Tax Minimisation

Nobody wants to pay more tax than they need to pay. That is a fact of life.

 

Minimising your tax liabilities frees up money to achieve other important goals in your life like family holidays, paying for children’s education and saving for your retirement.

 

There are many ways to minimise your tax including:

• Holding growth assets for more than 12 months

• Making contributions to superannuation

• Borrowing to invest

• Purchasing an investment property

• Purchasing investments in the right name / structure

• Distributing income to other family members (if available)

• Making sure you are claiming all available tax deductions

• Timing the sale of assets

• Depreciation of assets

• Making donations to charity

• Pre-paying income related expenses.

 

At Hodgson Financial Planning, we discuss the above topics with you and work closely with your Accountant to ensure you receive the best taxation advice. If you are interested in minimising your tax liabilities, please contact David at Hodgson Financial Planning on 0401 936 224 or admin@hodgsonfinancialplanning.com.au