Join Australia's most dynamic and respected property investment community

Lower tax

Discussion in 'Accounting & Tax' started by giswal22, 28th Sep, 2015.

  1. giswal22

    giswal22 Well-Known Member

    Joined:
    13th Jul, 2015
    Posts:
    51
    Location:
    Melbourne
    Is there a way that you can legally lower the amount of tax you pay on your property? Eg: setting them up in a trust. If you had a couple of properties, could you group them as a business?
     
  2. Terry_w

    Terry_w Solicitor, Finance Broker, CTA Business Member

    Joined:
    18th Jun, 2015
    Posts:
    9,045
    Location:
    Sydney
    Yes - claim all available deductions.
     
  3. Scott No Mates

    Scott No Mates Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    5,599
    Location:
    Sydney or NSW or Australia
    Consider the main game - are you looking at making $$ or not paying tax. These are not the same thing.
     
  4. giswal22

    giswal22 Well-Known Member

    Joined:
    13th Jul, 2015
    Posts:
    51
    Location:
    Melbourne
    Im moving overseas, i will hopefully have 3 IP's before i leave, i will be living and working there for a few years and was hoping to boost my income in that country with passive income from here but it may get chewed up in tax so i was sussing out ways to legally minimize the tax.
     
  5. Scott No Mates

    Scott No Mates Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    5,599
    Location:
    Sydney or NSW or Australia
    You will possibly lose your tax free threshold as you'll not be a resident for tax purposes.
     
  6. giswal22

    giswal22 Well-Known Member

    Joined:
    13th Jul, 2015
    Posts:
    51
    Location:
    Melbourne
    Yes that is exactly what will happen. Maybe the IP's will have to be set and forgets. Iremember reading kiyosaki talking about businesses getting taxed at lower rate and thought that could be an option