From 2ba2ece1d09701ab41d03fd42f9b134ad53ebd0d Mon Sep 17 00:00:00 2001 From: Damien De Paoli Date: Fri, 6 Feb 2026 12:12:06 +1100 Subject: [PATCH] tried to be smarter with tax, decided in the end to use non-code to come up with a figure and hard-code, hopefully not an issue soon anyway :) --- calc.py | 23 +++++++++++++---------- 1 file changed, 13 insertions(+), 10 deletions(-) diff --git a/calc.py b/calc.py index 6c67f4c..e6d303c 100644 --- a/calc.py +++ b/calc.py @@ -66,7 +66,7 @@ def calculate_savings_depletion(finance, bill_data, bill_type): CBA_price = finance['CBA_price'] Ioniq6_future = finance['Ioniq6_future'] - ### COMPLEX tax implications with my leave I have not taken. It will be taxed in the year I 'quit' ### + ### COMPLEX tax implications with my leave I have not taken. It will be taxed in the financial year I 'quit' ### # leave in days, 10 business days to a fortnight, # paid before tax I earn $7830.42 / fortnight. Tax on that will be at 37% or $4933.16 after tax @@ -76,27 +76,30 @@ def calculate_savings_depletion(finance, bill_data, bill_type): # this is what I now earn before-tax (and I *THINK* vehicle allowance won't be paid X 12 weeks) pre_tax_D_earning = 8143.65 - # whenever I leave, I get 12 weeks (or 60 business days) + whatever leave they owe me - payout = ((60+D_leave_owed_in_days)/bus_days_in_fortnight) * pre_tax_D_earning + # whenever I quit, I get my leave paid out and I get 12 weeks (or 6 pays) -- notice + payout = ((D_leave_owed_in_days/bus_days_in_fortnight) + 6) * pre_tax_D_earning # just use redundancy calc... - payout = 83115.84 +# payout = 83115.84 print( f"leave payout gross={payout}" ) # However, if I quit in the next fin year - tax will be: $4,288 plus 30c for each $1 over $45,000 - # (assuming the 7830.42 * ~90/bus_days_in_fortnight = ~ $64k - > 45k and < $135k bracket is 30%) + # (assuming the 7830.42 * ~90/bus_days_in_fortnight = ~ $64k - > 45k and < $135k bracket is 30% OR .37c for $135->$190k) + # - IF I am close to $190k+, just wait a month and quit in new financial year # Given, I probably can't stop Deakin doing PAYG deductions, I won't get # the tax back until the end of the financial year, so work out the - # amount of tax I will get back info: tax_diff_D_leave - tax_on_leave = (payout - 45000)*.37 + 4288 + # amount of tax I will get back into: tax_diff_D_leave + tax_on_leave = (payout - 45000)*.30 + 4288 D_leave_after_tax = payout - tax_on_leave - # just use redunancy calc... - D_leave_after_tax = 56518.77 + print(f"my calc would say D_leave_after_tax = {D_leave_after_tax}" ) + + # just use quick google/calc - it claims tax rules apply and are capped at 32% - its possible I get more like 75k then pay tax in July? + D_leave_after_tax = 59000 tax_diff_D_leave = payout - D_leave_after_tax - ### FIXME: for now, assume no tax back after leave - think this may be needed if I quit anytime nowish until end of Jun + ### FIXME: for now, assume no tax back after leave - see above comment tax_diff_D_leave = 0 print( f"tax_diff_D_leave: {tax_diff_D_leave}")