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TSRABECOMING
29th Jul 2011, 17:16
I think Australian tax system is similar to other countries (except the rate :sad:). I 'd like to have some suggestions to save my money instead of pay the majority for tax.It would be a good idea to ask from people who have similar financial structure.
Are there any ideas? i.e. investments which I can use for tax deduction. How can you manage your income?

Metro man
30th Jul 2011, 04:55
Get a job in Asia/Middle East, speak to your accountant to make sure you meet the requirements to be classed as a non resident of Australia.

Save money and make the best of it.:ok:

TSRABECOMING
31st Jul 2011, 05:57
So I have to stay outside Australia for more than 6 mo/year??

Slasher
31st Jul 2011, 06:44
A lot of blokes have done the same thing over the past couple
of decades and are financially much much better off.

To simplify the Oz tax situation it'd be better to have the fam
shift offshore with the pilot. This isn't always an easy decision
as there are places you wouldn't even bring your dog to - but
if the employ is in such places as Singas etc the family'll hack
it quite well. Places desirable to plonk the tribe tends to be a
subjective rather than an objective decision however - there's
a Kiwi mate working his arse off in China with his family living
the high life in Subic Bay. He's back in Subic every 4 weeks,
and I think they all go back to NZ for a holiday visit every 4
months or so.

In any case, anytime you and/or the clan return to Oz for hols
will therefore be a lot less than 180 days (or whatever those
ATO bunch of parasites say is the limit these days) so you get
to keep your wealth in your pocket where it belongs. But you
must get a real savvy, smart and competent accountant (like
I once did) to ensure you never pay a bloody cent in Oz tax.

First thing you gotta do though is get that overseas job.