Turning the tax system to your benefit

Key Points Use the dysfunctional tax system to your advantage For the right person, simple tweaks can generate thousands of dollars benefit Be sure to account for all benefits and costs The background The Australian tax system is a mess. The Government taxes with one hand and redistributes with the other, in the form of handouts and rebates. But, like all complex systems, it can be made to work to your advantage. Unfortunately, the approach we’re about to highlight requires flexibility. If you’re on a fixed monthly salary, you haven’t got a lot of that. The good news is,...

The Australian tax system is a mess. The Government taxes with one hand and redistributes with the other, in the form of handouts and rebates. But, like all complex systems, it can be made to work to your advantage.

Unfortunately, the approach we’re about to highlight requires flexibility. If you’re on a fixed monthly salary, you haven’t got a lot of that.

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