Apart from their mortgage, tax is often the single biggest expense most people pay throughout their lifetime; so why do the majority of us just accept it? Isn’t it time to explore strategies and options to maximise your income? Unless you’ve worked with a financial advisor you probably learned about tax from people who grew up at a time when tax was fixed; fortunately that’s no longer the case.
There are many strategies to make your tax more effective and so make a real difference to you and your family’s life, in both the short and long term.
There is no magic bullet
Every person and their family circumstances are different, which is why at Jennings Financial Services our skilled and experienced financial planner will work with you to achieve your financial goals. To give you an idea of what’s possible, here is a list of just some of the available tax minimisation solutions:
- Pre-tax strategies such as superannuation, salary packaging and leveraging into growth assets
- Transition to retirement – for eligible people over 55 yrs, see the section on retirement and super
- Personal risk insurance owning an personal risk insurance policy can significantly impact the after tax cost of the premium
- Small Business Ownership if you own and or run a small business this too can have a significant impact on taxes paid while in the business. Make sure you structure your business to get the best outcomes for you in both the short and long term.
Taxes are a highly specialised area of finance and law. Remember, ignorance of the law is no defence. In other words, tax minimisation is an area you really can’t afford to ‘go it alone’ in. Why risk going it alone when the services of highly skilled, knowledgeable and specialised professionals like those in the team at Jennings Financial Services are a phone call away AND tax deductible – how does it get any better than that?
Bruce is registered with the Tax Practitioners Board.
This information (including taxation) is general in nature and does not consider your individual circumstances or needs. Do not act until you seek professional advice and consider a Product Disclosure Statement.