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Investor tax return masterclass ft. ATO Assistant Commissioner

This conversation with the ATO covers what you need to know as an investor when completing your tax return at the end of the FY23/24 financial year.

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Do you pay tax in Australia?

This conversation provides an overview of what you need to know as an investor when completing your tax return at the end of the FY23/24 financial year.

Kate Campbell chats with Rob Thomson, Assistant Commissioner from the Australian Taxation Office. This episode covers all the basics you need to know this tax time straight from the regulator.

💸 Remember the three golden rules for claiming a work-related expense.

  • You spent the money yourself and weren’t already reimbursed
  • The expense directly relates to earning your income
  • And you have records – like receipts – to support your claims.

🖥️ Timestamps from the YouTube version

  • 01:39 Role of the ATO
  • 05:11 DIY vs accountant
  • 07:57 Help – I made a mistake!
  • 08:59 Processing time
  • 09:29 Getting ATO scam calls
  • 10:49 Declaring your income
  • 12:54 Tax deductions you can claim
  • 15:46 Work-from-home deduction methods
  • 20:11 Office equipment
  • 20:57 Medicare levy
  • 23:53 Capital Gains Tax (CGT)
  • 25:03 ETF Distributions
  • 25:26 Capital Loss
  • 27:02 CGT Discount
  • 28:46 Rental properties
  • 32:07 Crypto tax issues
  • 34:31 Tax tips for new investors
  • 36:41 Helpful ATO tax time resources

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