Tax Planning

One of the most important parts of your wealth creation strategy is finding ways to hold on to the money that you already have. Tax planning can help by ensuring that you’re not paying more tax than you have to.

By recognising legally available tax deductions and employing some simple tax-saving strategies (below) you can begin managing your tax more efficiently.

Tax-saving strategies

• contribute as much as you can to your superannuation
• claim all deductions legally available to you
• investigate tax-efficient investments

Common tax deductions

• self-employed superannuation contributions (up to maximum deductible contributions)
• Income Protection Insurance premiums
• deductible amount for pensions/annuities
• Interest or fees on investment borrowings
• salary sacrifice

Common tax-efficient investments

1. Income stream investments for retirement
2. Superannuation
3. Shares and Managed Investments

If you’re not already using some of these strategies, you may be paying more tax than you need to.

We can help you pay less tax by advising you about tax-efficient investments and any tax deductions you may be eligible for. For more information contact a Schroeder Capital adviser.