Getting into Bed with Random Weirdos

Hi Barefoot,

I earn $180k and have paid off my $600k home. I recently had a cold call from an investment group saying they can use the ‘income tax withholding variation’ to effectively negative-gear a property they were trying to sell us. The property is not going to be built for two years. Does this sound like a wise investment strategy?

Gerald

Hi Gerald,

The ‘income tax withholding variation’ can be downloaded from the Tax Office website. It’s not technical. Basically, all it means is that you can ask your employer to withhold less tax each payday, rather than having to wait till the end of the year for your refund.

Dude, the bottom line is that they’re really selling you a tax turkey. If you’re earning $180k you must have brains. So why are you contemplating buying a non-existent investment from random weirdos who cold call you?

Scott