Tactical Tax Strategies for ADF Members in 2025

Video Transcript

Jace: You want to make sure you claim every deduction you’re entitled to, but you don’t just want to spend money to get a tax back because you don’t get all the money back. People are like, I spent 10 grand, I’ll get 10 grand back. No.

Robbie: Hey, Jace, coming up to the end of financial year 2025. Let’s start talking about tax. On the talk.

Jace: Bloody oath, mate.

Robbie: I know we’ve done a number of masterclasses. We’ve done some live Q&As with you. But let’s just have a bit more of a casual chat. I suppose one of the things that really ring true to me, though, is that an investment property or an income reducing asset, like a business or an investment, you know, you got to have the rent or the revenue that comes into the business, but also the tax implications. So to really make sure that we’re sort of pulling those levers properly. So I heard you speak before that some people wait until like nine, 10 months after the financial year, they still haven’t done their tax return. And you’re like, mate, you owe 10 grand. What are you waiting for? So let’s definitely dive into that a bit.

Jace: Well, yeah, look, mate, we’ve got enough of your clients. Now we’ve got probably 400 plus excellent clients, which is great.

Robbie: You’re welcome.

Jace: Very, very grateful. And they keep us busy. They keep us sleepless nights from about mid-July till mid-October.

Robbie: Okay. So they’re the ones that are like, I know I’ve got 10 grand coming my way, let’s go.

Jace: Yeah. So about half of them. So we’ll send out our checklist in the next couple of weeks saying, hey guys, tax time is just around the corner. Here’s what the ATO is going to, you know, put pressure on this year.

Robbie: Can we talk about in a minute what some of the things that ATO are clamping down on? Because that’s like a bit of a moving target year on year.

Jace: Always is, yeah. But yeah, about half of your clients will be like, first in, let’s go, money back to me. Thank you very much.

Robbie: And you love that, I bet.

Jace: I do. Yeah. Because we call them all and tell them, you know, hey, you got this much going back, you know, it’s pretty cool. And I always say, I’m like, you know, you’ve got 12,000 coming back. Our fee’s only 10 grand. So you get $2,000 and then have a laugh. But anyway.

Robbie: His fee’s not 10 grand, by the way.

Jace: Yeah. That was a joke.

Robbie: Jesus, even I had a bit of a double take.

Jace: But then the other half, right? They’ll filter from, you know, November till May. And you get the guys that really struggled at the end of the year. And I’ll give them a call. And I’m like, Bob, mate, you got a refund of $12,000 that took you to May. What the hell is going on?

Robbie: Yeah.

Jace: You could have had this money in your bank account a long time ago. You could have had it in your bank account. You could have had it in an offset account. You could have had it invested somewhere else. So, you know, that’s the, I guess, the lay of the land. And it’s been every year, mate. So we’re not going to change that. We can’t do anything about it. But a lot of guys get in first in and then, but I don’t know if we could handle them all at once, actually. So it’s not a bad thing.

Robbie: You know, we are six weeks away from tax time. Expect the checklist to come to you from Jace. Get your ass into gear. I have been guilty of it over the years. That I was like, oh, it’s a bit of admin shit. I’ve got to go through emails. I’ve got to like find the statements, got to send it across. And I’ll put it off, put it off, put it off. And then when I actually get to do it, it took me a 10th of the time I thought it was going to do. And it gets me 10 grand back. Pretty good, like right, dollar per hour.

Jace: The thing is, right. So, you know, you’re going to have a rental property. So you’re going to have a loan. So you’ve got the bank account. So that’s not hard to go and get the interest because you log into your bank account, download the statement. You’re going to have an agent that looks after it. So if you can’t find the rental statement, you know, the annual statement. Just ping them. Yeah, give them a call. And then you’re going to have insurance. It’s the same thing every year. So it’s not that hard to put all that information together. And I guess while we’re talking about that, if we are considering the year ahead, the year gone too late, but the year ahead, if you have an expense, whatever it is that you know is going to be deductible, put it away in a file, save it on your computer, do something with it. So when it does come tax time next year, it’s an easy process to grab it, put it in, and we can get onto it.

Robbie: So many of our clients, as you know, have got awesome money mindset, money habits about having that sort of compartmentalisation buckets of money sort of thing. Put a little bucket of filing stuff in there just to make it easy.

Jace: Having said all that though, your clients are like the gold standard for providing information. And if we have a query, if we need something, they’ll get it back to us like within the day. So I assume it’s the military mindset, you know, driven by direction and that sort of thing. But it is a pleasure to know that any queries we’ve got for you or your clients are going to come back to us instantaneously. Yeah, go.

Robbie: Can we talk timeframe for a second? Because my, this is like the ATO stuff, as an individual, you’ve got until like the 31st of October to get your tax done. But what’s the date if you use a proper registered agent?

Jace: Sure. So if you do your own tax return, you’ve got to the 31st of October. So you’ll see on the radio, here on the radio, you know, tax returns due. If you use a tax agent, if you come through me, it’s the 15th of May. Now you can use that to your advantage because let’s say you sell your investment property and you make significant gain, and you’re used to doing your tax return in July and getting a refund, you can push all the way back to May to have as much money as you can in your bank account until you have to pay the ATO that 20 or 30 or 80 grand.

Robbie: So if you’ve got a debt and a capital gains tax debt that you need to pay the ATO, we can be smart about the lodgement of your return. And push it as far back as possible. Yeah, right.

Jace: And then keep that money in your bank account. It doesn’t save a huge amount of time, but it’s, you know, you’re going to get a bit of extra money in your bank account.

Robbie: Yeah, okay. Yeah, that’s good.

Jace: 15th of May is the lodgement. So we’ve just passed that for this year. And luckily, you know, as a tax agent, we’ve got criteria to meet and we’ve met those criteria. So any of our stragglers, we’ve been able to get an extension on and push it out to a few more weeks.

Robbie: Yeah. One of the misconceptions I see out there is that people are like, all right, cool. I paid two and a half grand on my rates per year. That means I’m going to get two and a half grand back on my tax. Just talking about the marginal tax rate and like how tax returns non-cash, sorry, cash deductions and non-cash on the depreciation report actually work.

Jace: Okay. So this is, for me, this is bread and butter. Okay. But for everybody else, it’s not. So let me give you the tax rates. So if you earn under $18,200, you don’t pay any tax. $18,200 to $45,000, $18,200 to $45,000, you pay 16 cents. $45,000 to $135,000, you pay 30 cents. $135,000 to $190,000, you pay 37. And $190,000 and above, you pay 45 cents.

Robbie: So it used to be $180,000, now it’s $190,000. That’s gone up to $190,000.

Jace: Another change. All right.

Robbie: Now- I wish I could say good to know.

Jace: So a few things in and around that. If you’re military, you don’t pay Medicare levy. If you’re non-military, you add extra 2% on top of all that for Medicare levy. Now, let’s say you earn a hundred grand. Okay. And your employer withholds the appropriate amount of money. You’re going to pay $22,000 give or take in tax. Now, you don’t really want to get a big tax refund during the year, at the end of the year, sorry, if you’ve got no deductions, because it means that your employer withheld too much tax and you didn’t have that money in your bank account during the year. Now, here’s the thing back to your point. Let’s say you earn a hundred grand, $22,000 is withheld. And you get to the end of the year and you’ve got a deduction. You went on a course and it cost you $10,000. So you’ve got a $10,000 deduction. People, this time of the year, we’re talking about end of financial year. We’re talking about tax planning. You don’t want to just spend money to get a tax deduction because you only get back the tax rate that you pay. Okay. So if you earned that $100,000 and you paid 5,000, call it 10,000, it’s an Australian number. You spent 10,000 on a course. When we do your tax, you’re going to get $3,000 back because you’re in that 30% bracket. So it still cost you $7,000.

Robbie: Okay. So spending a dollar to get 30 cents back effectively.

Jace: Correct. Yeah. So you want to make sure you’re going to get value out of what you spend. All right. You want to make sure you claim every deduction you’re entitled to, but you don’t just want to spend money to get a tax back because you don’t get all the money back. People are like, I spent 10 grand, I’ll get 10 grand back. No, you still have to pay the opposite rate. So 30% is a tax rate. You still got to pay the 70%. So it still cost you $7,000.

Robbie: As a defence member, do you actually know what it is you can claim come tax time?

Jace: We’ve helped hundreds of defence members with their tax. That’s why together with Axon, we’ve created a checklist to help you to put together the information you need to get the best possible outcome. So go ahead and click the link below right now and get access to it. It’s coming your way. Now, in respect of a rental property, there is expenses you’re going to pay. If you’ve got a loan, you’re going to pay interest, you’re going to pay rates, you’re going to pay agents fees, you’re going to have some repairs, you’re going to have insurance. The big one in the early years is your depreciation. It’s a non-cash item. You didn’t have to spend that cash every year, but you get a deduction for it. So you want to make sure you claim that tax deduction because that’s where a big amount of your refund is going to come back in the early years because we’re talking $15,000 depreciation in year one. And it slowly reduces. But in those first few years, that depreciation is massive for your tax refund.

Robbie: So that’s an on-paper non-cash deduction. No money left your bank account for you to include $15,000, which means it’s about an extra $5,000 in actual money to add on to your tax return.

Jace: Because of that one deduction. Correct.

Robbie: How good. Yeah, it’s great.

Jace: So that’s, I guess, then you talk about, okay, what do we do with that money? So a client might get their tax return done first two, three, four years of owning an investment property and they’re getting good refunds. So there’s two ways we can manage that. We’ve got an option to do a pay-as-you-go variation. So the example, I like my round numbers. If you were to get $12,000 back, you could have your employer withhold from your wage $1,000 less every month. So at the end of the year, when you do your tax return, you’ve effectively got your refund.

Robbie: I call it, you’re being drip-fed the refund throughout the year by paying less tax, therefore more take-home pay.

Jace: Exactly right. $1,000 a month extra during the year, no $12,000 at the end of the year.

Robbie: Can you do it up to… So when you do that tax planning and you forecast a $12,000 return, can you do the 12 lots of $1,000 a month or is it like 75% of it all?

Jace: Neither at all.

Robbie: Okay.

Jace: So we provide to the ATO what we expect it’s going to be and they base it on that. Now, 99.5% of people prefer the lump sum refund.

Robbie: Isn’t that interesting? Because I know you’ve implemented the PAYG variation order for a couple of clients and it’s instantly eased the cashflow burden for them.

Jace: So it’s great if they need to ease the cashflow burden. But the good thing is, because 99.9% of these people don’t do it, they haven’t got the cashflow burden. They don’t need the extra… That is a good thing. That’s a good thing. They don’t need the extra $1,000 a month because they can maintain it, they can handle it and then they get to the end of the year and they get $12,000. And so then it’s like, okay, what are we doing with this money? Because I always joke, my little one-liner is, I don’t want you to go waste this money on lollies because everyone spends all their money and when at the end of the day, it’s like, what did you spend your money on? I don’t know, I have nothing to show for it. So you bought lollies. You got nothing to show for it. So it’s great that you’ve got this extra money but now what? Are we going to put it in an offset account? Which is the minimum you should at least do. I had a client yesterday, we talked about them with their situation. They got a million dollar loan and they got an inheritance from their granddad, $70,000. Putting it in the offset account, just that money in the offset account saves them six years off the loan. And the lady at the moment, it’s in their bank account. The lady’s like, no, I need my husband to do this with me because I’m too scared to transfer that much money. And I’m like, you got to go home after our meeting. So it saves us six years but it also saves probably 110 grand worth of interest.

Robbie: Heaps of it. Yeah, yeah, yeah. Hard to correct. Yeah, broad figure.

Jace: So you can do that or a lot of your clients are planning their next property. So that goes in towards saving for the second property. A lot of the clients are on our wealth creation journey where they’re allocating money every month into the market. So they’re doing that.

Robbie: Stock market you’re talking about.

Jace: So we’re very proactive in helping people to, like I call it to increase the trajectory. So my whole programme, the way I talk about it is we’re here to give you clarity about the future. So we’ve got a model that shows you where you’re headed based on your actions. Peace of mind that you know, I’m doing everything I can be doing. There’s nothing more I can be doing. And what I call to increase the trajectory. So when we meet you, you’re heading this direction. If there’s changes that we can make that are positive, we can head in this direction. But notice, if I move that out of the way. Nothing happens here. You make changes here. Yeah. Here, we’re talking hundreds of thousands of dollars. Yeah. Sorry.

Robbie: Sorry. Hundreds of thousands of dollars. We got it. We got it. Loving this so far, mate. And there’s some clients that come to me, of course, they don’t have their money in offset account. I’m like, that’s interesting. You’ve got a $400,000 loan. You’ve got 10 grand next to it, which is a little operating float, but you’ve got 50 grand sitting over here. That’s in my high interest account over there. I’m like, okay, how much you get? So your loan on your interest is 6.4%. How much are you getting in your high interest account? Like, oh, it’s about 5.8, like maximum. All right. I’m like, did you know that the interest you earn on that money, you’ve got to pay tax on. So now you take off say 30 cents on the dollar. So it’s a bit of a weird one. Yeah. No, it’s not a weird one, right? It’s from a mindset perspective. I’m like, they’re like, oh yeah, maybe it should be sitting somewhere else then.

Jace: And so let’s say, the way I explain to people is what are your objectives? Do you have short-term objectives or long-term objectives? And short-term objectives are we’re saving for a property in the next 12, 18, 24 months. You need that money in the short term. Preservation of capital is the only thing we’re worried about. We don’t want to invest your money in the market and see it fall by 20% when you come to need it. So if we’re talking short-term objectives, we’re talking money in a bank account, we’re talking money in a term deposit or a high interest saver or best case scenario is money in your offset because the bank account, you might get 2%. The high interest saver, you might get 4%. Your loan is costing you say 6%. Now then if we say, we want to put your money in a loan, it’s like which loan? I’ve got two loans. I own my home and I own my investment property. Potentially, more often than not, your own home is going to be the better place for it because it’s not taxed at all. So you said that if I’ve got 5% interest where my money is, that’s taxable income. That 5% gets taxed at 30%. So your net is 3.5% whereas if your home loan is 6%, it’s not a taxable item. You just save 6% in tax. So you now got your money getting 6% return, not 3.5%. Do you want to make 3% or stop paying 6%? This is the whole Axon mindset thing. I’ve got a million one-liners as you know. One of them that relates to that is the ordinary done consistently produces extraordinary results. So you put that money in your offset account like my clients yesterday. In 24 years, they’re going to have their house paid off, not 30. So following on, my next little one-liner is you need to make decisions based on the knowledge of your future self. Do you want to get to 24 years down the track and go, hey, how good is this? We paid off our house. Or go, hang on a minute. Remember we chatted with that guy. We still owe six years. Imagine if we would have done what he said and our house has been paid off. So it’s just the choices now that determine the result later.

Robbie: And as a guy with a five in front of his age, my runway of context gets longer and longer. Do I like getting older? No. But do I like having more, being more wise?

Jace: But you’re talking about age, right? And the time that you’ve got ahead. That is all we’ve got to work with. It’s an enemy, but best friend. And time is undefeated. Nobody can beat time once you’ve lost it. You can’t go back. Now, again, I’ve got it all in my reporting. If you don’t use the time to its potential, that’s all our goal is to ensure that you use time to its full potential. If you don’t use it, when you start using it, you have to do more than what you did back here. If you want the same outcome. If you want the same outcome, right? And that makes it harder. It’s like, damn, and now I’ve got to put away 1500 a month when I could have just put away $1,000 a month. So it’s a racing clock made it apparently and not apparently guaranteed. It seems to go quicker every year. So yeah. And the less you’ve got, the more you’ve got to do.

Robbie: I was laying on my osteopath’s bed this morning, not his bed, the massage bed. And he goes, oh mate, he’s like 25 this week. He goes, yeah, buddy, I can’t believe this, mate. Time’s just flying along at the moment. I’m like, bro, you’re ready to fucking get 50. And I’ll tell you that time is flying even faster when you get to my age. Let’s talk about some ever-changing tax laws that come into play, especially when we’re talking about investment properties. And when I sort of pass it, I’m like, you know, it was like four or five years ago that the tax tax department made three massive changes to the tax laws. Do you remember what they are?

Jace: Yes. So you can, you used to be able to, you know, you might’ve had a holiday home in a nice exotic location, you know. Or even an investment property. An investment property. Yes.

Robbie: I knew what I meant. And you go there to visit the investment property and end up having a holiday.

Jace: Yeah. Yeah. And you claim it as a tax deduction. So the ATO said, hang on a minute, this is not working in our favour, which seems to be their mantra. You know, we want everything to work in our favour. So they put it there. Fair enough too. Yeah, absolutely. I mean, you know, if everybody did the right thing and said, I’m going over there for one week, you know, I’m going to spend one day on my property.

Robbie: Which is an hour and a half.

Jace: Yeah, correct. You know, and so I’m going to claim one seventh of the flight and one seventh of the accommodation and whatever, then we probably still have that. But we don’t. So the second change they made was if you were purchasing an investment property, say it was a land and build. At the point that you started paying expenses, so you might have to borrow money to buy land, the interest, everything was deductible. Correct. Throughout construction. Correct. Because the intention of that property was for investment purposes. And the way the tax law works is any expense incurred to generate income is deductible. Okay? So you’ve got interest for an investment property. They then came out and said, oh, hang on a minute, we’ve been a bit generous here. Very. Yeah, which it was a, I used to love that one because clients would get a big refund, you know, from all the outgoings when they didn’t have any income yet. Whereas I put a stop to that and said when your property is available for rent. Talking about available for rent versus actually rented. Right. Available for rent is you’ve, you know more the technical terms of this, but you’ve handed over a property, doors are locked and you can now advertise that property. You might not get somebody in there for a year. That’s a silly example. Obviously that’s not going to happen. But using silly examples, if that’s available for rent for that period of time and it’s not being rented, it’s all deductible. Great. Because your property is available for rent.

Robbie: From that day onwards, any outgoing, and then that’s cash and non-cash deductions. So I might just jump in here that your depreciation report. So that date, it needs to be noted and provided to the quantity surveyor who does your depreciation report. Because they’re as of that date going forward, pro rata to the end of the financial year, that’s how much non-cash deductions you get. So it’s a really important thing that you have a great understanding working with the build support team here at Axon about right, what date was my property made available for rent? We fill it all in for you, but again, educative and making sure you do know what you’re doing and manage your expectations as far as what your tax returns or tax deductions and calculations are going to be on your team. Because I don’t want people coming to you going, I reckon I’m going to get 20 grand back this year because I’ve got an investment property and the property become available for rent on the 15th of June. But you’ve only got 15 days of that financial year to get deductions and 20 grand ain’t coming your way. So it’s about managing expectations.

Jace: So just very much on that point. So we talk about 20 grand ain’t coming your way. If 20 grand was coming your way, we take it back to where I started at and saying your tax rates at the 30% bracket. Now, quickly doing some numbers, you’d need $62,000 give or take or 65,000 in deductions to get $20,000 back because you’re only getting the 30% of the full amount.

Robbie: Such a key takeaway team for everyone.

Jace: And that’s probably the main thing people don’t get. The other one, and I want to come back to your third point very quickly, but I saw someone on Facebook a bunch of years ago going, I only got back 300 bucks in tax. This is shit. And I’m like, people just don’t understand it. Like paying tax throughout the year is not you saving money to get it back at the end of the year. It’s not your money. The only reason you’re going to get anything back is because you’ve made an expense to generate assessable income and you get a portion of that back. Your third point was the depreciation we talk about.

Robbie: I love it when I flick to you, what are the three points? And I’m like, fuck, I hope he knows them. I had to quickly make up three points. Because I talk about this in generic terms, consult your account of a specific advice all the time.

Jace: Well, the third one is the depreciation. So, if you go into a, call it a secondhand house, a house that’s already been lived in, you can’t claim depreciation on fixtures and fittings of secondhand items.

Robbie: None of them.

Jace: Nothing. So you go buy a nice house somewhere. Yeah.

Robbie: Even one month old, one year old, two years old, still pretty brand new.

Jace: If it’s been lived in or owned by someone else. Yes, correct. So if you do a house and then do it like all your clients get the full impact of depreciation, which is significant in terms of a refund, then that’s great. But the rule was taken away from us about depreciating.

Robbie: Look, one of the other things I love that you get to talk to our clients is that whilst you know that the MSBS, Military Superannuation Benefit Scheme, different to ADS super, is pretty much locked away. But they do have their clients who got, or the ADF members who got a couple of different choices as far as like, was it like conservative balance of growth or something? Give us a bit of an insight in a couple of chats you’ve had to people there just to enable, just to allow them to again, think a different way and just make sure that every dollar they’ve got is working harder for them.

Jace: This is very timely that you bring this up because I’ve been introduced, because of the volume of clients that we’ve got, I’ve been introduced to some people at CSC. And I had a chat with a guy this week and I asked him this specific question. So as a member of the ADF, if you’ve got MSBS, you have three components to your super. You’ve got your employer component, which is your defined benefit. You’ve got your member component and you’ve got your ancillary component. As a default, and this really grates my gears, as a default, the military invest your member and your ancillary into the balanced option. Over the last 10 years, the balanced option has performed about 2% less than the aggressive option. I don’t like it. They call it aggressive. I don’t want that word. I wish I’d just say growth. But anyway, so I always talk to people and say, you know, our advice is generally to invest your money in the growth option and we’ll pull up the ADA or the MSBS chart online and show the, you know, one month, three months, one year, three, five, seven, 10 years. And the aggressive option is always earned more. Okay. So we always say, invest, there’s three choices that they have. There’s the current balance, there’s the future contributions, or there’s the combination of the current balance and the future contribution. Invest it in the aggressive option. And most people say, makes good sense. The odd person says, isn’t that going to mean I reach my MBL sooner? Okay. Yes.

Robbie: Maximum benefit limit. Yes.

Jace: And so I asked this question to the guy at CSC on Monday gone. I’m like, mate, I want to know what’s your take. I did not know you had this conversation. You didn’t.

Robbie: When you said this, the timeliness of this is phenomenal. Then there we go.

Jace: And so he said like from their own feedback and research and whatever, the odd client is going to reach their MBL sooner because of it. But the overwhelming majority of people aren’t going to be like career military.

Robbie: They don’t serve long enough.

Jace: Correct. They don’t.

Robbie: You got to do like 27, 28, 30 years. To be there. Yeah.

Jace: So the majority of people don’t serve long enough to get there. So if there’s such a minor impact on the odd person that does, for everybody else who doesn’t, they’re way better off.

Robbie: It’s a no brainer.

Jace: By having their super appropriately invested. Yeah.

Robbie: Now, can you just give me a bit of an insight? 2% is not, in my world, I’m like, oh, that’s not that much difference. But is it a big difference over a long period of time? My God.

Jace: Have you got that broad data?

Robbie: Yeah, I do.

Jace: So we had a scenario with a client today, earlier this week, again, earlier this week, where we’re talking about allocating money towards their home loan, and saving, you know, like surplus cash flow by paying down their home loan, or saving surplus funds into an investment. Okay. So in our tools, there’s a report which shows you if you invest x amount of money per month, for x many of years, x many of years, whatever the English is, then you’re going to get this. Okay. So for instance, it was $1,000 a month at nine and a half percent return. And it was, you know, $1.13 million, you know, in 30 years is what it became. If they put it on their home loan, I’d say 6%. So it’s three and a half percent, a bit more than 2%. It was down to about $500,000. So, you know, if we’re talking 2%, we’re going to be somewhere in the middle, 650 thereabouts. So $1.1 million, if you invest it, about 650, 700, if it’s a 2% less return. Now, what it again comes back to is what are your objectives? Are they short term or are they long term? And different risk profiles of people and people value different things as well. They do. But it’s my job to educate you that if you’ve got a long time ahead of you, that being growth orientated is appropriate. The share market might scare you. Okay. Because it has years of, it’s volatile.

Robbie: That is volatile.

Jace: It has months of negative return.

Robbie: Imagine if the property market was as volatile as the share market.

Jace: Yeah. Yeah. Everyone would be recklessly. But, you know, so, yeah, it’s my job to educate you and say, look at these charts since, you know, like give you an example. Here’s the perfect example. I’d know this one back to front. If you invested $100 in 1950, okay, in the Australian share market, it averaged about 11%, 11.8%. And your $100 became $300,000. Till now. So $100 invested in 1950, all income reinvested. Okay. Your return was 11.8% and you got to $300,000 now. If you put your $100 in the bank, you got 6%, you got $6,000. So you had the same $100, you had a 70 something year time frame. Now the top line was up and down. There was a huge number, like the global financial crisis was the one that everyone’s got to remember between, what are we talking, November 07, March 09, the market fell 50%. Okay. But your money still was, you know, 50 times higher by being more appropriately invested.

Robbie: The little analogy I was thinking of then is, well, you might have been told me this, is that if you’re a cat and you get a big bowl of mince in front of you, and the mince is nutritious, and it’s your favourite side of the mince, and you’re eating it and everything’s going well, and you see a mouse run past, what do you do? Yeah. Keep eating the fucking mince. Yeah. You know, if your portfolio and the way you structured your portfolio with little tweaks and stuff is working well for you, don’t go chasing shiny shit. Habits, automation, discipline. Yeah. Consistency and patience. Yeah, I love that. Mate, thanks so much for a chat. That was an absolute ripper. Hope everyone got out of that. There’s like five or six really, really key points as far as that goes. I reckon the five metre target staring you in the face right now is as we approach the end of the financial year for 2025. And if you’re listening to this in the like July, August, September, and I’ve said, hey, the checklist is coming your way, go back and check your fucking emails and get the checklist out and send Jace stuff because you got 10 grand coming your way, give or take what your personal circumstances are. Thanks again, mate. Hope you have a great day. See you soon.