Tax for Australians For Dummies

Introduction 1 Part 1: 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 17 Chapter 3: Lodging Your Tax Return: This One Is for the Nation 33 Chapter 4: Receiving a Visit: When the Tax Office Comes Knocking 47 Part 2: Income from Personal Exertion 55 Chapter 5: Taxing Employees: Working Class Folk 57 Chapter 6: Living in Your Castle: Main Residence 73 Chapter 7: Taxing Issues Affecting Students and Your Children 81 Part 3: Tax-Effective Investments 91 Chapter 8: Interesting Stuff: Bank Deposits and Tax 93 Chapter 9: Owning Part of the Company: Investing in Shares 99 Chapter 10: Building Your Dreams: Investing in Bricks and Mortar 113 Chapter 11: Catching Up on Capital Gains Tax 131 Part 4: Running a Business 147 Chapter 12: Structuring Your Business for Maximum Gain 149 Chapter 13: Starting a Business: On Your Mark! Get Set! Go! 165 Chapter 14: Reducing Your Small Business Tax Bill 181 Chapter 15: Collecting Tax for the Government: Goods and Services Tax 195 Chapter 16: Living on the Fringe: Fringe Benefits Tax 203 Chapter 17: Getting Wealthy: CGT and Small Business 213 Part 5: Thinking Long Term 221 Chapter 18: Preparing for Retirement Using Superannuation 223 Chapter 19: Reaping What You Sow: Receiving a Pension and Government Concessions 243 Chapter 20: Death and Taxes: Wills and Asset Distribution 257 Part 6: The Part of Tens 267 Chapter 21: Ten Ways to Minimise Your Tax while Keeping the Tax Office Happy 269 Chapter 22: Ten Common Tax Mistakes to Avoid 277 Appendix A: Taxing the Visitors: Non-Residents 287 Appendix B: Leading Tax Cases and Tax Office Publications: Study Guide 293 Glossary 305 Index 311