Pot of gold...

... at Westpac** ?

** This is not a recommendation to buy or invest in Westpac.

Wednesday Ambition?

Sometime ago I blogged about some desirable occupations. Jobs that are always in demand, jobs that will help you find a partner (chick or guy magnet).

I want to be a TAXI DRIVER!
You heard me, I want to drive cabs in Sydney (albeit a water version) :)

Wordless Wednesday...

PS: Google deleted the photo! Why? Dunno?
PPS: 2nd attempt with the photo, lets see what happens

AAA does it matter?

We read all about how important credit ratings are. How the downgrade of the US credit rating by Standard and Poors to AA+ will increase the cost of US borrowing. Absoute bullsh*t!

USA lost it's AAA after the close of business on 5 August. We would expect the yields on government bonds to jump (USA is now a more risky asset) when the market opens on Monday 8 August.

Source: US Department of the Treasury

Didn't happen. Yields continued down only moving back to what it was pre-downgrade in the last two days. So what happened?

• There's disagreement within the ranks. Moodys and Fitch did not lower the US rating.
• There's nothing else in the world to buy.
• China's not selling it's portfolio anytime soon.

Foreign Exchange????

It's a mugs game. At a previous employer, the maxim was, if a dealer got it right 51% of the time, he (or she's) great and deserves a fat bonus.

USA's credit rating downgraded yet investors are buying US$ and treasuries and selling the A$. Australia still has a AAA credit rating, employment under 5%, government debt low. Doesn't make a lot of sense...



Chris Zappone gives three reasons why the A$ is falling against the US$.

Tax Time

Are people lazy?

I can't imagine paying $50 to someone for doing my tax return. Especially all I do is earn a wage. With e-tax, the system even downloads the salary information provided by my employer and the miserly interest earned on my petty bank balance.

So if all you do is earn a wage, maybe some interest or even dividends, go do your own tax return and spend the $50 on a new pair of shoes at Myers (last minute clearance, additional 50% off already reduced prices. I'm eying that pair of Puma leathers!).

Couple of pointers:

1. Download e-tax from the ATO site.
2. For work related deductions, claim UP TO $300. You do not need to to substantiate them (i.e. prove that they are kosher deductions. Claiming $297.60 is good).
3. For other deductions, make sure you have a receipt for them.
4. READ and consider every question in e-tax.
5. You may get some offsets especially if you've spent big on medical, have a dependent to support, paid the kids education (primary & secondary only) expenses.

Affirmative Action

Most countries have a positive discrimination program to assist the disadvantaged. Malaysia is no different, to encourage home ownership by the local populace, these lucky people get a 7% discount on their mortgage.

Nice.... need that discount to buy in Sydney!