[SDC_Bot]

Daily Newsletter 18.01.2023​

Happy Wednesday members! How are you all doing today?

Here's link to today's newsletter in case you haven't received it via email.

Happy reading!

 

[Maud's]

Daily Newsletter 18.01.2023​

Happy Wednesday members! How are you all doing today?

Here's link to today's newsletter in case you haven't received it via email.

Happy reading!

Regarding the 'Free Money' article today (18/1/23), it fails to mention despite good interest rate returns each month, regardless of whether a person is in receipt of an Age/DVA pension the interest earned still needs to be declared in tax returns. So, my $320 earned in December '22 in my AMP High Earner Account effectively is reduced by $60.80 in the long term! I wish there was a way to avoid this! We have been penalised in Australia for too long for trying to save/invest money.

 

[Jonathan Leane]

Good point @Maud's - we will amend the original article with your comment. Thanks!

 

[Maddison Dwyer]

Regarding the 'Free Money' article today (18/1/23), it fails to mention despite good interest rate returns each month, regardless of whether a person is in receipt of an Age/DVA pension the interest earned still needs to be declared in tax returns. So, my $320 earned in December '22 in my AMP High Earner Account effectively is reduced by $60.80 in the long term! I wish there was a way to avoid this! We have been penalised in Australia for too long for trying to save/invest money.

Wow great point @Maud's I had absolutely no idea! I have just amended the article to include this information. I hope you don't mind, but I used you as an example of how much tax had to be paid on this interest just so our members could better understand what we are saying. You can find it here - https://seniorsdiscountclub.com.au/...ia-amid-rising-cost-of-living-expenses.16996/

Thank you so much for sharing this with us, so we could share it with the rest of our members!