Common Tax Planning Strategies Explained: A holistic approach to tax efficient wealth building. Travis Morien Compass Financial Planners Pty Ltd 08 9332 0544 http://www.travismorien.com. Basic principles.
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08 9332 0544
* Medicare levy of 1.5% may also apply
An employer can only package a limited amount of income into superannuation and claim a tax deduction on it. This limit is called the Age Based Limit, and the maximum contribution on which deductions can be claimed is called a Maximum Deductible Contribution (MDC).
* Self employed and unsupported people can claim a tax deduction on 100% of the first $5,000 contributed and 75% of the balance. Employers can claim a 100% tax deduction on all contributions for their employees up to the employee’s age based limit.
You can income split by investing in the name of a person on a lower marginal tax rate or, provided you have sufficient investment income to make paying the extra accounting costs worthwhile, you can invest via a discretionary trust that allows you to decide every year who gets income and capital gains distributions.
The most popular type of agribusiness scheme, and arguably the least risky, is eucalyptus tree farming. There are longer term projects (about 20 years) where the wood is grown for sawlog timber and veneer, and medium term projects (just over 10 years), where the wood is grown for chipping for the production of paper.
This sector does in fact receive a high degree of government support, as it presents a more environmentally friendly alternative to logging native forests and creates valuable export revenue and employment in rural areas.
Disclaimer: superannuation, high income investors can pay a significant amount of super contributions surcharge.
The material in this presentation does not represent a recommendation of any particular security, strategy or investment product. The author's opinions are subject to change without notice. Information contained herein has been obtained from sources believed to be reliable, but is not guaranteed. This article is distributed for educational purposes and should not be considered investment advice or an offer of any security for sale. Investors should seek the advice of their own qualified advisor before investing in any securities.