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252 DCA vs lump sum investing, careers outside of clinical work, ATO payment plans + more
Dev Raga Personal Finance
How Does the ATO Payment Plan Calculator Work?
Amy owes 50,000 dollars in taxes. She decided to contact the ATO about organizing a payment plan. Amy can pay back fortnightly, monthly or weekly depending on the plan. The money is set out in a separate account which she wouldn't touch. It's sitting there, it's offset against her non-deductible debt. So technically, I'm using the government's money to get some guaranteed returns on my money. Now, supposing my tax liability is 40%, then I would have easily saved a cool 10% on top of that. so it's a very conservative or aggressive way of saving money.
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