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Dealing with taxation problems and solutions.

Article by WealthSafe.

Date Published: 22 Feb 2023

Are You Fed Up With Paying Too Much Tax?

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 average Australian pays 69% tax
  • The average Australian works 1 day per week for the government alone in compliance and record-keeping work
  • You pay tax as a salary and wage earner known as PAYG.
  • You pay fringe benefits tax when your boss pays for your expenses.
  • You pay capital gains tax, which is payable when you sell an asset such as property or shares.
  • You pay GST when you buy and sell goods and services to people in your business.
  • You can even earn income in an overseas country, or have an investment that is growing in value, which you have never sold, and still be liable for tax.

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

Do you want to find out more?

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.

Please visit us at our Facebook page at for more interesting articles, training, and clever tricks to reduce your tax and protect your assets.

How Do I Get Help?

Complete our web form by clicking here to receive your complimentary copy of our book “Closely Held Tax Secrets of the Rich and Wealthy”.

Alternatively, complete the form by clicking HERE to organize a free no-obligation call from one of our specialists who’ll explore options to slash your tax and protect your assets.

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Tax Saving Assessment.

Wealth Safe

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