Author Topic: Expensive lessons  (Read 560 times)

Nnking

  • 5 O'Clock Shadow
  • *
  • Posts: 2
Expensive lessons
« on: October 16, 2017, 02:45:23 PM »
Hi,

I had bought an insurance in 2016 but it looks like it was a wrong buy. I paid for $980 for extras only insurance this year, it was not private hospital cover and no one when buying guided me to this.

This "not knowing" has costed me $2980 this year.

$980 (insurance premium which I have paid ) + around 2000 medicare surcharge (which I am suppose to pay now after lodging return)

Quite an expensive lesson, which was your expensive lesson?

I really wish buying health cover would have been super clear and easy, I paid anyways, would have bought right health cover.

Layla

  • Stubble
  • **
  • Posts: 192
Re: Expensive lessons
« Reply #1 on: October 16, 2017, 10:05:33 PM »
On the bright side, if you qualify to pay the medicare levy surcharge then you have a massive income! I have made heaps of these types of mistakes over the years. But only once each! Each tax return teaches me something.

middo

  • 5 O'Clock Shadow
  • *
  • Posts: 53
  • Location: Country Western Australia
  • Learning.
Re: Expensive lessons
« Reply #2 on: October 16, 2017, 10:21:48 PM »
We also take out private health cover because of our joint income.  I dont know if we will keep it when we retire.  Many dollars and still so many expenses.

My big mistake was to buy a block of land in a regional town near the coast, with a plan to build a holiday home and rental property. In 2004 we paid $125 000. We are looking at selling it. Valuation today is $120 000 to $140 000. So 13 years of no cgange. What a waste of possible growth.

Nnking

  • 5 O'Clock Shadow
  • *
  • Posts: 2
Re: Expensive lessons
« Reply #3 on: October 17, 2017, 12:08:25 AM »
Each tax return teaches me something.
Each tax return teaches me something.

yes. I guess so.

My big mistake was to buy a block of land in a regional town near the coast, with a plan to build a holiday home and rental property. In 2004 we paid $125 000. We are looking at selling it. Valuation today is $120 000 to $140 000. So 13 years of no cgange. What a waste of possible growth.

I see, 13 year is long time!
and you never built holiday home or rental on it?

middo

  • 5 O'Clock Shadow
  • *
  • Posts: 53
  • Location: Country Western Australia
  • Learning.
Re: Expensive lessons
« Reply #4 on: October 17, 2017, 04:27:20 AM »
No, never got around to it. Had an architect friend draw up some ideas for a reasonable fee, but life kept getting in the way.

marty998

  • Magnum Stache
  • ******
  • Posts: 4935
  • Location: Sydney, Oz
Re: Expensive lessons
« Reply #5 on: October 18, 2017, 02:23:42 AM »
$980 is quite high for extras only - did you buy the very top level cover for extras???

I pay about $1100 all up for hospital and basic extras.