Is there anyone who likes paying tax?
Income tax, company tax, payroll tax, GST, FBT, CGT, stamp duty, rates. It can seem endless. Unfortunately, we can’t avoid paying tax. But we can manipulate how much tax we have to pay.
While Australia’s tax system is complex, the tax laws do allow us to structure our affairs in a way that minimises the amount of tax we pay.
When it comes to being Financially Well Organised, it’s vital to have a strategy to pay the least amount of tax possible. Why reduce cash flow to do the things you really want to do – like meeting your personal and financial goals – when you don’t need to?
Your taxation plan should align closely with your Estate and Asset Protection Plans as the structure of assets and how they are owned and distributed can significantly reduce the amount of income tax and capital gains tax you pay.