Did you know that:
- If you have your salary banked you may be entitled to claim a tax deduction for bank fees and charges on your bank account?
- Airline industry employees may be able to claim a tax deduction for telecommunications equipment?
- Journalists may be entitled to a tax deduction for Internet access?
- Employee truck drivers may be able to claim a tax deduction on sleeping bags?
How is that wealthy members of the community, who own massive assets and earn seemingly enormous incomes, pay so little tax?
If these wealthy individuals can minimise their tax burden and still operate within Australian tax laws, then there is potential for the everyday wage earner to do the same.
In Making Tax Laws Work for You
, Rodney Fisher arms you with the basic knowledge you need to ensure that you are complying with the tax law but at the same time paying no more tax than you need to.
In plain, straightforward language, he presents the more significant aspects of tax law and provides a concise understanding of what is required under Australian tax laws and rulings. While tax laws are complicated and ever changing, you can benefit from a practical understanding of the basic concepts on which the tax regime is built.
This book is relevant for individual taxpayers, and taxpayers who are in business, whether as a sole trader, partnership, trust, company or a combination of these. Each chapter clearly presents the details you require for a particular area of taxation then goes on to provide practical advice in the form of concise tax tips, comprehensive checklists of deductions and suggestions on how to use them to your best advantage.
At last, you too can become serious about making tax laws work for you and ensure that you're making the most out of minimising your next tax bill.