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101 Ways to Save Money on Your Tax - Legally! 2020 - 2021
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Table of Contents

About the author xi How to use this book xiii Introduction xv Part I You and your family 1 1 Marriage 2 2 Income splitting 4 3 Dependant (invalid and carer) tax offset 6 4 Children 8 5 Payments for new parents 10 6 Child care 12 7 Low-income earners 15 8 Senior and pensioner tax offset 17 9 Other government benefits 19 10 Family breakdown 23 11 Death 25 12 Family trusts 27 Part II Your employment 31 13 Car usage 32 14 Methods to claim car travel 35 15 Travel 37 16 Uniform 39 17 Home office 41 18 Other work-related deductions 46 19 Keeping those receipts 48 20 ATO hit lists 50 21 Redundancy 53 22 Working a second job 55 23 Salary sacrifice 57 24 Fringe benefits 59 25 Living-away-from-home allowance 63 Part III Your education 67 26 Claiming self-education expenses 68 27 The $250 threshold 70 28 Self-development courses 72 29 Student loans 74 30 Austudy and ABSTUDY 81 31 Scholarships 83 32 School building funds 85 33 Education savings plans 87 Part IV Your investment property 91 34 Negative gearing 93 35 Interest 95 36 Depreciation 98 37 Low-value pooling 100 38 Repairs and maintenance 102 39 Borrowing expenses 104 40 Legal expenses 106 41 Other rental property deductions 108 42 Foreign investment properties 111 43 Capital gains tax 112 44 PAYG withholding variation 115 45 Co-ownership of your investment property 117 Part V Your shares 121 46 Dividends 122 47 Shares owned by low income earners 128 48 Borrowing to buy shares 131 49 Other share deductions 133 50 Capital gains tax on shares 134 51 Realising capital losses 136 52 Inheriting share portfolios 138 53 Share traders versus share investors 140 54 Rights and options 142 55 Employee share schemes 144 56 Share portfolios within self managed superannuation funds 146 57 Cryptocurrency 148 Part VI Your superannuation 153 58 Contribution limits 156 59 Transfer Balance Cap 159 60 Downsizer Contribution 162 61 Compulsory employer contributions 165 62 Salary sacrifice 167 63 Division 293 tax 170 64 Super co-contribution 172 65 Transferring foreign super 175 66 Self managed superannuation funds 177 67 Buying property within SMSFs 180 68 Gearing through a super fund 182 69 Accessing your super 184 70 Transition to retirement 187 71 Account-based pensions 189 72 Death benefits 191 73 Lost or unclaimed super 193 Part VII Your business 197 74 Choosing the right business structure 199 75 Tax obligations 202 76 Record keeping 206 77 Deferring tax 208 78 Trading stock 210 79 Bad debts 212 80 Home-based businesses 214 81 Sharing Economy 216 82 Employing people 218 83 Single Touch Payroll 223 84 Tax concessions and offsets 226 85 Selling or closing down 230 86 Personal services income 232 87 Non-commercial losses 233 88 Division 7A loans by private companies 235 89 Franchising 237 Part VIII Miscellaneous 239 90 Overseas income 239 91 Getting a great accountant 242 92 Lodging your tax return 244 93 Amending returns and objecting to assessments 247 94 ATO data matching 249 95 Problems paying your tax 252 96 Estate planning 254 97 Levies 259 98 Zone and overseas forces tax offsets 262 99 Tax-effective investments 264 100 Tax planning as a 365-day process 265 101 Just do it! 267 Glossary 269 Bibliography 287 Index 289

About the Author

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.

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