Remove this Banner Ad

The off topic thread #2

  • Thread starter Thread starter Jatz
  • Start date Start date
  • Tagged users Tagged users None

🥰 Love BigFooty? Join now for free.

Status
Not open for further replies.
There will only be flights into John Lennon international. No flights out
"John Lennon" that's embarrassing naming your airport after a pop star. I love the Beatles but come on. Plus the bloke had a very dubious character
 

Log in to remove this Banner Ad

Question for the accountants jd2010 & SM on here:

Turns out both myself and my brother are going to receive a life insurance payout from my auntie in France. Will the ATO treat that as taxable income in Australia? If it gets added to my taxable income it's gonna play havoc with my Family Tax benefit & Childcare Rebate from Centrelink.

From what I can understand they only tax life insurance payouts if there has been a tax deduction claimed for the policy premiums but obviously that's not the case with my aunt having lived in France her whole life. I see they treat payouts different depending on whether it is for a dependent or non dependent beneficiary.

Worse comes to worse both myself and my brother will travel to France and setup a french bank account to deposit the life insurance. Can't imagine the ATO will find out about it.
 
Question for the accountants jd2010 & SM on here:

Turns out both myself and my brother are going to receive a life insurance payout from my auntie in France. Will the ATO treat that as taxable income in Australia? If it gets added to my taxable income it's gonna play havoc with my Family Tax benefit & Childcare Rebate from Centrelink.

From what I can understand they only tax life insurance payouts if there has been a tax deduction claimed for the policy premiums but obviously that's not the case with my aunt having lived in France her whole life. I see they treat payouts different depending on whether it is for a dependent or non dependent beneficiary.

Worse comes to worse both myself and my brother will travel to France and setup a french bank account to deposit the life insurance. Can't imagine the ATO will find out about it.

Jd might know better than me but I think that would be considered a windfall gain which isn't assessable.

It'd be like me backing Leicester to win the league and winning 100k, it's not assessable.
 
Jd might know better than me but I think that would be considered a windfall gain which isn't assessable.

It'd be like me backing Leicester to win the league and winning 100k, it's not assessable.

Life insurance payouts are definitely not taxable in France, that much I do know. It is not considered part of an inheritance / estate under French law.
 
Life insurance payouts are definitely not taxable in France, that much I do know. It is not considered part of an inheritance / estate under French law.

That's the only thing I'm unsure of. As long as it's treated as inheritance here you should be ok, but Jd might know better than me, I'm not great on that part of tax law.
 
That's the only thing I'm unsure of. As long as it's treated as inheritance here you should be ok, but Jd might know better than me, I'm not great on that part of tax law.

Life insurance payout & inheritance is treated separately in France. There is inheritance tax payable on my aunite's estate but that is separate to the life insurance payout.
 

Remove this Banner Ad

🥰 Love BigFooty? Join now for free.

That was really great and interesting. I also knew which actors came up whether he would like it and rate it or he wouldnt. I knew DDL, Heath and PSH would be perfect and I knew Leo would go well too.
Yeah I wouldn't mind a far more in depth analysis as well. I agree with you though, you could tell who he would pick as having good accents. A very interesting profession too!

I find accents really interesting especially as I'm always trying to perfect mine!
 
Yeah I wouldn't mind a far more in depth analysis as well. I agree with you though, you could tell who he would pick as having good accents. A very interesting profession too!

I find accents really interesting especially as I'm always trying to perfect mine!
Yeah i hope he makes more movies. It was interesting with the way he said some actors would open their mouth too much but that comes from theatre backgrounds. Even the great Cate Blancett who i think is pound for pound the best actress in hollywood got called on it.

You know the method guys nail it like Leo, DDL and PSH. Heath too who was going to be an all time great. That still saddens me now.
 
Status
Not open for further replies.

Remove this Banner Ad

Remove this Banner Ad

🥰 Love BigFooty? Join now for free.

Back
Top Bottom