101 Ways To Save Money on Your Tax - Legally! 2018-2019

Description

The essential money-saving tax resource, updated for 2018-2019 101 Ways to Save Money on Your Tax - Legally! is the tax guide every Australian should own. Packed with tips, answers and instructions from Mr. Taxman himself, this book shows you how to pay exactly what you owe - and not a single cent more! Individuals, investors, business owners, pensioners and more need clear advice targeted to their unique tax situation, and this guide delivers. From superannuation, medical expenses, levies, shares and property, to education, family and business, Adrian Raftery can show you how to leverage every deduction to keep more of your hard-earned money. This new edition has been updated for the 2018-2019 tax year, giving you the inside scoop on the latest changes to the tax codes and how they affect your specific situation. Keeping up with constantly-evolving tax laws is a full-time job - but it's not your full-time job. Let Mr. Taxman do the legwork and bring you up to date on what you need to know. You may be overpaying! Many Australians do, year after year. This book shows you how to determine what you actually owe under current laws, and how to set yourself up for better savings next year. - Learn how your taxes have changed for 2018-2019 - Maximise deductions and pay only what you owe - Discover expert tips for handling your unique situation - Avoid traps, errors, overpayment, and other common snags You work hard for your money, so why not keep more of it in your pocket? The advice in this guide may save you hundreds - or thousands - this year alone. When it's time to file your tax, don't go it alone. Get Mr. Taxman on your side and make this year your best filing yet using 101 Ways to Save Money on Your Tax - Legally! 2018-19 101 WAYS to SAVE MONEY ON YOUR TAX LEGALLY!......Page 2 CONTENTS......Page 8 ABOUT THE AUTHOR......Page 12 HOW TO USE THIS BOOK......Page 14 INTRODUCTION......Page 16 PART I: YOU AND YOUR FAMILY......Page 18 1 MARRIAGE......Page 19 2 INCOME SPLITTING......Page 21 3 DEPENDANT (INVALID AND CARER) TAX OFFSET......Page 23 4 CHILDREN......Page 25 5 PAID PARENTAL LEAVE......Page 27 6 DAD AND PARTNER PAY......Page 28 7 CHILD CARE......Page 29 Low-income tax offset......Page 31 Low-income superannuation tax offset......Page 32 9 SENIOR AND PENSIONER TAX OFFSET......Page 33 Family Tax Benefit Part A......Page 35 Better start for children with a disability......Page 36 Other benefits......Page 37 Transfer of assets......Page 38 Child support and spouse support payments......Page 39 Date of death return......Page 40 Deceased estate returns......Page 41 13 TRUSTS......Page 42 PART II: YOUR EMPLOYMENT......Page 46 14 CAR USAGE......Page 47 15 METHODS TO CLAIM CAR TRAVEL......Page 50 16 TRAVEL......Page 52 17 UNIFORM......Page 54 18 HOME OFFICE......Page 56 19 OTHER WORK-RELATED DEDUCTIONS......Page 59 20 KEEPING THOSE RECEIPTS......Page 61 21 ATO HIT LISTS......Page 63 Tax-free component of genuine redundancy......Page 66 Unused leave entitlements......Page 67 23 WORKING A SECOND JOB......Page 68 24 SALARY SACRIFICE......Page 70 25 FRINGE BENEF ITS......Page 72 26 LIVING-AWAY-FROM-HOME ALLOWANCE......Page 76 Food......Page 78 PART III: YOUR EDUCATION......Page 80 27 CLAIMING SELF-EDUCATION EXPENSES......Page 81 28 THE $250 THRESHOLD......Page 83 29 SELF-DEVELOPMENT COURSES......Page 85 30 HIGHER EDUCATION LOAN PROGRAM......Page 87 31 STUDENT FINANCIAL SUPPLEMENT SCHEME......Page 89 Austudy......Page 91 ABSTUDY......Page 93 33 TRADE SUPPORT LOANS......Page 94 34 SCHOLARSHIPS......Page 95 35 SCHOOL BUILDING FUNDS......Page 97 36 EDUCATION SAVINGS PLANS......Page 99 HECS-HELP benefit......Page 101 FEE-HELP......Page 102 OS-HELP......Page 103 PART IV: YOUR INVESTMENT PROPERTY......Page 104 38 NEGATIVE GEARING......Page 106 39 INTEREST......Page 108 40 DEPRECIATION......Page 111 41 LOW-VALUE POOLING......Page 113 42 REPAIRS AND MAINTENANCE......Page 115 43 BORROWIN GEXPENSES......Page 117 44 LEGAL EXPENSES......Page 119 45 OTHER RENTAL PROPERTY DEDUCTIONS......Page 120 46 FOREIGN INVESTMENT PROPERTIES......Page 123 47 CAPITAL GAINS TAX......Page 125 48 PAYG WITHHOLDING VARIATION......Page 127 49 PROPERTY GENUINELYAVAILABLE FOR RENT......Page 129 PART V: YOUR SHARES......Page 132 50 DIVIDENDS......Page 133 51 FRANKING CREDITS......Page 136 52 DIVIDEND REINVESTMENT PLANS......Page 138 53 LOWER INCOME EARNERS......Page 139 54 BORROWING TO BUY SHARES......Page 142 Internet access......Page 144 56 SHARES AND CAPITAL GAINS TAX......Page 145 57 REALISING CAPITAL LOSSES......Page 147 58 INHERITING SHARE PORTFOLIOS......Page 149 59 SHARE TRADERS VERSUS SHARE INVESTORS......Page 151 60 RIGHTS AND OPTIONS......Page 153 61 EMPLOYEE SHARE SCHEMES......Page 155 62 SHARE PORTFOLIOS WITHIN SELF MANAGED SUPERANNUATION FUNDS......Page 157 63 CRYPTOCURRENCY......Page 159 PART VI: YOUR SUPERANNUATION......Page 164 64 CONTRIBUTION LIMITS......Page 167 65 COMPULSORY EMPLOYER CONTRIBUTIONS......Page 170 66 SALARY SACRIFICE......Page 173 67 SUPER CO-CONTRIBUTION......Page 176 The income threshold test......Page 177 The 10 per cent eligible income test......Page 178 68 TRANSFERRING FOREIGN SUPER......Page 179 69 SELF MANAGED SUPERANNUATION FUNDS......Page 181 70 BUYING PROPERTY WITHIN SMSFS......Page 184 71 GEARING THROUGH A SUPER FUND......Page 187 72 ACCESSING YOUR SUPER......Page 190 73 TRANSITION TO RETIREMENT......Page 192 74 ACCOUNT-BASED PENSIONS......Page 194 75 DEATH BENEFITS......Page 196 76 LOST OR UNCLAIMED SUPER......Page 198 PART VII: YOUR BUSINESS......Page 202 77 CHOOSING THE RIGHT BUSINESS STRUCTURE......Page 204 Companies......Page 205 Trusts......Page 206 GST......Page 208 Activity statements......Page 209 79 RECORD KEEPING......Page 210 Deferring income......Page 213 Maximise deductions......Page 214 81 TRADING STOCK......Page 215 82 BAD DEBTS......Page 217 83 HOME-BASED BUSINESSES......Page 218 Taxation obligations......Page 221 Superannuation obligations......Page 222 Holiday and leave entitlements......Page 223 Simplified depreciation rules......Page 224 Income averaging......Page 225 Research and development tax incentive......Page 226 86 SELLING OR CLOSING DOWN......Page 227 87 PERSONAL SERVICES INCOME......Page 229 88 NON-COMMERCIAL LOSSES......Page 230 89 FRANCHISING......Page 232 90 OVERSEAS INCOME......Page 234 91 GETTING A GREAT ACCOUNTANT......Page 237 92 LODGING YOUR TAX RETURN......Page 239 Amendments......Page 242 Objections......Page 243 94 ATO DATA MATCHING......Page 244 95 PROBLEMS PAYING YOUR TAX......Page 247 96 MEDICAL EXPENSES TAX OFFSET......Page 248 Medicare levy surcharge......Page 251 98 ZONE AND OVERSEAS FORCES TAX OFFSETS......Page 253 Overseas forces tax offset......Page 254 99 TAX-EFFECTIVE INVESTMENTS......Page 255 100 TAX PLANNING AS A 365-DAY PROCESS......Page 257 101 JUST DO IT!......Page 258 GLOSSARY......Page 262 BIBLIOGRAPHY......Page 278 INDEX......Page 280 EULA......Page 0