Tax Planning = Tax SAVINGS
While its great to receive checklists and information about how to reduce your tax – it's a little like being handed an instruction video and then renovate your kitchen, replace the engine in your car, or operate on your cat. You can see how it's done but without training, it's difficult to do it efficiently or safely.
So while some of you may feel comfortable following the instructions – don't forget you can always talk to us as we are more than happy to look at your current financial situation and make suggestions on how you can reduce the amount of tax you have to pay.
Below are some scenarios our clients have brought to us, with our solution, and the tax saving received by the client when implementing our plan.
Tax Planning = TAX SAVINGS
Are you a High Income Earner not in Business?
It's great to earn good money; but do you feel like you are getting harder hit than others when it comes to tax? The problem is the way that the Australian tax system distinguishes between income from personal exertion and income from business activity and use of assets.
There are strategies available to help you make your money work whilst reducing your tax bill.
Who does this applies to?
- Doctors and Medical Specialists (not using a service trust arrangement)
- Professionals working as an employee
- High income earners deriving income from wages
- Anyone deriving high levels of personal exertion income
Tax Planning Strategies for High Income Individuals