Tax Is Unavoidable

Tax is inevitable and over the long term it can eat a small fortune out of everything we have earned.  

Since people who earn less pay less taxes, it makes sense to hold investments in the name of your spouse or partner if their earnings are relatively low compared to yours. The total taxes both pay will be considerably lower, and possibly saving thousands of dollars over a long period of time.

Claim every expense that you can. This includes phone bills, work related travel expenses, and even tax agent fees. This of course means diligently logging these expenses so an accountant can determine which will be of use but remember, if you don't ask if its claimable, how can you receive the tax benefit?

Investments in property allow one to claim all sorts of expenses.  Everything from agent fees, maintenance and repair costs, depreciation, and even interest on loans. However, just remember, you cannot claim expenses for periods where your property is not being rented or otherwise off the market. So it's important to get good tax advice from a qualified accountant.

At The Accountant Group, we specialise in tax minimisation strategies for all types of individuals and business with varying requirements. The above strategies are only a few of the available options out there, so talk to us today and let us help you find a solution to help you minimize the inevitable burden, which is taxation on income and investments!