If you’re fed up with paying too much tax, you’re not alone.
Tax is payable if you live, die, or whatever. Whether you own a small business, have a job, own a large business, a company, a trust, a superannuation fund, and even a not-for-profit organization, you cannot escape it. We pay high taxes in Australia.
I think we’re all sick and tired of paying too much tax. Consider this:
The key is to work with people who can help you to structure things properly. This is what the rich do to ensure they pay as little tax as they have to.
The rich use trusts, for example, to split income. Splitting income is a very powerful way to minimize your tax very quickly. Splitting it to a low-income partner, or to a charity, or private foundation, or bucket companies, are all ways you can quickly and legally reduce your tax.
The rich also put money into superannuation. You can build long-term wealth in a low-tax environment, and the benefit of this is more than you expect.
Take the example below of a person who has $100,000 to invest and can make 20%, and needs to choose between a structuring method:
46.5% tax $ 841,920.58 As a high-earning individual
30% tax $ 1,618,027.01 Using a company/trust
15% tax $ 2,925,766.91 Using an SMSF and waiting until 60
0% tax $ 5,282,753.06 Living overseas in a tax haven permanently
At Wealth Safe, we help you with your offshore tax minimization, asset protection, and Australian tax planning solutions.
We help you find the best strategy to keep your assets safe, slash your tax 100% legally, and put more money in your pocket.
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