Book description
The one-stop resource for understanding the Australian tax system, from the experts at Taxpayers Australia
The complete guide to understanding the Australian tax system, The Taxpayers' Guide 2013-2014 is packed with tax-savings strategies and helpful advice presented in a clear, easy-to-follow style that makes it essential reading for all taxpayers seeking information and tools to ensure they pay exactly what they owe...and not a cent more. Revised and updated for the 2013-2014 tax year, the book brings together almost a century of expertise from Taxpayers Australia in one comprehensive volume.
Now in its 25th edition, The Taxpayers' Guide is an informative, practical resource that answers even the most complicated tax problems in a well-organized, readily accessible format. Expansive in its coverage, the book addresses income tax rates, deductions for individuals and contractors, superannuation, capital gains, investment property, planning for retirement, investments, small business issues, trusts, payroll taxes, and much more.
Fully revised and updated for the 2013-2014 tax year
Easy to follow and comprehensive in scope, with coverage of everything from retirement to trusts
Filled with invaluable information, excellent advice, and practical strategies for understanding the tax system and maximizing rebates, The Taxpayers' Guide 2013-2014 is the all-new edition of Taxpayers Australia's trusted tax guide.
Table of contents
- Cover Page
- Title Page
- Copyright Page
- Preface
- Acknowledgements
- Taxpayers Australia
- Superannuation Australia
- TAI Practitioners & Advisers Ltd
- Products
- Taxpayers Online
- Electronic Tax Summary
- Chapter 1: Introduction
-
Chapter 2: Tax Rates and Offsets
-
2.000 Assessment notice
- 2.010 Personal income tax rates 2012-13
- 2.011 Income tax ready reckoner 2012-13 (and 2011-12)
- 2.012 Income tax ready reckoner with LITO 2012-13
- 2.020 Personal income tax rates 2013-14
- 2.021 Income tax ready reckoner 2013-14
- 2.022 Income tax ready reckoner with LITO 2013-14
- 2.030 Reduced tax-free threshold
- 2.040 Income derived by minors
- 2.050 Medicare levy
- 2.060 Medicare levy surcharge
- 2.070 Above average special professional income
-
2.100 Tax offsets for individuals & family benefits
- 2.110 Consolidated dependant (invalid and carer) tax offsets
- 2.120 Baby Bonus (maternity payment)
- 2.121 Baby Bonus (first child tax offset)
- 2.130 Child care tax rebate
- 2.140 Family tax benefit
- 2.150 Schoolkids Bonus
- 2.160 Medical expenses tax offset
- 2.170 Zone and overseas defence forces tax offsets
- 2.180 Mature age worker tax offset
- 2.190 Senior Australian and pensioner tax offset
- 2.200 Former pensioner tax offset and senior Australian tax offset
- 2.210 Beneficiary tax offset
- 2.220 Private health insurance tax offset
- 2.230 Delayed income tax offset
- 2.240 Medicare levy surcharge lump sum in arrears tax offset
- 2.250 Entrepreneurs’ tax offset
-
2.000 Assessment notice
- Chapter 3: Self-assessment
- Chapter 4: Tax collection systems
-
Chapter 5: Companies
-
5.000 Companies
- 5.100 Definition of a company
- 5.150 Public unit trusts taxed as companies
- 5.200 Debt/equity provisions
- 5.300 Loans, payments and debt forgiveness
- 5.350 Loans: Pre-December 1997
- 5.400 Carry forward losses
- 5.500 Tax consolidation
- 5.600 Bad debts
- 5.700 Lodgements
- 5.800 Dividend imputation system
- 5.820 Franking account tax return
- 5.850 Distribution statement
- 5.900 Anti-avoidance rules
-
5.000 Companies
-
Chapter 6: Trusts
-
6.000 Trusts
- 6.150 Comparison of trust structures
- 6.170 Trustee distribution resolutions by 30 June
- 6.200 Family trusts
- 6.300 Trustee beneficiary reporting
- 6.350 TFN trust withholding rules
- 6.400 Service trusts
- 6.500 Trading trusts
- 6.600 Calculating trust income
- 6.700 Taxing trusts and beneficiaries
- 6.800 Other CGT consequences
- 6.900 Trust losses and bad debts
- 6.950 Deceased estates
-
6.000 Trusts
- Chapter 7: Partnerships
- Chapter 8: Comparison of structures
-
Chapter 9: Small business entity framework
-
9.000 SBE framework
- 9.100 Overview
- 9.200 Eligibility
- 9.230 Grouping provisions
- 9.300 Small business entity concessions
- 9.400 Accounting methods and transitional measures
- 9.500 Simplified trading stock rules
- 9.600 Simplified depreciation rules
- 9.700 Prepayments
- 9.750 Temporary investment allowance deduction
- 9.800 Entrepreneurs’ tax offset abolished
-
9.000 SBE framework
-
Chapter 10: Assessable income
- 10.000 Assessable income
- 10.100 Frequent flyer, reward programs & club benefits
- 10.200 Lump sum payments on termination of employment
- 10.300 Investment income
- 10.400 Interest
- 10.500 Rental income
- 10.600 Royalty income
- 10.700 Dividends
- 10.760 Other assessable income
- 10.800 Life policy bonuses
- 10.850 Employee share schemes
- 10.900 Exempt income
- 10.950 Non-assessable non-exempt income
-
Chapter 11: Capital gains tax
- 11.000 Capital gains tax
-
11.020 The CGT events
- 11.050 Step 2: Did the CGT event involve a CGT asset?
- 11.070 Step 3: Does an exemption or concession apply?
- 11.090 Step 4: Is there a capital gain or capital loss?
- 11.160 Step 5: Calculating the capital gain or capital loss
- 11.190 Step 6: Does a rollover provision apply?
- 11.200 Step 7: Maintain appropriate CGT records
- 11.250 Special CGT rules
- 11.300 Exemption for main residence
- 11.350 Joint tenants and tenants in common
- 11.450 Rolling over assets
- 11.455 Involuntary disposals
- 11.460 Marriage breakdown
- 11.465 Strata title conversions
- 11.466 Superannuation funds
- 11.468 Scrip for scrip rollover
- 11.470 Tax relief for demergers
- 11.472 Demutualisation
- 11.475 Business reorganisation
- 11.510 Asset transfers between certain group companies
- 11.515 Value shifting
- 11.525 Small business CGT concessions
- 11.535 Capital losses transferred within a wholly-owned group of companies
- 11.550 Partnerships and CGT
- 11.600 Trusts and CGT
- 11.650 CGT and estate beneficiaries
- 11.675 Listed investment companies and CGT
- 11.700 CGT and foreign residents
- 11.750 Leases
- 11.800 Investments: Shares, rights and options
- 11.840 Controlled foreign companies and CGT
- 11.900 Renewal or disposal of statutory licences
- 11.925 Liquidators’ distributions
- 11.950 Compensation
-
Chapter 12: General deductions
- 12.000 Checklist of employment-related claims
- 12.100 Substantiation
- 12.160 Travel expenses
- 12.220 CAR expenses
- 12.300 Work-related clothing
- 12.400 Superannuation deductions
- 12.500 Entertainment expenses
- 12.600 Home office expenses
- 12.700 Self-education expenses
- 12.800 Donations and gifts
- 12.900 Tax-related deductions
- 12.950 Carry forward tax losses
- Chapter 13: Business deductions
-
Chapter 14: Deductions for capital expenditure
-
14.000 Capital allowance write-offs for non-SBE regime taxpayers
- 14.010 Depreciation (decline in value)
- 14.020 Depreciation flow chart
- 14.030 Depreciating assets costing $300 or less
- 14.040 Low-value pool
- 14.050 Software development pool
- 14.060 Selection of depreciation method
- 14.070 Balancing adjustment events
- 14.080 Rollover relief for certain CGT events
- 14.085 Luxury vehicles
- 14.088 Leases of luxury cars
- 14.090 Primary production
- 14.100 Mining, infrastructure and environmental protection
- 14.110 Blackhole expenditure
- 14.160 Effective life tables for depreciating assets
- 14.180 Temporary investment allowance deduction
- 14.200 Capital works
- 14.500 Research and development
- 14.600 Environmental expenditure
- 14.700 Australian film investments
- 14.800 Capital allowance clawback
- 14.900 Tax breaks for green buildings
-
14.000 Capital allowance write-offs for non-SBE regime taxpayers
- Chapter 15: The personal services income rules
- Chapter 16: Investments
- Chapter 17: Rental income
-
Chapter 18: Superannuation
- 18.000 Superannuation: An overview
-
18.010 Contributions
- 18.015 Acceptance of contributions
- 18.020 Concessional (before-tax) contributions
- 18.030 Non-concessional (after-tax) contributions
- 18.040 Contribution caps
- 18.050 Excess contributions tax
- 18.060 Tax file numbers and superannuation
- 18.065 Reportable superannuation contributions
- 18.070 Types of contributions
- 18.080 Contributions made to non-complying superannuation funds
- 18.085 Form of contribution
- 18.090 Other amounts
- 18.095 Superannuation and fringe benefits tax
- 18.100 Superannuation entities and rules
- 18.250 Penalties
- 18.260 Splitting superannuation and family law
- 18.265 Superannuation and same-sex relationships
- 18.270 Superannuation and bankruptcy
- 18.275 Superannuation and insolvency administrations
- 18.280 First home saver accounts
- 18.285 MySuper
- 18.300 Taxing superannuation entities
- 18.500 Superannuation guarantee
- 18.530 Superannuation guarantee charge
- 18.560 Choice of fund
- 18.570 Portability
- 18.580 Small amounts of employer superannuation
- 18.590 Retirement savings accounts
- 18.600 Taxation of superannuation benefits
- 18.660 Rollovers
- 18.670 Departing australia superannuation payment
- 18.680 Terminal illness
- 18.700 Income streams
- 18.800 Non-complying superannuation funds
- Chapter 19: Retirement
- Chapter 20: Primary producers
-
Chapter 21: International taxation
- 21.000 Taxation of foreign income derived by residents
- 21.100 Taxation of non-residents
- 21.200 Double taxation agreements
- 21.300 Foreign exchange translation
- 21.400 Foreign income tax offsets
- 21.500 Conduit foreign income
- 21.550 Trust distributions to non-residents
- 21.560 Investment manager regime
- 21.600 Foreign hybrids
- 21.700 Thin capitalisation
- 21.800 Anti-tax-deferral regimes
- 21.900 Transfer pricing
-
Chapter 22: Goods and Services Tax: Overview
- 22.000 Overview of GST
- 22.100 Taxable supply
-
22.300 Input taxed supplies
- 22.400 GST-free supplies (Division 38)
- 22.410 Exports (Subdivision 38-E)
- 22.420 GST and travel
- 22.430 Health goods and services (Subdivision 38-B)
- 22.440 Education and childcare
- 22.450 Charitable activities (Subdivision 38-G)
- 22.460 Supply of a going concern (Subdivision 38-J)
- 22.470 Religious services (Subdivision 38-F)
- 22.480 GST on food (Subdivision 38-A)
- 22.490 Other GST-free supplies
- Chapter 23: Goods and Services Tax: Administration and special topics
-
Chapter 24: Fringe benefits tax
- 24.000 Fringe benefits tax: overview
- 24.050 FBT administration
- 24.100 Taxing fringe benefits
- 24.150 FBT and GST
- 24.200 FBT exemptions
- 24.250 Record keeping for FBT
- 24.300 Reportable fringe benefits
- 24.350 Car benefits
- 24.400 Car parking benefits
- 24.450 Loan benefits
- 24.500 Debt waiver fringe benefits
- 24.550 Expense payment benefits
- 24.600 Road toll and e-tag expenses
- 24.650 Housing benefits
- 24.700 Board and meals
- 24.750 Superannuation and FBT
- 24.800 Employees in remote areas
- 24.820 Residual fringe benefits
- 24.840 Living-away-from-home allowance
- 24.860 Property benefits
- 24.880 Airline transport fringe benefits
- 24.900 Entertainment
- 24.960 Tax-exempt body entertainment
- 24.980 Salary sacrifice arrangements
-
Chapter 25: Payroll tax
-
25.000 Payroll tax
- 25.010 Definition of wages
- 25.020 Allowances
- 25.040 In which jurisdiction is payroll tax payable?
- 25.050 Objections and appeals
- 25.060 Due date for returns
- 25.070 Grouping of employers
- 25.100 Payments to contractors
- 25.160 Reducing ‘amounts taken to be wages’
- 25.200 Apprentice wages, rebates and grants
- 25.300 Payroll tax rates and thresholds
- 25.340 Monthly payroll tax deductions
- 25.345 Deduction for interstate employers
- 25.350 Payments liable for payroll tax
-
25.000 Payroll tax
- Chapter 26: Land tax
- Chapter 27: Duties
- Chapter 28: Other taxes
Product information
- Title: The Taxpayers' Guide 2013 - 2014, 25th Edition
- Author(s):
- Release date: October 2013
- Publisher(s): Wrightbooks
- ISBN: 9780730304821
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