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Before you get too incensed: you should compare the actual (or average) tax rate for individuals to the actual tax rate for companies. Most people pay less than 30% tax (including Medicare Levy) on their total income. It is only once you get to about $180,000 and more where the tax (plus...

@deji4christ Don't forget: there is no tax free threshold for company tax. Companies pay 30% on every $ of taxable income

@sweettia4christ Not everyone is as fortunate as you to be able to avoid bank fees. (So, perhaps not as wrong as it seems inside your bubble.)

@sweettia4christ That is a bit complicated (and potentially incurs unnecessary bank fees) - spreadsheets cost nothing and do the same thing.

@pinkyrock Good on you. Some people do.

@romasliv Australians have vested interests in protecting their savings held by banks lol! The return is higher with companies like moomoo because the risk of losing your money is higher

@pinkyrock Still doesn't require physically separate accounts - a spreadsheet can manage the buckets just as well (and fewer fees)

@romasliv If you invest in multiple companies, then your investment is less risky than when you invest it in one company as it is unlikely that multiple companies would all fail at the same time.

@pinkyrock Why would you need more than 1?

@romasliv Not by the Government's Financial Claims Scheme (which would only cover $250,000 of moomoo's funds in the event that CBA or HSBC collapsed - not moomoo.) Also, moomoo's customers do not know the nature of the trust that owns the CBA and HSBC accounts - the trust may not prevent any...

@romasliv No other scheme has the backing of any Australian government All companies in Australia are regulated by ASIC - doesn't stop them from collapsing every day (because that is not ASIC's job)

@ponispop Tax + Medicare Levy on $60k salary with no other deductions or offsets = $11,167. You will have to pay $367 to ATO - no refund.

@jaetii I'm not denying you can get higher rates with moomoo than with a bank. As I said, moomoo is a higher risk investment. If moomoo goes belly-up, your savings are gone. If an Australian bank goes belly-up (highly unlikely), your savings (up to $250k) are guaranteed by the federal government.

@jaetii Deposits with moomoo are not protected by the Government's Financial Claims Scheme In finance, the higher the interest rate, the higher the risk.

@coffee777 Go to the government comparison website https://www.energymadeeasy.gov.au/ for a comparison of all suppliers

@fruwdjsb91 Overnight charge/public transport

@faithfilms09 What about having to pay tax (BAS?) and super? Don't you have to do these tasks your self?

@ryanbobyan OK, you are correct, you don't have to do the building but you should really know how to build one. In NSW, if the building works is valued over $20,000, and the owner/builder is not and never has held general building or contractor or building supervisor qualifications, the...

@uponaway "Owner/builder" is you, as owner, doing the building - it is not an option unless you know how to build a house.