Financial Foundations

Taxation Planning

taxation planning

There are many aspects to consider when thinking about taxation. These may include dealing with investment losses, increased profits, selling a capital asset or any other issue that has occurred during the financial year. Through careful planning and legitimate tax strategies, you may be able to significantly reduce your tax liability.

Depending on your individual circumstances, appropriate strategies to reduce your income tax may include salary sacrificing/packaging, maximising tax deductions by keeping good records, getting the right ownership structures in place before purchasing assets (such as joint ownership, a company, trust or self managed super fund), investing in tax-effective investment vehicles and asset classes, tax-efficient use of debt and taking out income protection insurance.