101 Ways to Save Money on Your Tax - Legally! 2025 - 2026

by Adrian Raftery

Overview

An essential guide that will help you minimise your tax bill and maximise your after-tax earnings

In 101 Ways to Save Money On Your Tax – Legally! 2025–2026, bestselling author Adrian Raftery — aka Mr. Taxman — shows you how to lower your tax bill and keep more of your hard-earned money. With the cost of living always on the rise, every dollar you can save counts. Get the most out of your taxable assets and (legally!) reduce your taxes.

101 Ways to Save Money On Your Tax – Legally! makes it easy to find and implement every deduction that applies to you. This handy guide, trusted by tens of thousands of Australians, takes the stress and confusion out of the tax season. Find out what you actually owe and lodge on time, with no mistakes.

Whether you're an individual, married couple, investor, business owner or pensioner, this guide will help you:

• Understand how your taxes have changed for this year
• Reduce your tax bill, potentially by $100s or $1000s
• Easily navigate work-related expenses, levies, shares, property, education, business expenses, family expenses, superannuation, and more
• Protect yourself against errors, audits, overpayments, and common tax traps
• Get the answers to frequently asked questions

Updated with all the latest tax legislation and thresholds, this 15th edition of 101 Ways to Save Money On Your Tax – Legally! is the comprehensive, authoritative and easy-to-follow guide that every Australian needs. Don’t pay more than you have to. Mr. Taxman is here to help.

Product Details

ISBN-13:	9781394328659
Publisher:	Wiley
Publication date:	06/04/2025
Sold by:	JOHN WILEY & SONS
Format:	eBook
Pages:	320
File size:	982 KB

Table of Contents

About the Author ix

How to Use This Book xi

Introduction xiii

Part I You and Your Family 1

1 Marriage 2

2 Income splitting 4

3 Dependant (invalid and carer) tax offset 6

4 Children 8

5 Payments for new parents 10

6 Child care 12

7 Low-income earners 15

8 Senior and pensioner tax offset 16

9 Other government benef its 18

10 Family breakdown 22

11 Death 24

12 Family trusts 26

Part II Your Employment 29

13 Car usage 31

14 Methods to claim car travel 33

15 Travel 35

16 Uniform 37

17 Home off ice 39

18 Other work-related deductions 42

19 Keeping those receipts 45

20 ATO hit lists 48

21 Redundancy 51

22 Working a second job 53

23 Salary sacrif ice 55

24 Fringe benef its 57

25 Living-away-from-home allowance 61

Part III Your Education 65

26 Claiming self-education expenses 66

27 Student loans 70

28 Austudy and ABSTUDY 77

29 Scholarships 80

30 School building funds 81

31 Education savings plans 84

Part IV Your Investment Property 87

32 Negative gearing 89

33 Interest 91

34 Depreciation and low-value pooling 94

35 Repairs and maintenance 98

36 Borrowing and legal expenses 100

37 Other rental property deductions 104

38 Foreign investment properties 106

39 Capital gains tax 108

40 PAYG withholding variation 111

41 Co-ownership of your investment property 113

42 Build-to-rent properties 115

Part V Your Shares 119

43 Dividends 120

44 Shares owned by low income earners 126

45 Borrowing to buy shares 129

46 Other share deductions 131

47 Capital gains tax on shares 132

48 Realising capital losses 134

49 Inheriting share portfolios 136

50 Share traders versus share investors 138

51 Rights and options 140

52 Employee share schemes 142

53 Share portfolios within self managed superannuation funds 144

54 Cryptocurrency 146

55 Non-fungible tokens 151

Part VI Your Superannuation 153

56 Contribution limits 156

57 Transfer balance cap 159

58 Downsizer contribution 162

59 Compulsory employer contributions 165

60 Salary sacrifice 167

61 Division 293 tax 170

62 Super co-contribution 172

63 Transferring foreign super 175

64 Self managed superannuation funds 176

65 Buying property within SMSFs 179

66 Gearing through a super fund 182

67 Accessing your super 184

68 Transition to retirement 187

69 Account-based pensions 189

70 Death benefits 190

71 Lost or unclaimed super 192

Part VII Your Business 197

72 Choosing the right business structure 198

73 Tax obligations 203

74 Record keeping 206

75 Deferring tax 208

76 Trading stock 210

77 Bad debts 212

78 Home-based businesses 213

79 Sharing Economy 215

80 Employing people 218

81 Single Touch Payroll 221

82 Tax concessions and offsets 223

83 Selling or closing down 228

84 Personal services income 230

85 Non-commercial losses 232

86 Division 7A loans by private companies 233

87 Franchising 235

88 Crowdfunding 237

Part VIII Miscellaneous 241

89 Overseas income 241

90 Getting a great tax accountant 244

91 Lodging your tax return 247

92 Amending returns and objecting to assessments 249

93 ATO data matching 252

94 Problems paying your tax 256

95 Estate planning 257

96 Private ancillary funds 263

97 Levies 266

98 Zone and overseas forces tax offsets 269

99 Tax-effective investments 271

100 Tax planning as a 365-day process 273

101 Just do it! 274

Glossary 277

Bibliography 295

Index 297