Mo Money #455 How to Get Tax Smart
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Jun 19, 2025 Discover essential tax strategies to maximize your income and avoid common mistakes! Learn the benefits of investing through trusts and companies, and how they compare to sole traders. Explore effective end-of-financial-year tactics to reduce tax bills with smart record-keeping. Dive into unique investment strategies like negative gearing and franking credits, tailored for Australia. Plus, uncover vital tax implications in property investments and the importance of proactive planning. Get ready to make smarter money moves!
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Entity Choice Affects Tax
- Different tax entities like individuals, companies, trusts, and super funds have different tax rates.
- Investing via entities like companies or super funds can vastly lower tax on investment income.
Tax Savings With Company Investment
- Earning $100k in personal name incurs $47k tax, but only $30k tax in a company.
- Using company structures can save thousands in tax yearly, accelerating wealth build-up.
Maximize Tax Deductions
- Know every tax deduction available and keep detailed records to maximize your refund.
- Review investments before June 30 to sell loss-making assets and offset capital gains.
