Archive for the 'Taxation Information.' Category



What is an Asset?
It is surprising how some people are not entirely sure what an asset is.
Generally it is anything of value apart from the home you live in.
This is usually used either for taxation purposes or asset testing for pension entitlements.
They include:
-cars,boats,caravans.
-house contents and personal effects.
-super,bank accounts,investments,loans.
-surrender value of life insurance policies.
-other real estate,farms,businesses.
-gifts [...]

Offshore voluntary disclosure
The Tax Office is encouraging people to come forward and make disclosures of undisclosed income from offshore activities.
We are increasing our audit activities in cases where people may try to conceal income and assets offshore in tax havens.
Taxpayers who contact us before they are the subject of an audit and make a full [...]

Gifts of shares valued $5,000 or less
From 1 July 2007, if you make a gift of listed shares valued at $5000 or
less that you acquired at least 12 months earlier, you could be eligible
to claim a deduction.
This fact sheet explains the requirements for such gifts to be tax deductible.

Here is some taxation information for those of you who invest in “Listed investment companies”(LIC) It pays to know the taxation rules,otherwise you could end up either paying too much tax or which is worse not claiming what you are entitled too.
Listed investment company (LIC) dividends
From 1 July 2001, if a listed investment company [...]

Tax Return Basics.
The time has come. It’s the end of the financial year so you’ll need to start getting your receipts and bank statements in order in preparation for your tax return. Here are a few pointers when compiling your tax return:
Income tax is charged on the taxable income of the individual or [...]

This information is an excerpt from the Australian Taxation Office. For more information please click on :-
ato
HOW CAPITAL GAINS TAX AFFECTS SHARES AND UNITS.
For CGT purposes, shares in a company or units in a unit trust are treated in the same way as any other assets.
As a general rule, if you acquired any shares or [...]

Due to many requests I have just added a “NEW CATEGORY” called “Taxation Information”In this section you will find all the basic forms you will need to keep accurate records.They are easy and self explanatory. You can adjust the forms to suit your own particular requirements.It will be fully up and running [...]






	
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