Adam Breguet

25 | Tax Accountant | Queer 🌈

[Adam Breguet @AdamBreguet]

1/ Ok, so I'm getting a little sick of the #FrankingCredits debate. I'm a tax accountant and I deal with franking credits all the time, so here's a few numbers: #auspol

[Adam Breguet @AdamBreguet]

@ArkasPenandKey @RealJohnRose Lol what are you talking about. They never complained about ad blockers, they just said if you use them you should acknowledge that you're stopping the sites you use them on from getting that ad revenue. Which is the reality (I say that as an ad blocker user)

[Adam Breguet @AdamBreguet]

@David_McMahon75 Tax accountant here, this is not the case. Short term sales of CGT assets are still treated as capital (regardless of leverage). For it to be treated as income you'd need to be doing it in a business like manner, not an easy bar to pass

[Adam Breguet @AdamBreguet]

@FToast60 @jdh00001 One improvement though would be fixed 3 year terms rather than the silly games we play every 3 years about when they'll announce an election

[Adam Breguet @AdamBreguet]

@tresantes @hamhammer27 Surely this is a bit?? Australia, famously full of churchgoers and non-sports watchers...

[Adam Breguet @AdamBreguet]

@hamhammer27 Lmao
Imagine if it happened. Albo continues to slide in the polls and they make Dan PM. They'd actually lose their minds.
Not going to happen, but very funny to think about

[Sera Koulabdara @SeraKoulabdara]

YES

[Adam Breguet @AdamBreguet]

@maximum_chips The system seems nuts, I hear so many bad stories (my bf included which took so long), but I recently got a referral, got an appointment about a month later, and got a diagnosis and prescription in the first appointment

[Adam Breguet @AdamBreguet]

@hamhammer27 Seriously, is there a worse "news"paper in Australia? Courier Mail gotta be a close second

[Adam Breguet @AdamBreguet]

@nicknak_morris @hamhammer27 And seemingly at least one a month too

[Toilet Paper Australia @toiletpaperaus1]

Neil Mitchell: “Dan, you need to cancel the games”

Dan: “ok”

Neil Mitchell: wait no

[Adam Breguet @AdamBreguet]

@VeraBurd97 Bruh

[Adam Breguet @AdamBreguet]

@DavidSligar Policy makers (maybe inadvertently) encouraged this - anyone with a business was able to pretty much take a full upfront tax write off over the last few years due to the unlimited instant asset write off threshold introduced during COVID

[Purplepingers ☭ @purplepingers]

It’s pretty clear that the measures to reduce inflation aren’t affecting those responsible for inflation.

[Adam Breguet @AdamBreguet]

@hamhammer27 Mfw no one complains about unions so we have to try and cover that up

[Adam Breguet @AdamBreguet]

@alpsa @aeusa @PMalinauskasMP

[Adam Breguet @AdamBreguet]

@julianoshea Great article! The only thing I would have added is how the tax system has in recent years also incentivised the purchase of these. The unlimited IAWO allowed many people with businesses to just immediately take a tax write off for these Utes

[Adam Breguet @AdamBreguet]

@michael_timbs @sp_a_n_i_e__l_ @hamhammer27 Please anyone who reads this do not follow this advice, it is terrible. The ATO will harass you until you lodge, and you potentially will face fines or default assessments which are very hard to get around.

[Adam Breguet @AdamBreguet]

@michael_timbs @sp_a_n_i_e__l_ @hamhammer27 This is not true. If you still have a HELP balance when you lodge your tax return and your repayment income is above the threshold you will still have a compulsory repayment, even if you've made a voluntary repayment.

[Adam Breguet @AdamBreguet]

@TomisCrowley Picking 0.15 only because I want the rate to go back to a quarter %