Tax For Australians For Dummies

Tackle your tax with confidence and get the most from your return Do you want to be sure you′re getting the maximum tax refund? Of course you do! And Tax for Australians For Dummies, 2013–2014 Edition is the only resource you need to ensure that you get every cent you deserve. Written by respected tax specialist and CPA fellow Jimmy B. Prince, this book guides you step by step through the complex Australian tax system to help you understand exactly what you can claim and exactly what you′re owed. Providing complete coverage of changes to tax legislation for tax year 2013–2014, as well as proposed changes that haven′t made it into law yet, this book has you covered from every angle. Designed to help you take advantage of everything from investments to kids to government concessions, Tax for Australians For Dummies tells you everything you need to know to beat the taxman at his own game. Written specifically for Australian taxpayers Fully updated for the 2013–2014 tax year Includes everything you need to maximise your tax refund Contains essential new information on recent tax changes, including updated tax rates, FBT, CGT, and superannuation thresholds Whether you′re an employee, investor, small business owner, retiree, or even student, Tax for Australians For Dummies, 2013–2014 Edition is the easy–to–follow guide that answers all your tax questions.

Introduction 1 Part I: How You′re Taxed in Australia 5 Chapter 1: Understanding the Australian Tax System 7 Chapter 2: Taxing Australians: The Formula You Need to Know 15 Chapter 3: Lodging Your Tax Return: This One Is for the Nation 29 Chapter 4: Receiving a Visit: When the Tax Office Comes Knocking 43 Part II: Income from Personal Exertion 49 Chapter 5: Taxing Employees: Working Class Man 51 Chapter 6: Living in Your Castle: Main Residence 65 Chapter 7: Taxing Issues That Affect Your Children 73 Part III: Tax–Effective Investments 83 Chapter 8: Interesting Stuff: Bank Deposits and Tax 85 Chapter 9: Owning Part of the Company: Investing in Shares 89 Chapter 10: Building Your Dreams: Investing in Bricks and Mortar 101 Chapter 11: Catching Up on Capital Gains Tax 119 Part IV: Running a Business 135 Chapter 12: Structuring Your Business for Maximum Gain 137 Chapter 13: Starting a Business: On Your Mark! Get Set! Go! 151 Chapter 14: Reducing Your Small Business Tax Bill 165 Chapter 15: Collecting Tax for the Government: Goods and Services Tax 177 Chapter 16: Living on the Fringe: Fringe Benefits Tax 185 Chapter 17: Getting Wealthy: CGT and Small Business 195 Part V: Thinking Long–Term 203 Chapter 18: Preparing for Retirement Using Superannuation 205 Chapter 19: Reaping What You Sow: Receiving a Pension and Government Concessions 223 Chapter 20: Death and Taxes: Wills and Asset Distribution 235 Part VI: The Part of Tens 243 Chapter 21: Ten Ways to Minimise Your Tax while Keeping the Tax Office Happy 245 Chapter 22: Ten Common Tax Mistakes You Need to Avoid 253 Appendix A: Taxing the Visitors: Non–Residents 261 Glossary 267 Index 273