You are previewing 101 Ways to Save Money on Your Tax - Legally! Updated for 2014-2015.
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101 Ways to Save Money on Your Tax - Legally! Updated for 2014-2015

Book Description

As featured on The Project (Channel Ten), A Current Affair (Channel 9), ABC Radio and in Money Magazine.

Stop giving your money away!

You work hard for your money, and you work even harder to set and keep a budget that makes the most of it. But when tax time arrives, do you feel shorted on your return? Nearly everyone has to pay taxes, but the government is only entitled to so much of your money. You might be letting them keep hundreds or even thousands of dollars that rightfully belong to you. No matter what your accounting habits have been so far, you can still claim what's yours.

101 Ways to Save Money on Your Tax—Legally! updated for 2014 – 2015 is your ultimate guide to maximising your return. Author Adrian Raftery, a.k.a. Mr. Taxman, is Australia's leading personal taxation expert. In the book, Raftery provides the information you need to get back every single dollar you're entitled to, plus tips and tricks that help you get the most out of deductions related to:

  • You, your family, and your property

  • Education, employment, and small business

  • Investment property, shares, and superannuation

  • Special circumstances, including medical expenses and levies

  • The book also contains advice on related matters, including tax-effective investments, tax planning, and how to find a great accountant. All information has been updated to reflect tax law changes wrought by the May 2014 budget. If you're tired of paying too much tax and seeing too little return, 101 Ways to Save Money on Your Tax—Legally! Updated for 2014 – 2015 is your comprehensive guide to putting things right, starting now.

    Table of Contents

    1. Part I You and your family
      1. 1 Marriage
      2. 2 Income splitting
      3. 3 Dependent spouse tax offset
      4. 4 Dependant (invalid and carer) tax offset
      5. 5 Children
      6. 6 Paid parental leave
      7. 7 Dad and partner pay
      8. 8 Child care
      9. 9 Low-income earners
      10. 10 Senior Australians
      11. 11 Other government benefits
      12. 12 Family breakdown
      13. 13 Death
      14. 14 Trusts
    2. Part II Your employment
      1. 15 Car usage
      2. 16 Methods to claim car travel
      3. 17 Travel
      4. 18 Uniform
      5. 19 Home office
      6. 20 Other work-related deductions
      7. 21 Keeping those receipts
      8. 22 ATO hit lists
      9. 23 Redundancy
      10. 24 Working a second job
      11. 25 Salary sacrifice
      12. 26 Fringe benefits
      13. 27 Living-away-from-home allowance
    3. Part III Your education
      1. 28 Claiming self-education expenses
      2. 29 The $250 threshold
      3. 30 Self-development courses
      4. 31 Higher Education Loan Program
      5. 32 Student Financial Supplement Scheme
      6. 33 Austudy and ABSTUDY
      7. 34 Other government assistance
      8. 35 Scholarships
      9. 36 School building funds
      10. 37 Education savings plans
    4. Part IV Your investment property
      1. 38 Negative gearing
      2. 39 Interest
      3. 40 Depreciation
      4. 41 Low-value pooling
      5. 42 Repairs and maintenance
      6. 43 Travel to see your investment property
      7. 44 Borrowing expenses
      8. 45 Legal expenses
      9. 46 Other rental property deductions
      10. 47 Foreign investment properties
      11. 48 Capital gains tax
      12. 49 PAYG withholding variation
      13. 50 Property genuinely available for rent
    5. Part V Your shares
      1. 51 Dividends
      2. 52 Franking credits
      3. 53 Dividend reinvestment plans
      4. 54 Lower income earners
      5. 55 Borrowing to buy shares
      6. 56 Other allowable deductions
      7. 57 Shares and capital gains tax
      8. 58 Realising capital losses
      9. 59 Inheriting share portfolios
      10. 60 Share traders versus share investors
      11. 61 Rights and options
      12. 62 Employee share schemes
      13. 63 Share portfolios within self managed superannuation funds
    6. Part VI Your superannuation
      1. 64 Contribution limits
      2. 65 Compulsory employer contributions
      3. 66 Salary sacrifice
      4. 67 Super co-contribution
      5. 68 Transferring foreign super
      6. 69 Self managed superannuation funds
      7. 70 Buying property within SMSFs
      8. 71 Gearing through a super fund
      9. 72 Accessing your super
      10. 73 Transition to retirement
      11. 74 Allocated pensions
      12. 75 Death benefits
      13. 76 Lost or unclaimed super
    7. Part VII Your business
      1. 77 Choosing the right business structure
      2. 78 Tax obligations
      3. 79 Record keeping
      4. 80 Deferring tax
      5. 81 Trading stock
      6. 82 Bad debts
      7. 83 Home-based businesses
      8. 84 Employing people
      9. 85 Tax concessions and offsets
      10. 86 Selling or closing down
      11. 87 Personal services income
      12. 88 Non-commercial losses
      13. 89 Franchising
    8. Part VIII Miscellaneous
      1. 90 Overseas income
      2. 91 Getting a great accountant
      3. 92 Lodging your tax return
      4. 93 Amending returns and objecting to assessments
      5. 94 ATO data matching
      6. 95 Problems paying your tax
      7. 96 Medical expenses tax offset
      8. 97 Levies
      9. 98 Zone and overseas forces tax offsets
      10. 99 Tax-effective investments
      11. 100 Tax planning as a 365-day process
      12. 101 Just do it!
    9. End User License Agreement