Income Tax Planning, Financial Planning For Doctors, Pharmaceutical Accounting, Pharmacy Student

Tax Planning Products

Why choose Grimsey? | Portfolios | Superannuation | Tax Planning Products | Estate Planning

Basically, wealth is built through the taxation system by utilizing tax effective options to convert non deductible debt (e.g. home debt) into deductible debt.

To do this, money that would otherwise incur a tax liability must obviously be invested, and all investments carry some degree of risk.

Managing risk amidst the dynamic nature of taxation regulation and an ever changing economic landscape is what makes your choice of financial advisor so vital.

Superannuation

No need to transfer your funds into offshore accounts. Thanks to a shrinking tax base and an aging population, successive governments have done a lot to encourage retirement savings. The result has been to effectively deliver a low tax vehicle which converts into a zero tax vehicle at age 55.

Even if you are nowhere near this age, given that super contributions are taxed at 15%, it is the most tax effective investment product available.

From age 55 your super can be converted into a pension fund. The income drawn from the pension fund will be tax effective and completely tax free after age 60. Many people assume they have to retire to start taking advantage of this. Not so.

If you convert to a pension fund at 55 and continue working, it's not difficult to see the benefits of drawing down a tax effective pension whilst salary sacrificing the same amount back into your fund. Effectively, you would reduce your marginal rate to 15% on the money going in and limit the tax on that coming out - not a bad outcome for a value neutral transaction.

If you're not already taking advantage of this legitimate tax haven, we can show you the most strategic way of setting up a pension fund.

Structured products

These are usually 100% financed and 100% capital guaranteed. They can suit investors who are at an early phase of their careers, allowing them to start building wealth through tax minimization before amassing any investment capital.

They can also suit cautious investors, given your capital investment is fully protected. Even investors with a high tolerance for risk should consider their use as a hedge against sudden market volatility:

Tax Office Rulings

Periodically, the Tax Office issues rulings that grant tax concessions to investors in specified industries.

These can represent opportunities to accelerate wealth building. 

The Tax Office grants concessions to encourage investment. In the forestry industry it is because it is in the nature of trees to grow slowly and therefore in the nature of early returns to be low. But trees do grow, and are harvested for profit, so there is a sound commercial foundation to the investment as well.