Take on your tax with confidence and get the most out of your next tax return Do you want to be sure you're getting the maximum tax refund? Of course you do! And Tax For Australians for Dummies, 2012-13 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 world of the Australian tax system to help you understand exactly what you can claim. Providing complete coverage of changes to tax legislation for the 2012-13 tax year, as well as proposed changes that haven't quite made into law yet, the 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.
* Designed specifically for Australians * Fully updated for the 2012-13 tax year * Includes everything you need to build your tax knowledge * Contains essential new information on claiming home office, work, car, and self-education expenses, and uses case studies to illustrate your opportunities to save * Further updates for this year cover changes to private health insurance rules, tax audits, tax offsets, special disability trusts, and tax issues for companies and trusts Whether you're an employee, investor, small business owner, retiree, or student, Tax For Australians for Dummies, 2012-13 Edition is the easy-to-follow guide that answers all your tax questions.
Jimmy B. Prince is a fellow of CPA Australia, a tax specialist and author of several investment books. He is a former lecturer in income tax law at La Trobe University and has worked for the Australian Taxation Office.
Introduction 1 Part I: How You're Taxed in Australia 7 Chapter 1: Understanding the Australian Tax System 9 Chapter 2: Taxing Australians: The Formula You Had to Have 17 Chapter 3: Lodging Your Tax Return: This One Is for the Nation 31 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 117 Part IV: Running a Business 133 Chapter 12: Structuring Your Business for Maximum Gain 135 Chapter 13: Starting a Business: On Your Mark! Get Set! Go! 149 Chapter 14: Reducing Your Small Business Tax Bill 163 Chapter 15: Collecting Tax for the Government: Goods and Services Tax 175 Chapter 16: Living on the Fringe: Fringe Benefits Tax 183 Chapter 17: Getting Wealthy: CGT and Small Business 193 Part V: Thinking Long Term 201 Chapter 18: Preparing for Retirement Using Superannuation 203 Chapter 19: Reaping What You Sow: Receiving a Pension and Government Concessions 221 Chapter 20: Death and Taxes: Wills and Asset Distribution 231 Part VI: The Par t of Tens 239 Chapter 21: Ten Ways to Minimise Your Tax while Keeping the Tax Office Happy 241 Chapter 22: Ten of the Top Retirement Tax Tips 249 Appendix A: Taxing the Visitors: Non-Residents 255 Glossary 261 Index 267