"Make it your ambition to lead a quiet life, to mind your own business and to work with your hands, just as we told you so that your daily life may win the respect of outsiders and so that you will not be dependent on anybody." - 1 Thessalonians 4:11-12
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
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How To Keep Records - Part 3
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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.
📌The 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.
📌 CENTRELINK - if you are receiving taxable payments from Centrelink, you can download a payment summary in their mobile app 👉 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.)
👌 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.
👌 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.
👌 Sample excel - DOWNLOAD(Excel will be updated to incorporate the changes announced in Budget 2020)
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
I have encountered in some forums people asking whether they will continue paying their contribution or not upon reaching the minimum required contributions; and some comments would suggest that they stop paying and invest to maximize the return. Yes, it can be done. It's like BTID (buy term insurance and invest the difference). Also, another reason why people discontinue paying their SSS contributions is because of the pension computation. They said that if you have been paying the minimum and instantly increased your payment to the maximum 5 years before retirement, you will get the same pension with the one paying the maximum. However, according to SSS, this is not true. One is not allowed to instantly increase it's contribution to the maximum 5 years prior to retirement. To understand more, SSS issued circular no. 2015-007. A) If below 55 years old , he/she can change without limit in frequency and in number of salary brackets in a given calendar year. B) If
Now that you have your DTI/SEC Registration and Mayor's Permit, you can now apply with the BIR. Since most small and medium businesses register as sole proprietorships, this blog will focus on them. Note: For those with TIN, make sure that the RDO where you are registering your business is the same where your TIN was registered. You can call the BIR contact center 981-8888 or trunkline 981-7000 and verify with them. If you are working and establishing a business in a different RDO, verify with BIR if there's a need to transfer. However, most cases are they will require you to transfer it to where your business is located as you have to file quarterly and annual income tax returns (1701Q/1701). Accomplish 3 copies of the following BIR forms and attached the requirements: Form 1901 - Application for Registration of Self-Employed & Mixed Income Individuals, Estates, Trusts. Photocopy the following attachments (bring the original just in case they ask for it): Any do
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