Lower tax

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

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  1. giswal22

    giswal22 Well-Known Member

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    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 Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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    Yes - claim all available deductions.
     
  3. Scott No Mates

    Scott No Mates Well-Known Member

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    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

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    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

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    You will possibly lose your tax free threshold as you'll not be a resident for tax purposes.
     
  6. giswal22

    giswal22 Well-Known Member

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    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
     

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