Tax Planning: Opportunities To Save Tax With Super Contributions
Tax Deduction Opportunities with Super Contributions There are some excellent tax benefits you can gain by making voluntary superannuation contributions. Generally, money invested in super is taxed at a lower rate than your personal income tax rate. How Concessional Contributions are Taxed Concessional (before tax) super contributions include employer super contributions made on your behalf, […]
Tax Planning: Trust Distribution Resolutions
Urgent for Trusts: Avoid extra tax with a Trust Distribution Resolution before 30 June 2024 All Trust Distribution Resolutions need to be completed before 30 June to avoid paying extra tax of up to 47% of Trust profits. If a Trustee of a Trust fails to make a resolution to distribute the income of the […]
Tax Planning: Using a Bucket Company to Save Tax
A “bucket company” can allow you to “cap” the tax on profits distributed by a trust to 30% or 25%. This is less than the individual top marginal rate of 47%! If you have a Discretionary or Family Trust that generates profits, then this strategy could benefit you. Below is an example of how a […]
Tax Planning 2019 – Minimising Your Tax
With the end of financial year (EOFY) approaching quickly, NOW is the time to discuss with us the actions you can take before 30 June to reduce your tax and grow your wealth. For 2019, key priorities are likely to be: Maximising superannuation contributions without exceeding the relevant caps Bringing forward deductible expenses Deferring taxable […]
