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How To Pay Less Taxes, Legally!.

Article by WealthSafe.

Date Published: 4 Nov 2019

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Don’t want to end up here? Learn how to pay less taxes legally 

It’s my passion in life, my personal mantra and motto to show people how to pay less taxes legally. A decade of being one of the “bad guys”, a tax auditor for the ATO, has given me nothing but a renewed passion to reduce the tax burdens of Australians everywhere. 

Most people assume that the ATO are a bunch of bumbling fools that couldn’t find their feet with a map. I don’t assume that. After working there for ten years, I know it. And if you’re convinced that the Australian government is a bunch of gold-digging predators, why would you want to give them more of your money? 

Can You 100% Legally Avoid Paying Taxes?

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Absolutely! 

It’s not only possible. It’s highly recommended. 

Each year, the Australian Taxation Office releases statistics about the 14+ million tax returns they receive each year. To my nerdy brain, this is like Christmas in July.

According to a recent Guardian article, there is an interesting trend that the rich are paying less tax than they ever have before. Through legal strategies and procedures, there are several millionaires that have even managed to pay $0 in taxes on their income, an increase again from previous years. Thousands of high-income earners learned how to pay less taxes legally, getting their reported income below the tax-free threshold of $18,200.

In another article posted by the Sydney Morning Herald, Peter Martin reported that of the 56 top earners (making an average of $2.3 million each), only 2 actually paid income tax.  

Some of the interesting points to take note of are that these ultra-wealthy tax avoiders use tactics like claiming negatively-geared property, reporting losses, and establishing offshore foundations and entities. They all highly value the assistance of a tax accountant to set up structures that enable them to do this, 100% legally. We can use these high-income earners as a way to model what you should do with your own tax, also completely legal and within the parameters of the Australian tax law.  

But what I want to point out is that the wealthy have a vested interest in protecting their wealth. The bottom line is that they care more than the average Australian about legally paying less taxes. But the strategies and techniques they employ aren’t exclusively for them. 

“People who complain about taxes can be divided into two classes: men and women.”

Anonymous

They are for you too. You can take steps to protect your wealth and learn how to pay less taxes the legal way.

Or you can keep throwing money at the government, living in a fairytale land that they’re being responsible with all that money.  It’s up to you.

Simple(ish) Steps to Legally Paying Fewer Taxes 

  1. Create Tax-Efficient Structures 

Learn the Secrets of How To Legally Pay Less Taxes

The following strategies are used by individuals, but there are several more techniques and strategies related to property, business, spousal and family contributions, retirement and estate planning, self-managed super funds, and that’s just locally. We haven’t even broached the subject of international tax laws and ways to position your wealth using the advantages of other countries. 

And who am I? I’m Warren Black, and I know both sides of the tax law, both as a lawyer/accountant as well as a business owner and an investor. I know what it’s like to make money only to have the government come up to me with their hands out for the very cash that I worked hard to make. I also know the taxation laws both locally and internationally so that I can help you keep more of your money and protect your assets. 

But I’m not about defrauding the Tax Office. Although I’ve dedicated my life to helping people avoid paying taxes and keeping more of their own money, I do it through legal and ethical means. When the Panama Papers were leaked with the financial records of some of the richest people in the world, I was named and interviewed for my involvement. As you can see in this article, I was the only Australian named that was shown to have no ”illegal behaviour or wrongdoing”. All my methods are legal and compliant with Australian tax laws. 

When you connect with us, I can show you how I save my clients hundreds of thousands of dollars by setting up offshore structures, advising how to properly use their family trusts and bucket companies, and even advise on becoming a non-resident of Australia to legally cut tax bills to zero. My clients are listed on the Financial Review Rich List and we can model their secrets to cut your tax bill as well.

For your free strategy session and assessment, fill out the form to that right and talk to us today.   

Book Your Free
Tax Saving Assessment.

Wealth Safe
 

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