My First Investing/Trading Books

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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

Preparing Your Tax Return - Part 4

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.

To know whether you need to lodge a return or not, you can use this calculator - https://www.ato.gov.au/Calculators-and-tools/Host/?anchor=DINTL&anchor=DINTL/questions#DINTL/questions


👉 DIY or Tax Agent

If you need to lodge a return, you have to know whether you'll do it yourself or a tax agent.

If DIY, ATO has some helpful videos that can assist you via myTax -  https://publish.viostream.com/play/c-nzjherk

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.

You can refer here for on how to use myDeductions - http://ato.gov.au/General/Online-services/In-detail/myDeductions/Using-myDeductions/.

👉 Non-lodgement Advice

ATO

  • You have to log to mygov and click ATO
  • Head to TAX > Lodgements > Non-lodgement advice then follow the instructions

Centrelink

👉 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.)
VUL or ILPs (investment market value)


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