Investment advice

Some allow it, but the card operator will likely call it a cash advance AND the trading platform will also likely charge you more. So you’re starting well behind.

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Yep, essentially there’s nothing stopping you from turning a CC purchase into cash (Though it won’t always be easy to get full 1:1 value), and then locking the debt into a balance transfer (Outside of the possible Credit Score hit/lower borrowing/etc).
Once you factor in the interest you’d pay (depending on tax bracket) you’d still come out slightly ahead.

As with anything there are risks involved. Say you lock it into a term deposit, then lose your job/etc and can’t get approved for another BT once that one expires? You’re left either paying the full interest, or breaking your term deposit and paying all the fees associated there.

Thats not a problem for me.

Its only going to be a 10-20k investment on a credit card.
(Ive never enquired about higher limits).

Im just thinking about having more money working for me thats effectively someone elses.

Maybe I have misunderstood, but you cannot buy shares with a credit card, no legitimate broker would do this. I suspect if anyone approached on this basis then it is a scam.

That said there is no reason you couldn’t get a cash advance to max out your first card and then transfer the balance on to the new card. I looked at it once and you need to read the fine print, as nothing is for free or no risk.

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Also i am in need of some advice before I pay an accountant.

If my other half has offered me a gift of some money to store in my offset account(source of funds totally fine) and at some point I will give back.

Is there a way to receive that but not as taxable income?

Idea is to lower the net interest bill on a loan. The account is not in joint names.

A gift from a wife or partner is not taxable income.

We transfer monies like this all the time to maximise interest on advise from our Accountant.

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Gifts in general are not taxable.

The main concern with (substantial, genuine) gifts is if you are on the old-age pension (or will be in the next five years).

Now I wonder if it is net or gross gifts, if money is flowing in both directions at various times.


I love your advice @theDJR

So thorough.

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My comments should be taken to include an engineer’s fudge factor.

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So accurate to within 10%.

And never exceeding 66% of yield.*

*although @theDJR no doubt prefers LRFD.