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  • #970720
    ribbit
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    Hi
    Recently moved to Australia so not 100% sure of all tax laws etc.
    However if I were to have an income of A$ 1million I would have a tax bill of ~A$ 450
    I like to pay taxes -it makes me sleep easy.
    But I would prefer to buy a business / property / shares etc instead of paying the tax.
    Ideally this would be set up in a Familiy Discretionary Trust (my income / assets / future assets ) to pass on to my children.

    So the question – would the purchase of a business / property or shares reduce my tax bill.
    Here is hoping to have to deal with this kind of problem!!

    #1045722
    Warren Cottis
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    Dear Ribbit

    Based on the limited information you have supplied the answer is “no”

    #1045723
    Alan Maddick
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    Yes there are plenty of ways to minimize your tax bill using various investment strategies. If you are earning that sort of money then get yourself to a good financial adviser and a good tax adviser ASAP and they will sort you out with a range of options to minimize your tax

    #1045724
    Warren Cottis
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    SmallBusinessWorks, post: 56063 wrote:
    Yes there are plenty of ways to minimize your tax bill using various investment strategies. If you are earning that sort of money then get yourself to a good financial adviser and a good tax adviser ASAP and they will sort you out with a range of options to minimize your tax

    Hi Alan

    Would you describe a few of them please besides negative gearing?

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