This is crucial in correctly calculating your total income, especially where unfranked and franked dividends as well as imputation credits are listed on dividend statements. Then there are depreciation allowances, negative-gearing strategies and income splitting opportunities, among other options, to take into account. As you can see, investments, and income or dividend dispersal can sometimes be complicated when it comes to tax minimisation so it may be wise to engage the services of a financial adviser or an accountant. Issues around the Capital Gains Tax when shares are sold can add another layer of complexity to the equation. Superannuation Self employed people intending to claim their super contribution as a tax deduction for the 2000-01 financial year must make their contributions before June 30.
Rebates also apply to superannuation.
A rebate is simply an amount of money the government reimburses after calculating your return. Enlisting the services of a tax agent or accountant does not absolve you of mistakes, omissions or over estimations. It s your signature at the end so the buck stops with you. Feedback from previous years suggests this method will continue to gain in popularity. And as with express submissions via Australia Post, electronic lodgements over the Internet usually means a faster refund, with a 14-day turnaround if all is in order.