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Founder of Learn to Trade, Greg Secker’s investment journey began with him working in IT on a trading floor supporting the largest currency trader in London. With no real knowledge of finance and a $5000 gift from his mother, Greg entered the trading game and joins the Nestegg podcast to discuss his journey to success.

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Having previously joined the show to share how he is making a full-time income in only a few hours a week, Greg Morgan also joins host David Stratford to share how Learn to Trade set him on the path toward financial success, and why mindset and positivity is key to success as a trader.

The pair will explain why the current climate is the perfect time to be trading, explain the 5-2-1 rule and why it is so important, and reveal what the best investors are doing to cement their success.

You can keep up to date with what Learn to Trade are up to HERE

Have an investment story to share? Get in touch at [email protected] and you might get featured on the next episode.

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Wednesday, 20 November 2019

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‘Bizarre’ tax time claims revealed

By Katarina Taurian · April 21 2017

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‘Bizarre’ tax time claims revealed

By Katarina Taurian
April 21 2017

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‘Bizarre’ tax time claims revealed

By Katarina Taurian · April 21 2017

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Cigarettes and luxurious overseas holidays are just some of the things Australians have tried to get over the line at tax time, which is fast approaching for 2017.

Accounting franchise H&R Block did a sweeping survey of its offices after tax time last year to see what “bizarre deductions" Aussie taxpayers thought they were entitled to.

One taxpayer wanted to claim sunscreen and an umbrella, on the basis that his workplace forced him to go across the road to have a smoke break.

“He felt he needed an umbrella for the rain and sunscreen for sun,” H&R Block’s director of communications Mark Chapman said.

Another person tried to claim the cost of cigarettes, because he regarded smoking as a necessary form of stress relief from his job.

A hairdresser also tried her luck with travelling expenses. Usually, you can’t claim the cost of travel to and from work, unless you’re carrying bulky tools or equipment.

Her definition of bulky tools and equipment were scissors and clippers.

“They are certainly sharp, but they don’t qualify as bulky,” Mr Chapman observed.

A bouncer also seemingly over-estimated the scope of his work and tried to claim a martial arts course.

In an effort to “research his craft”, a tradesperson tried to claim a four-week holiday in Europe.

“All he came back with was pictures and he learnt a bit of French,” Mr Chapman said.

Although seemingly trivial, taxpayers can land themselves in hot water for trying to push such claims through.

One other classic area where taxpayers get it wrong is self-education expenses.

“The ATO looks very closely at self-education deductions,” Mr Chapman said.

“If the course is relevant to what your job is now, it is usually claimable, as a basic rule. If it’s something that is going to enable you to prosper in maybe more senior role later down the line, then you’re getting into some grey areas.”