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 33
14 Methods to claim car travel 35
15 Travel 37 1
6 Uniform 39
17 Home office 41
18 Other work-related deductions 44
19 Keeping those receipts 46
20 ATO hit lists 49
21 Redundancy 52 22 Working a second job 54
23 Salary sacrifice 55
24 Fringe benefits 57
25 Living-away-from-home allowance 62
PART III YOUR EDUCATION 67
26 Claiming self-education expenses 68
27 Student loans 72
28 Austudy and ABSTUDY 78
29 Scholarships 81
30 School building funds 83
31 Education savings plans 85
PART IV YOUR INVESTMENT PROPERTY 89
32 Negative gearing 91
33 Interest 93
34 Depreciation and low-value pooling 96
35 Repairs and maintenance 100
36 Borrowing and legal expenses 102
37 Other rental property deductions 106
38 Foreign investment properties 108
39 Capital gains tax 110
40 PAYG withholding variation 113
41 Co-ownership of your investment property 115
PART V YOUR SHARES 119
42 Dividends 120
43 Shares owned by low income earners 126
44 Borrowing to buy shares 129
45 Other share deductions 131
46 Capital gains tax on shares 132
47 Realising capital losses 134
48 Inheriting share portfolios 136
49 Share traders versus share investors 138
50 Rights and options 140
51 Employee share schemes 142
52 Share portfolios within self managed superannuation funds 144
53 Cryptocurrency 146 54 Non-fungible tokens 150
PART VI YOUR SUPERANNUATION 153
55 Contribution limits 156
56 Transfer Balance Cap 159
57 Downsizer Contribution 162
58 Compulsory employer contributions 165
59 Salary sacrifice 167
60 Division 293 tax 170
61 Super co-contribution 172
62 Transferring foreign super 175
63 Self managed superannuation funds 177
64 Buying property within SMSFs 180
65 Gearing through a super fund 182
66 Accessing your super 184
67 Transition to retirement 187
68 Account-based pensions 189
69 Death benefits 191
70 Lost or unclaimed super 192
PART VII YOUR BUSINESS 197
71 Choosing the right business structure 198
72 Tax obligations 203
73 Record keeping 206
74 Deferring tax 208
75 Trading stock 210
76 Bad debts 211
77 Home-based businesses 213
78 Sharing Economy 215
79 Employing people 217
80 Single touch payroll 220
81 Tax concessions and offsets 223
82 Selling or closing down 228
83 Personal services income 230
84 Non-commercial losses 231
85 Division 7A loans by private companies 233
86 Franchising 235
87 Crowdfunding 236
88 Loss carry back tax offset 238
PART VIII MISCELLANEOUS 243
89 Overseas income 243
90 Getting a great tax accountant 246
91 Lodging your tax return 248
92 Amending returns and objecting to assessments 251
93 ATO data matching 253
94 Problems paying your tax 257
95 Estate planning 258
96 Private ancillary funds 263
97 Levies 266
98 Zone and overseas forces tax offsets 269
99 Tax-effective investments 271
100 Tax planning as a 365-day process 273
101 Just do it! 274
Glossary 277
Bibliography 295
Index 297
