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[eBook] 'The Ultimate Tax Deductions Guide for Australians / Office Workers' - $17 (15% off) @ Smart Tax Deductions

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[eBook] 'The Ultimate Tax Deductions Guide for Australians / Office Workers' - $17 (15% off) @ Smart Tax Deductions
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walugi on 31/10/2020 - 13:27 smarttaxdeductions.com.au (1553 clicks)
fb15

Similar to the previous deal which is now expired, I found an old code on their FB page for 15% off so it's a dollar more expensive compared to previous.

https://www.ozbargain.com.au/node/571784#comment-9543323

The FB code is a few months old so not sure how long it'll stay up for but…

Tax is due TODAY for anyone else who nearly forgot. I bought and used the guide today, now waiting for my return from the ATO to waste on ozbargain.

PS Also stumbled upon a review on Reddit for the guide. Apologies on mobile so don't have the link handy but it might be worth a read if you are on the fence. The sample pages on the site give you a decent idea of what it's about anyway.

Happy deductions all

Financial eBook Tax Tax Deduction

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closed Comments

  • Fatboy74 on 31/10/2020 - 13:29
    +8

    Can you claim the cost of this book as a deduction “managing tax affairs”?

    • LongJohn92 on 31/10/2020 - 13:44
      +7

      Yes. In the FAQ

      Is the cost of this guide deductible?

      Yes! You can deduct the cost of this guide under Managing Your Tax Affairs in myTax.

      • peterpeterpumpkin on 01/11/2020 - 14:10
        +1

        Can someone that read the book (that's pretty much an accountant now) tell me if a book such as this sells for $500 and I give the author an entertaining poem tailored to help at tax time (that I normally sell at $500) in exchange, can we both now deduct $500 in tax affairs expenses due to ATO's bartering regulations? I know you can't exaggerate prices but we're both Udemy-level professionals. And if necessary, assume I'm a registered accountant and the poem delivers factual tips.

        • Thazza on 01/11/2020 - 16:34
          +1

          Sure, but it'll a NIL net position for you both - assuming the market value is reasonable.

          i.e.

          Income: $500 for the book
          Expense: $500 for the purchase of the poem.

          and

          Income: $500 for the 'sale' of the poem
          Expense: $500 for the purchase of the book

          • furyou on 02/11/2020 - 22:00

            @Thazza: In america tho somehow that tat's exactly how they work
            "donate 10k worth of services"

            Income: nada
            Expense: 10k imaginary donation

            net: 10k tax deduction.

            Does ppp come from usa?

  • Crownanchor on 31/10/2020 - 13:30
    +1

    Is this any good? Is it just the normal deductions? Does it cover if you have a private business?

    • walugi on 31/10/2020 - 13:58
      +1

      Nah no private business stuff. For individuals working a PAYG job I'd say

  • Feeblely on 31/10/2020 - 13:32
    +6

    Due today, but can submit online on Monday.

  • Matt P on 31/10/2020 - 13:36
    +5

    review that OP was talking about https://www.reddit.com/r/AusFinance/comments/iohsn1/review_t…

    • walugi on 31/10/2020 - 14:00

      Yeah that's the one, cheers. The review is helpful but sorta moot, the sample content gives a pretty clear idea of what it's about and is probably the better indicator imo

  • YasimKudomi on 31/10/2020 - 14:09
    +1

    How do I know that it's smarter than my mistress?

  • w37hsyea on 31/10/2020 - 14:31

    Legit book. Thanks.

  • sharetrader on 31/10/2020 - 15:30
    +5

    I borrowed this book "101 Ways to Save Money on Your Tax - Legally! 2020 - 2021" from the local library - free!
    https://www.amazon.com.au/101-Ways-Save-Money-Your-ebook/dp/…

    It covers everything you need unless you've got very complicated tax affairs. Also saves time searching for all the relevant info on the ATO site or using this free service: https://www.servicesaustralia.gov.au/individuals/services/fi…

    • emgee on 01/11/2020 - 11:01

      Nice. Our library is still waiting for the physical copy and no eBooks unfortunately.

      If I have a 2018-19 copy, does anyone know if it’s worth buying the latest version too? As in, any significant updates worth $17? :)

  • Tgb on 01/11/2020 - 07:20

    ^^ this. Posted in the last deal too. Would be good if anyone has read both to compare…

  • RogerLoger on 01/11/2020 - 10:41

    ATO is not trying to hide anything so it seems unlikely the book will cover anything not freely available.
    You'd need to provide a substantial free sample to convince me to spend my hard-earned cash and the sample would need to include something that indicates the information would actually be worthwhile. Most of us working in larger organisations have a good idea what is deductible via word-of mouth at work. We can (and should) verify deductions using the ATO website, whether the information comes via word-of-mouth or your book.

    How is the book better than the following?
    https://www.ato.gov.au/Individuals/Income-and-deductions/Ded…

    • XabiFernando on 01/11/2020 - 14:41
      +1

      The reddit review linked above deals with your question quite well.

      The ATO doesn't deal very well with grey areas (understandable given they don't want to open a deductions can of worms) while this book is a bit more liberal in that regard.

  • capslock janitor on 01/11/2020 - 11:24
    +2

    Tax is due TODAY for anyone else who nearly forgot.

    OH FFFF!

  • Scotlandgee on 01/11/2020 - 12:43

    This interests me to have a read, but as part of the “silent majority”, there is likely to be minimal impact. Maybe if I’m earning half a mil, with several businesses will I need a complicated trust account and offshore account. Otherwise, I’ll claim my bare essentials and not stress that I could be paying less tax. Truthfully I’m better off saving money, investing in equities and controlling my spending on discretionary items. Just my thoughts.

    • XabiFernando on 01/11/2020 - 14:39

      Why not save money, invest in equities, control your spending and be tax-efficient?

      • Scotlandgee on 02/11/2020 - 14:31
        +1

        Yes ultimately you’re right. I’m currently tax efficient, but perhaps not 100%. My point being is that extra 20% will not result in a huge return, but I take your point that it’s worthwhile nonetheless

  • Nom on 01/11/2020 - 15:51

    I haven't read this book, but you can only claim a tax deduction for something that "must directly relate to earning your income".

    Most "normal" office workers, won't be spending anything on earning their income.
    Your employer will usually provide you with a phone and laptop, the only things you're usually (reasonably) expected to provide yourself is possibly travel expenses between workplaces (though even then you can often claim these costs from your employer, use pool vehicles or hire cars at your employer's expense, etc) and maybe a tiny bit of laundry expense / business attire if you need to wear a uniform / suit.

    What else would you be spending money on, instead of your employer providing it ?
    Noting that you can't claim your commute, there's not much left to write a whole book about 🤷

    The short version is : if you're having to stump up your own money for work costs, then you should be offloading them to your employer ! Not paying them from your own pocket and then claiming back just a third of the cost as a tax refund…

  • w37hsyea on 02/11/2020 - 15:41
    +1

    ^Doesn't work like that if your employer isn't interested in paying for anything - let alone education, WFH costs etc.
    You generally have to purchase everything yourself. This book is incredibly useful - as it helps you understand all the items you wouldn't generally assume are actually claimable.
    It then helps you make the calculations based on ATO specifications.

  • lordra on 22/11/2020 - 17:39

    Cheers OP, just got it, code still works.

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