My First Investing/Trading Books

When I was learning about investing in the stock market, I needed books for more information. There are a lot of free pdf on the web but the books that I like, I want to have a hard copy of it so that my children maybe can read it someday. Maybe that will be the legacy that I'll be leaving them. I want them to know money management as it is very important. If only I have known that when we were kids, maybe I have chosen a different path. So, I went to check the bookstore and EXPENSIVE!! I searched for online bookstores that offers affordable books like amazon and I found at about BOOK DEPOSITORY. These are my first books. Jesse Livermore's Methods of Trading in Stocks - Richard Wyckoff This was my first ever book about trading. It has only 32 pages and can be read in one sitting but full of information. It tells about how Livermore's preparation before and after trading, money management, news, stocks to trade and pyramiding.   How To Trade in Stocks - Jesse Li

How To Keep Records - Part 3

Disclaimer: We do not provide tax or accounting advice. This material has been prepared for informational purposes only and is not intended to provide, and should not be relied on for tax or accounting advice. You should consult your own tax and accounting advisors before engaging in any transaction. 

πŸ“ŒThe record-keeping exemptions provide relief from the need to keep receipts in certain circumstances. However, they are not an automatic entitlement or a "standard deduction" for everyone. While you don't need receipts for claims under $300 for work related expenses, $150 for laundry and 5,000 kms, you still have spent the money, it must be related to earning your income and you must be able to explain how you calculated your claim. - ATO

Generally, you must keep your written evidence for five years from the date you lodge your tax return.

For more information,

πŸ“Œ CENTRELINK - if you are receiving taxable payments from Centrelink, you can download a payment summary in their mobile app πŸ‘‰ Log-in to your account > More > Statements > Payment Summary (this will be available at the end of the fy. you can also see here income statements and deduction statements if you asked Centrelink to withhold tax on your payment.)

πŸ‘ To add a tax deduction in your Centrelink Payment, you can follow this or you can also do it in the mobile app.

For us, what I do is :

πŸ‘Œ Create a folder and name it as "Australia Tax Documentation", subfolders will consist of the financial years i.e. FY2018-2019, FY2019-2020 and so on. Under those years, create folders that consists of your supporting documents for that financial year i.e. payslips, banks (bank statements in PDF), stocks, super etc. Ensure that these documents are properly labelled to easily identify it.

πŸ‘Œ Create an excel and name it as "Tax Worksheet - FYXX". Well this is optional but since we do it DIY, this is very helpful for us.

πŸ‘Œ Sample excel - DOWNLOAD (Excel will be updated to incorporate the changes announced in Budget 2020)

πŸ‘Œ Tax calculator 

πŸ‘Œ Preview of what we do


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