Tax Tip 383: How to Live Well Without Paying Income Tax

Discussion in 'Accounting & Tax' started by Terry_w, 9th Jan, 2022.

Join Australia's most dynamic and respected property investment community
Tags:
Page 2 of 2
  1. Paul@PAS

    Paul@PAS Tax, Accounting + SMSF + All things Property Tax Business Plus Member

    Joined:
    18th Jun, 2015
    Posts:
    23,555
    Location:
    Sydney
    Terry, I question if doubling understates the true benefit. I see some strategies which can be a multiple of 2, 3 or more

    1. Trusts and income splitting while preserving wealth from CGT traps
    2. Tax free super
    3. Refundable tax credits... personal and in super
    4. Using spouse or your adult kids low or 0% tax thresholds
    5. LOW rate tax on super beyond the $1.7m cap x 2
    6. Retirement investment sharing with a spouse
    7. Testamentary trusts
    8. Super death benefit planning
    and so many others

    People often question "financial planning" but I argue a failure to plan is a plan to fail. A FP does not need to manage any investments unless you want that.
     
    Paul@PAS, 12th Jan, 2022
    #21
    Baker and Terry_w like this.
Page 2 of 2