101 Ways to Save Money on Your Tax - Legally! 2019-2020

Front Cover
John Wiley & Sons, Jul 1, 2019 - Business & Economics - 288 pages

An essential money-saving resource for every Australian who pays tax – fully updated for the 2019-2020 tax year.

101 Ways to Save Money on Your Tax – Legally! is the tax guide every Australian should own. Step-by-step instructions from Adrian Raftery, akaMr. Taxman, will show you how to leverage every available deduction to lower your tax bill and keep more of your hard-earned money. Thoroughly updated for the 2019-2020 tax year, this new edition gives you the latest information on changes to the tax codes and how they affect your situation.

Tax laws are constantly changing, but you don’t have to pore over piles of legislation to file your tax accurately and completely – that’s what Mr. Taxman is here for. Don’t let yourself become one of the people who overpay, find out what you actually owe and prepare for even better savings next year. This guide removes the stress and confusion from tax season and helps you file on time with no mistakes. Whether an individual, married couple, investor, business owner or pensioner, this guide will help you:

  • understand how your taxes have changed for 2019-2020
  • reduce your tax bill, potentially by $100s or $1000s
  • learn plenty of expert tips, avoid tax traps and find the answers to frequently-asked questions
  • explore topics such as medical expenses, levies, shares, property, education, business and family expenses, superannuation and much more
  • protect yourself from errors, audits, overpayments and other common problems.

When it's time to file your tax, turn to 101 Ways to Save Money on Your Tax – Legally! Maximise your deductions and get the best possible tax return. Don’t pay more than you have to, Mr. Taxman is here to help.

 

What people are saying - Write a review

We haven't found any reviews in the usual places.

Contents

PART I
1
Marriage
2
Income splitting
4
Dependant invalid and carer tax offset
6
Children
8
Payments for new parents
10
Child care
12
Lowincome earners
15
Foreign investment properties
106
Capital gains tax
108
PAYG withholding variation
110
Property genuinely available for rent
112
PART V
115
Dividends
116
Franking credits
119
WAYS TO SAVE MONEY ON YOUR TAX LEGALLY
120

Senior and pensioner tax offset
17
Other government benefits
19
Family breakdown
22
Death
24
Family trusts
26
PART II
29
Car usage
30
Methods to claim car travel
33
Travel
35
Uniform
37
Home office
39
Other workrelated deductions
42
Keeping those receipts
44
ATO hit lists
46
Redundancy
49
Working a second job
51
Salary sacrifice
53
Fringe benefits
55
Livingawayfromhome allowance
59
PART III
63
Claiming selfeducation expenses
64
The 250 threshold
66
Selfdevelopment courses
68
Student loans
70
Austudy and ABSTUDY
78
Scholarships
80
School building funds
82
Education savings plans
84
PART IV
87
Negative gearing
89
Interest
91
Depreciation
94
Lowvalue pooling
96
Repairs and maintenance
98
Borrowing expenses
100
Legal expenses
102
CONTENTS vii
104
Dividend reinvestment plans
121
Shares owned by low income earners
122
Borrowing to buy shares
125
Other share deductions
127
Capital gains tax on shares
128
Realising capital losses
130
Inheriting share portfolios
132
Share traders versus share investors
134
Rights and options
136
Employee share schemes
138
Share portfolios within self managed superannuation funds
140
Cryptocurrency
142
PART VI
147
Contribution limits
150
Transfer Balance Cap
153
Downsizer Contribution
156
Compulsory employer contributions
159
Salary sacrifice
161
Division 293 tax
164
Super cocontribution
166
Transferring foreign super
169
Self managed superannuation funds
171
Buying property within SMSFs
174
Gearing through a super fund
176
Accessing your super
178
Transition to retirement
180
Accountbased pensions
182
Death benefits
184
Lost or unclaimed super
185
PART VII
189
Trading stock
202
Selling or closing down
217
Amending returns and objecting to assessments
231
Taxeffective investments
244
Bibliography
267
Copyright

Other editions - View all

Common terms and phrases

About the author (2019)

DR ADRIAN RAFTERY has over 25 years of experience as an award-winning accountant and tax expert. As one of Australia's leading tax and finance commentators, Adrian regularly appears on TV and contributes to magazines and newspapers. Find out more at www.mrtaxman.com.au.

Bibliographic information