Salary packaging is an effective way to optimise ones tax position Packaging allows employees to change the structure of there remuneration package and take non cash benefits in lieu of salary The most common packaging items are: Cars Living Away From Home Allowances Relocation expenses Laptops Additional superannuation We will review your salary package and [...]
Browsing Posts tagged tax position
Tax planning is the process of organizing the affairs of a taxpayer so that, as far as legally or commercially possible, the liability of the taxpayer to income and other taxes is minimised. – (definition from the Australian Master Tax Guide) Some common strategies of reducing ones tax liability are: Reduce assessable income Increase deductions [...]
Tax planning is the process of organizing the affairs of a taxpayer so that, as far as legally or commercially possible, the liability of the taxpayer to income and other taxes is minimised. – (definition from the Australian Master Tax Guide) Some common strategies of reducing ones tax liability are: Reduce assessable income Increase deductions [...]