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Effective tax planning is fundamental to the creation and preservation of wealth.
Tax can create a significant drag on growing your wealth if you let the tax office have more than necessary. To minimise tax, you need to plan ahead and not wait until you have a tax liability before getting advice. By this stage, it is almost always too late to take action to reduce your liability.
There are a number of questions for which you need answers if you are going to plan your finances for tax-effectiveness.
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In whose name should you own your assets?
- Should you be using tax-effective structures such as super or a family trust to invest?
- What about negative gearing?
- Can you replace non-deductible debt with deductible debt?
- How does dividend imputation work?
- When is the best time to sell your investment assets?
- What is tax-loss selling?
- What else can you do to reduce the impact of capital gains tax?
Upon reviewing your personal circumstances, we will consider these and other tax-planning strategies when preparing your strategic financial plan.
Remember, thinking ahead is crucial to getting the best after-tax return on your investments.
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