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 10 5 Paid parental leave 13 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 benefits 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 43 18 Home office 45 19 Other work-related deductions 48 20 Keeping those receipts 51 21 ATO hit lists 53 22 Redundancy 56 23 Working a second job 58 24 Salary sacrif ice 61 25 Fringe benef its 63 26 Living-away-from-home allowance 67 Part III Your education 73 27 Claiming self-education expenses 74 28 The $250 threshold 77 29 Self-development courses 79 30 Higher Education Loan Program 82 31 Student Financial Supplement Scheme 86 32 Austudy and ABSTUDY 88 33 Trade Support Loans 91 34 Scholarships 93 35 School building funds 96 36 Education savings plans 98 37 Other government assistance 101 Part IV Your investment property 105 38 Negative gearing 107 39 Interest 110 40 Depreciation 114 41 Low-value pooling 117 42 Repairs and maintenance 119 43 Travel to see your investment property 122 44 Borrowing expenses 124 45 Legal expenses 127 46 Other rental property deductions 128 47 Foreign investment properties 132 48 Capital gains tax 134 49 PAYG withholding variation 137 50 Property genuinely available for rent 140 Part V Your shares 143 51 Dividends 145 52 Franking credits 148 53 Dividend reinvestment plans 151 54 Lower income earners 152 55 Borrowing to buy shares 155 56 Other allowable deductions 158 57 Shares and capital gains tax 160 58 Realising capital losses 162 59 Inheriting share portfolios 164 60 Share traders versus share investors 166 61 Rights and options 169 62 Employee share schemes 171 63 Share portfolios within self managed superannuation funds 174 Part VI Your superannuation 177 64 Contribution limits 180 65 Compulsory employer contributions 183 66 Salary sacrifice 186 67 Super co-contribution 189 68 Transferring foreign super 191 69 Self managed superannuation funds 194 70 Buying property within SMSFs 197 71 Gearing through a super fund 200 72 Accessing your super 203 73 Transition to retirement 205 74 Account-based pensions 207 75 Death benefits 209 76 Lost or unclaimed super 211 Part VII Your business 215 77 Choosing the right business structure 217 78 Tax obligations 221 79 Record keeping 225 80 Deferring tax 228 81 Trading stock 230 82 Bad debts 232 83 Home-based businesses 234 84 Employing people 237 85 Tax concessions and offsets 240 86 Selling or closing down 243 87 Personal services income 245 88 Non-commercial losses 247 89 Franchising 248 Part VIII Miscellaneous 251 90 Overseas income 252 91 Getting a great accountant 255 92 Lodging your tax return 258 93 Amending returns and objecting to assessments 261 94 ATO data matching 264 95 Problems paying your tax 267 96 Medical expenses tax offset 269 97 Levies 272 98 Zone and overseas forces tax offsets 277 99 Tax-effective investments 279 100 Tax planning as a 365-day process 281 101 Just do it! 283 Glossary 285 Bibliography 303 Index 305

About the Author

DR ADRIAN RAFTERY has over 20 years' experience as an awardwinning accountant and tax expert. One of Australia's leading tax and finance commentators, Adrian regularly appears on TV and contributes to magazines and newspapers. Visit him at www.mrtaxman.com.au