Table of Contents

About the author xi How to use this book xiii Introduction xvii Part I You and your family 1 1 Marriage 2 2 Income splitting 5 3 Dependant (invalid and carer) tax offset 7 4 Children 9 5 Paid parental leave 12 6 Dad and partner pay 14 7 Child care 15 8 Low-income earners 17 9 Senior and pensioner tax offset 19 10 Other government benef its 21 11 Family breakdown 25 12 Death 27 13 Trusts 30 Part II Your employment 33 14 Car usage 35 15 Methods to claim car travel 38 16 Travel 40 17 Uniform 42 18 Home off ice 44 19 Other work-related deductions 47 20 Keeping those receipts 50 21 ATO hit lists 52 22 Redundancy 55 23 Working a second job 57 24 Salary sacrif ice 60 25 Fringe benef its 62 26 Living-away-from-home allowance 66 Part III Your education 71 27 Claiming self-education expenses 72 28 The $250 threshold 75 29 Self-development courses 77 30 Higher Education Loan Program 80 31 Student Financial Supplement Scheme 84 32 Austudy and ABSTUDY 86 33 Trade Support Loans 89 34 Scholarships 91 35 School building funds 93 36 Education savings plans 96 37 Other government assistance 98 Part IV Your investment property 103 38 Negative gearing 105 39 Interest 108 40 Depreciation 112 41 Low-value pooling 115 42 Repairs and maintenance 117 43 Travel to see your investment property 120 44 Borrowing expenses 122 45 Legal expenses 125 46 Other rental property deductions 126 47 Foreign investment properties 130 48 Capital gains tax 132 49 PAYG withholding variation 135 50 Property genuinely available for rent 138 Part V Your shares 141 51 Dividends 143 52 Franking credits 146 53 Dividend reinvestment plans 149 54 Lower income earners 150 55 Borrowing to buy shares 153 56 Other allowable deductions 156 57 Shares and capital gains tax 158 58 Realising capital losses 160 59 Inheriting share portfolios 162 60 Share traders versus share investors 164 61 Rights and options 167 62 Employee share schemes 169 63 Share portfolios within self managed superannuation funds 172 Part VI Your superannuation 175 64 Contribution limits 178 65 Compulsory employer contributions 181 66 Salary sacrifice 184 67 Super co-contribution 187 68 Transferring foreign super 189 69 Self managed superannuation funds 192 70 Buying property within SMSFs 195 71 Gearing through a super fund 198 72 Accessing your super 201 73 Transition to retirement 203 74 Account-based pensions 205 75 Death benefits 207 76 Lost or unclaimed super 209 Part VII Your business 213 77 Choosing the right business structure 215 78 Tax obligations 219 79 Record keeping 223 80 Deferring tax 226 81 Trading stock 228 82 Bad debts 230 83 Home-based businesses 232 84 Employing people 235 85 Tax concessions and offsets 238 86 Selling or closing down 241 87 Personal services income 243 88 Non-commercial losses 245 89 Franchising 246 Part VIII Miscellaneous 249 90 Overseas income 250 91 Getting a great accountant 253 92 Lodging your tax return 256 93 Amending returns and objecting to assessments 259 94 ATO data matching 262 95 Problems paying your tax 265 96 Medical expenses tax offset 267 97 Levies 270 98 Zone and overseas forces tax offsets 275 99 Tax-effective investments 277 100 Tax planning as a 365-day process 279 101 Just do it! 281 Glossary 283 Bibliography 301 Index 303

About the Author

DR ADRIAN RAFTERY has over 20 years' experience as an award-winning accountant and tax expert. 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.