Tax Strategies

The luxury car tax (LCT) is a tax on cars with a GST inclusive value above the LCT threshold ($66,331 as at 2018/19). 

From 1st January 2018, a 60% CGT discount applies for Australian resident individual's investing in qualifying affordable housing.

Managed investment trusts (MITs) are able to invest in affordable housing, allowing investors to receive a 60% CGT discount on any capital gains made.

Using the entertainment facility leasing provisions of the FBT Act to make owning and operating a boat or yacht as tax effective as possible.

If your business has a turnover greater than $2 million then to qualify for the small business CGT concessions (and potentially pay no tax on your business sale) you need to pass the $6 million net assets test. 

The sole trader business structure involves the individual personally operating their business. A sole trader in Australia can earn $18,200 before starting to pay any tax.

This strategy involves having a company’s ordinary shares owned by a family trust structure (instead of the individual directors).

This strategy involves purchasing a loss-making business and taking ownership of the company structure (to access the accumulated tax losses).

This strategy involves employee’s salary sacrificing $1,000 of wages income (which is taxable) for $1,000 of employer provided goods or services (which is tax free).

Work-related counselling provided to employees (and their associates) in order to improve or maintain their efficiency at work or prepare them for retirement will be tax deductible and FBT exempt.