Tax Planning

“If anybody in this country doesn’t minimise their tax, they want they their head read… Because, as a government, I can tell you, you’re not spending it that well that we should be donating extra.“ Kerry Packer – 1991 Senate Inquiry

You have the right to arrange your financial affairs to keep your tax to a minimum. This is often referred to as tax planning, or tax-effective investing. Tax planning is legitimate when you do it within the intent of the law.

Tax planning is a key element of wealth creation. Salary packaging, superannuation, investments and tax deductible debt can create significant tax savings. By structuring your finances more efficiently you can manage the amount of tax you pay.

Tax planning can involve:

• Maximising your after tax income
• Remuneration packaging (salary packaging)
• Capital Gains Tax (CGT) management
• Gearing
• Investing in shares that offer 100% franked dividends
• Borrowing to invest
• Small business and capital gains tax exemptions
• Superannuation strategies
• Generic tax planning advice