We’ve all heard the old saying “there is nothing more certain than death and taxes” and although we can’t claim to extend your life span we can certainly have a positive impact on the tax burden you face through your life. Tax is something all individuals have to pay, however there are numerous strategies to reduce the amount, thereby enhancing our financial lives for the better.
These can be simple adjustments to complex strategies depending on your circumstances.
At Finpro Group we work in concert with your chosen taxation and estate planning professionals to ensure you have the right strategies in place to reduce your tax burden through your working life and beyond.
There are many tax effective financial strategies including:
- Structuring the ownership of your assets tax effectively
- Tax effective investing for children
- Borrowing to invest
- Salary sacrifice and/or salary packaging
- Tax deductible contributions to superannuation
- Managing super contributions within the caps
- Super contribution splitting strategies
- Transition to retirement strategies
- Structuring or transferring ownership of insurance to make premiums more tax effective
- Maximising the CGT small business concessions
- Claiming tax back from your super fund upon death – anti-detriment payments
- Assisting with tax planning before, during and after you become an Australian non-resident for tax purposes