Tax Planning

Benjamin Franklin stated there were two certainties in life, death and taxes. One can be delayed by living a healthy lifestyle. The other can be reduced by some sensible tax planning.

Many people pay more tax than they need to, yet with some simple planning you may legally reduce the amount of tax you need to pay. A word of warning though – some people are so obsessed with paying less tax that they end up with less money in their pocket. This happens when people negatively gear a poor investment, or leave their money sitting in a low-interest account at the bank.

Like most things in life, it’s a matter of achieving the right balance, and tax planning should be looked at as just one part of your overall wealth-creation strategy.

The tax strategies available to wage and salary earners may be limited, but there are a few things you can do:

Keep good records
Know what deductions you can claim
Investigate tax-effective investments
Look at salary packaging
Save via superannuation

APS Financial Planning can help you explore some of these options and also provide advice on insurance, investments and superannuation. Book a free initial appointment with us to find out more.

It is important to highlight that, now in association with APS Tax, Accounting & Business Services, we can handle all your tax needs ... even if you have a company, family trust or self managed superannuation fund.

APS Financial Planning Pty Ltd is a Corporate Authorised Representative No. 305923
of Futuro Financial Services Pty Ltd ABN 30 085 870 015 AFSL No. 238478