Howdy
Hope everyone’s having fun in the lead up till Christmas, I know my workload has been close to double!
So I’ve decided to expand my knowledge of all things money, I do a bit of travelling each day and figured audio books were the way to go.
I’ve just finished listening to rich dad poor dad, One of the first ones I came across on the internet, he has some good points and I feel my G/F may benefit from his style of writing.
Seeing as almost everything is taxed these days, the next step would be to learn to minimize this.I don’t wish to be an accountant, but sometimes if you know the right questions to ask people you’ll get more from your responses, so I need to know the basics and maybe a wee bit more.
Where should I start?Thanks heaps
Denis
First place to start is making sure you are maximising any work-related deductions or deductible self-education expenses. Better still, if you are paying them can you negotiate for your employer to pay them.
Second, possibly julia Hartman's book on tax and property investment. Note that tax laws change constantly.
Third remember there are state taxes such as land tax and stamp duty. While these can't be avoided their impact can be minimised particularly land tax by buying in different states or names.
Fourth – ask questions. With tax it is best to ask them before you enter into transactions.
Hi crj
As yet the only expense for my education has been Steve’s book!
I’ve acquired the rest via free methods ( Yea I know, not good )
Does anyone know any accountants who need IT support
Not sure what the Boss would say about funding an economics course, I don’t think it wise to ask.
I’ll definitely look for the tax book you recommended.
Thanks for the help.Cheers.
Denis
Get a copy of all those free booklets from the ATO. Then get some basic tax books, liek Julia's mentioned above and then on to the more specialised stuff.
Basically, Without increasing your expenses try to make then business related so that you can claim them.
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
This may all change with the Henry tax review currently being summitted to the ATO .
Yes, it may, but what usually happens is the givt commissions these reviews and then ignores the findings. I beleive he is going to recommend abolishing stamp duty and instead increasing or changing the land tax system.
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Terryw wrote:Yes, it may, but what usually happens is the givt commissions these reviews and then ignores the findings.That's so true Terry. Especially in an election year.
Sorry, spelling mistake. Givt = Govt = Government.
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
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