There are numerous ways to legally minimise the amount of tax we pay throughout our lives and, in some cases, even after death via estate taxes. These range from fairly simple to quite complex strategies.
At AAS, we will work with your chosen tax agent and estate planning professional to ensure you have the right strategies in place in order to reduce the amount of tax you pay during life and at death.
Some taxation strategies that may be considered are:
- 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 by using the appropriate contribution caps
- Super contribution splitting strategies
- Transition to retirement strategies
- Managing tax on redundancy payments
- Structuring or transferring ownership of insurance to make premiums more tax effective
- Maximising the CGT small business concessions
- Maximising your estate by reducing tax paid by beneficiaries
- Assisting with tax planning in case you become a non-resident of Australia for tax purposes, or in case you are planning to return to reside permanently in the country after living and working overseas