"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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Preparing Your Tax Return - Part 4
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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.
Now that you have a bit of understanding of how taxes are done here in Australia and how to keep records, it's time for you to prepare your tax return.
👉 Tax Return or Non-lodgement Advice
You have to determine first if you need to lodge a tax return or a non-lodgement advice. A non-lodgement advice is to let ATO know that you do not need to lodge a return for that year and also, you'll not have any outstanding return to be listed in the portal. Same with Centrelink, you need to inform them if you do not need to lodge a return so that they can balance your payments as soon as possible.
If you watched how I keep my records and have a lists on what you earned and deductions you want to claim, then it will be easy for you to compare figures from the prefilled and your supporting documents.
👉 During the year, did you have an interest - direct or indirect - in overseas assets worth $50,000 or more?
If you have an intention of staying here permanently make sure that you tick this if you have assets more than $50,000 even if you are a temporary resident.
The purpose of this question is to ensure that you are declaring properly your income and also to avoid questions that may cause penalty or taxes when you transfer money from overseas.
Make a list and put in their totals as of that FY. Example:
Cash in bank - BPI/BDO/MB/Unionbank
Real Property
Stocks
Government contributions - pag-ibig* (for sss, not sure how to value it since it is not withdrawable unlike pag-ibig. I think you can only claim it once you reach the retirement age. Will you able to do it even if you are not a Filipino citizen anymore? I believe so. You just have to declare it.)
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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