How do I reduce my tax?

1. If you are starting a business, the number one way you will reduce your tax is by investing in the right structure at the beginning. 
2. Legally splitting your income within your family group by investing in the right structure. 
3. Invest. The 50% discount on capital gains means that the tax on gains is less than the tax you pay on earned income. 
4. Negative gear. The government helps fund your investment assets by refunding tax paid on negative gearing. 
5. Contribute to superannuation. Many people seem to have a negative view of super. One thing we know for sure is that our successful clients are maximising their superannuation contributions. 
6. This one is boring but essential. Keep good records and get it right.

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