FYI | Jul 27 2010
Shares & Taxation by Jimmy B Prince, Wrightbooks, 2010
By Rudi Filapek-Vandyck
Did you know that your gains from buying and selling equities are taxed differently if you are an "investor" or a "trader"? Well, you should because differences in tax also mean differences in returns.
It's just one of many things that stand out when reading Shares & Taxation, with the subtitle giving away what this book is all about: A practical guide to saving tax on your shares. Complemented with handy tax tips and potential traps, practical examples and useful references, this book is being presented (by the publisher) as a cheap alternative to instead having to rely on a registered tax agent who costs $250 per hour.
I am not as confident this book will avoid using such a registered tax agent, but it does help to know one's tax position and this book is a handy look-up guide that deserves its place on the bookshelf, at the very least.
The author, fellow of the CPA Jimmy B Prince, has experience in this type of publication, including writing Tax For Australians For Dummies. In 228 pages Prince touches upon issues such as Self Managed Super Funds, capital gains tax, dividends, tax for non-Australian residents, derivatives and tax, deductible expenses and many more items that could prove important at the end of each fiscal year.
Ideal for the DIY investor who also does his own taxes or for those who like to be able to ask more educated questions to their accountant or tax agent. There is lot of legal jargon involved, as one would expect, but Shares & Taxation reads like an honest attempt to keep complicated (and boring) matters simple and understandable.
At the end of the day, a book like this lives and breaths by its purpose and its usefulness. I think the author has achieved his goal. Want more proof? This book tops our current list of Top Ten Best Sellers (see below).
Recommended Retail Price: $32.95 (Interested readers can purchase at a discount via the FNArena Investment Shop, direct link: http://www.moneybags.com.au/default.asp?d=0&t=1&c=148&a=171)
For those readers looking to purchase the next investment book at a discount, we have lined up our Top Ten of Best Selling Books:
Shares and Taxation
Shares to Buy And When
Trading from Your Gut
Top Stocks 2010
Way of the Turtle
Trade Your Way to Financial Freedom
Catherine Davey CFD Twin Pack
Trading For A Living
Trading in the Zone
Secrets for Profiting in Bull and Bear Markets
For more information on these books/discounts available, see http://www.moneybags.com.au/default.asp?d=0&t=1&c=148&a=171
