{"id":3086,"date":"2016-07-05T01:07:19","date_gmt":"2016-07-05T01:07:19","guid":{"rendered":"https:\/\/raizinvest.com.au\/investors\/tackling-tax\/"},"modified":"2024-04-04T18:37:50","modified_gmt":"2024-04-04T18:37:50","slug":"tackling-tax","status":"publish","type":"post","link":"https:\/\/raizinvest.com.au\/investors\/blog\/tackling-tax\/","title":{"rendered":"Tackling Tax"},"content":{"rendered":"<p><img class=\"aligncenter size-full wp-image-5232\" src=\"https:\/\/raizinvest.com.au\/investors\/wp-content\/uploads\/2016\/07\/tackling-tax.png\" alt=\"person working on table\" width=\"1050\" height=\"520\" srcset=\"https:\/\/raizinvest.com.au\/investors\/wp-content\/uploads\/2016\/07\/tackling-tax.png 1050w, https:\/\/raizinvest.com.au\/investors\/wp-content\/uploads\/2016\/07\/tackling-tax-640x317.png 640w, https:\/\/raizinvest.com.au\/investors\/wp-content\/uploads\/2016\/07\/tackling-tax-1024x507.png 1024w, https:\/\/raizinvest.com.au\/investors\/wp-content\/uploads\/2016\/07\/tackling-tax-320x158.png 320w\" sizes=\"(max-width: 1050px) 100vw, 1050px\" \/><\/p>\n<p>The new financial year has begun,<br \/>\nand the tax-man is knocking at your door again. Here are some key tips to send<br \/>\nhim on his way with a smile:<\/p>\n<p>Ensuring you have all the<br \/>\naccurate information makes the tax return process that much smoother. Before<br \/>\nyou start, make sure you have all that paperwork ready to go. Hopefully you\u2019ve<br \/>\nkept all necessary information\u00a0<em>very organised<\/em>\u00a0throughout<br \/>\nthe year\u2026<\/p>\n<p>Some of the key documents you\u2019ll<br \/>\nbe needing are:<\/p>\n<p><strong>Your Income:<\/strong><\/p>\n<ul>\n<li>Payment summaries<\/li>\n<li>Bank statements<\/li>\n<li>Shares, unit trusts or managed funds statements<\/li>\n<li>Buy and sell investment statements<\/li>\n<li>Records from your rental property<\/li>\n<li>Foreign income details<\/li>\n<\/ul>\n<p><strong>Your Expenses:<\/strong><\/p>\n<ul>\n<li>Private health insurance policy statement<\/li>\n<li>Donation receipts<\/li>\n<li>Educational records and receipts<\/li>\n<li>Investment property receipts<\/li>\n<li>Your spouse\u2019s income and expenses<\/li>\n<li>Union membership<\/li>\n<li>Work related expenses<\/li>\n<\/ul>\n<p>Deductions are awesome. They<br \/>\nallow you to claim work-related costs against your tax, these can include sun<br \/>\nglasses, computers, vehicles etc. Although, one must remember that these<br \/>\nexpenses must be:<\/p>\n<p><strong>Real\u00a0<\/strong>\u2013 you must have spent the money<br \/>\nyourself for the product or service<\/p>\n<p><strong>Relevant\u00a0<\/strong>\u2013 they must be related to your<br \/>\njob<\/p>\n<p><strong>Recorded\u00a0<\/strong>\u2013 in the form of a receipt<\/p>\n<p>The ATO has some good info on <a href=\"https:\/\/www.ato.gov.au\/Individuals\/Income-and-deductions\/Occupation-and-industry-specific-guides\/\"><span style=\"text-decoration: underline;\">possible tax deductions based on your occupation<\/span><\/a>.<\/p>\n<p>As a Raiz investor, any realized<br \/>\ncapital gains\/losses through Raiz will be tax liable. \u00a0We will produce an<br \/>\nannual tax statement for all investors by the end of July. These statements<br \/>\nwill contain all details necessary for filling your tax returns.<\/p>\n<p>If you have any further<br \/>\nquestions about your tax statements please do not hesitate to email the<br \/>\nInvestor Success Team at\u00a0<a href=\"https:\/\/t.umblr.com\/redirect?z=mailto%3Asupport%40acornsgrow.com.au&amp;t=NzIxNDljZDA1M2UxMjQ1NGRiNjEzM2I4N2QxOGVjMGFlZWYzNzBlNSxzWEp4U1k4UA%3D%3D&amp;b=t%3AOT5SRNIB-0FrnV9PtrNUnA&amp;p=http%3A%2F%2Fblog.acornsau.com.au%2Fpost%2F146922147790%2Ftackling-tax&amp;m=1\">support@Raizinvest.com.au<\/a>\u00a0or alternatively call us on<br \/>\n1300 754 748.<\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: normal !msorm;\"><strong>Important Information<\/strong><\/span><\/p>\n<p>The information on this website is general advice only. This means it does not consider any person\u2019s investment objectives, financial situation or investment needs. If you are an investor, you should consult your licensed adviser before acting on any information contained in this article to fully understand the benefits and risk associated with the Raiz product.<\/p>\n<p>The information in this website is confidential. It must not be reproduced, distributed or disclosed to any other person. The information is based on assumptions or market conditions which change without notice. This will impact the accuracy of the information.<\/p>\n<p>Under no circumstances is the information to be used by, or presented to, a person for the purposes of deciding about investing in Raiz.<\/p>\n<p>Past return performance of the Raiz product should not be relied on for deciding to invest in Raiz and is not a good predictor of future performance.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The new financial year has begun, and the tax-man is knocking at your door again. Here are some key tips to send him on his way with a smile: Ensuring you have all the accurate information makes the tax return process that much smoother. Before you start, make sure you have all that paperwork ready [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mi_skip_tracking":false},"categories":[1],"tags":[],"yst_prominent_words":[]}