$Jedi Communications/process

@kerry63 can you post the link for the ATO definition of allowable expenses?

I personally have a surplus in my bucket- its my buffer around expenses. I usually keep this at a certain dollar value.

For me a surplus is an amount that is left over after a budget has been fully expended at the end of a period of time, usually a financial year. For me this can definitely happen with the admin bucket and then we would have a process for what to do with this money as Jeder. (There is already a thread started for this conversation). For me, an individual cannot have a surplus as it will always be allocated for something. at sometime. For example, I have not had any income for the last 12 months and knowing this had accrued $ in my bucket for wages to make sure that I could have a payment each fortnight. for me a 'buffer' is not a surplus, it is a budget allocation. I do not feel we can put a limit on how much a person can have in their individual bucket.

I agree - I think Jeder needs a clear policy statement on what can and cannot be purchased using bucket funds - perhaps this ties in with the discussion around each person having a budget for their buckets too? Should a budget template be accompanied by a basic statement on what bucket funds can and cannot be used for?

Sounds great, I did not realise we had limitations on what we could use funds for?

All we need to do is follow the ATO rules

Yes - I agree. We don't need to re-invent the wheel, we just need it to be clear for everyone what the requirements are.

I have set up a thread for allowable expenses so people can find this conversation.