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At Banksia Partners we take the time to get to know and understand each client’s individual aspirations and objectives so as to assist and guide them on to the appropriate financial path. Continue reading

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Taxation Management

How can I legally reduce the tax I pay?

Australia has one of the world’s most complicated tax assessment regimes. Paying taxes is the duty of every citizen, optimising the taxes you pay is perfectly legal!

Effective taxation planning underpins our advice and is an integral part of any financial strategy. Although we are not tax accountants your Banksia Partners adviser we will work with your existing taxation adviser to develop tax-saving strategies that assist in minimising your personal tax burden.

Most working Australians have some capacity to moderate the level of income tax they pay, even if it’s simply redirecting some of their gross taxable income into superannuation via ‘salary sacrifice’ and saving more for their future.

Whether or not you pre-pay interest expenses, borrow to invest, can avail yourself of ‘salary packing’ benefits offered by your employer, or are in a position to legitimately ‘split’ income with a spouse or other beneficiaries, there are a myriad of legitimate tax strategies you can employ to ensure you keep what you can keep and don’t pay more income tax than you have to.

At Banksia Partners we systematically analyse the tax implications of alternative strategies and examine the opportunities for reducing your tax burden in order to maximise your cash flow and increase your wealth over the longer term.