find the old company and speak to them directly?

Any help is appreciated

Hey all - the last few years I've been heavily putting my hard earned dollars into getting a house deposit sum together. Unfortunately with the market spike we've seen, as a first home buyer, I've been constantly behind the eight ball trying to catch up to my deposit target and missed a lot of investment opportunities elsewhere that's performed well above just leaving it in a high savings account.

Now with a large lump on money, and in the lookout for something in the next two to three years - is it worthwhile using that money for gains in other areas whilst you save?

Keen to hear what the community has done whilst house deposit saving.

Anything else I should add?

Hello,

I’m 39 and just moved to Australia last year. I want to invest $70k in the stock market again as I sold all my shares in Canada before I left. I was planning on investing for a minimum of at least 25-30 years and plan on contributing more in the future. I have come up with the following below. Anything else I can add for diversification and better growth? I already have other investments in digital assets and precious metals that have done well so far.

Cheers.

VAP- $10K OZR- $10K A200-$10K EX20-$10K VHY- $10K BGBL-$20K

Hi all, I’ve been mulling over a situation for the past year and am honestly looking for any advice from outside the family.

My father lived with my grandpa in my grandpa’s house up until the end of this year. My grandpa has passed away, and his house is now in the process of being sold. Proceeds will be split between my dad, his siblings and my aunty, as per my grandad’s will.

When that house is sold, my father will need a place to live. It’s estimated he’ll get around $400k from the sale of the house.

For additional context, my dad is coming up to being in his late 60s, has not worked for many many years, and has no other money for retirement at all. This 400k would essentially be his funds to live on + any government assistance he would get via aged pension.

He is pretty set on the idea of him gifting me around 300k of this, and I buy a house and we live together. Others in my family seems on board with this idea, but I see red flags, which I will list below:

1. If my father needs aged care in the next 10+ years, I would need to sell the home and I will be left with no home.

2. I make approx 100k, therefore any home that would be large enough to house my dad and I + maintain privacy would take up most of my income, therefore I would not have much opportunity to save. I don’t believe combined we would be able to get a house with a granny flat.

3. In terms of my own life, if I wanted to start a family, I don’t see how I could get another home, and I don’t see how I could start a family in this home.

4. I would have to pay for any home maintenance/large expenses. He would not be able to because he is not making an income.

5. On a more selfish level, I am only 25 and I have not had the opportunity to live on my own. Family are saying this is a great opportunity to get into the housing market. I feel like they are not being considerate of all the factors though? I am doing well in my career and don’t want to close the door to relocation opportunities, for example.

6. My dad is currently staying temporarily with my mum, and she is hinting that he doesn’t cook for himself / asks her to do a lot for him. I foresee that being my responsibility if I do this.

The other option I have in my head, is that he buys an apartment and pays it off in full. I believe this would be preferable, because, his money would be accessible in the case he needs aged care at any point, and he would own a primary residence which wouldn’t affect his aged pension when he does start receiving that.

Am I missing something in my assumption that an apartment would be a better idea? I honestly can’t tell if I am being naive, and if getting a home would be a better option. I know apartments have strata to consider, I’m very much happy to aid my dad in additional costs, but I feel like joint ownership is a much bigger responsibility than my family are imagining it to be. I feel like my income would be tied up in ensuring my dad has somewhere to live, at the young age of 25 😭

Does anyone have any other suggestions? I have also looked briefly at over 55 communities as an option. But I do feel like him buying an apartment and having it paid off in full is the best way, unless I’m missing something?

Would it be wise for me to reach out to a financial advisor of some sort to discuss this? I’m very out of my depth here! I don’t want my dad to be homeless / somewhere dangerous, but don’t want to sacrifice my life! Or am I being naive and this is actually a good opportunity to get into the housing market?

Thank you in advance for any advice. Happy to answer any further questions too.

What are the important things to consider when changing investment options from AustralianSuper 'Balanced' (active, 0.57% fees, 70/30 growth/defensive) to 'Indexed Diversified' (passive, 0.08% fees, 70/30 growth/defensive). This is in the context of a sizeable super balance (>$1M) and close to retirement. The main things I want to check is whether switching would (1) trigger a CGT event which creates tax disadvantages, or (2) negatively impact on the Balance Booster feature which might outweigh the benefits of reduced fees. Not interested in DIY or SMSF for now.