Most people are going to their accountants and spending 30 minutes on their return.. and think that’s enough. But what are they actually doing to save their clients hundreds of thousands in taxes in the future? When it really matters.
The choice is simple because there are only two options to focus on:
– Save an extra $50 now.. or
– A few hundred thousand dollars over the next 15 years.
What would you rather focus on?
For example, many don’t know they can afford more properties.
(It’s important to find out. E.g. If you delay investing in property, on average you are losing $2k worth of cash benefits a month. Yes, delaying property investment is dangerous over even 12 months.)
Over 15 years, that’s at least $360k flushed down the drain .. but it’s not really your fault.
Your accountant – he should have explained that. Instead he is happy playing compliance officer and letting you pay extra taxes over the rest of your life.
What if you could turn that around?
How are people like you doing it?
Here’s how:
They actually focus on two areas of taxation.
And they understand the subtle but financially lucrative differences between the two.
We call the first one NOW TAX. For example, these are the tiny deductions on your tax return every year. That is usually less than 10% of the tax that you will actually pay over your lifetime. Yet, most think they have dodged a bullet if their accountant got them a handful of tiny “wfh” deductions.
Saving $500 over the surface (NOW TAX)
v/s
(FUTURE TAX) Beneath the surface, many are unknowingly losing hundreds of thousands of dollars needlessly, compounded & crystalising over the next few decades.
That’s what’s called FUTURE TAX. The latter hits below the surface and below the belt. Like Leo & Kate’s cuckhold love-boat-meet-iceberg CGI disaster. It hurts badly as it is usually over 9 times the size of NOW TAX – where everyone is mistakenly focused.
Because the tax system has managed the biggest magic trick ever. It’s a game of deception. Like the skillful magician, it distracts you with NOW TAX. All the while, FUTURE TAX is where the real trick is happening, at your expense. And your current accountant probably isn’t even looking there.
FUTURE TAX is generally comprised of 4 different large taxes:
-Capital gains on assets and business exits (CGT)
-Land tax on investment
-Tax on personal income & business profit
-Tax on retirement
For instance, if you look at CGT, that’s taxed at 50%. On your property investment, that will be on hundreds of thousands of dollars. And yet most spend more time driving around to save $15 on petrol than on eliminating their CGT. You see how the wool has been pulled over your eyes?
The system distracts you with the small things and tiny wins – then walks away with hundreds of thousands of dollars of your hard-earned money.
Most think that, because they live in Australia, that’s just the way it has to be. None of our tax planning clients would agree with that. And they are right.
Some of our clients are paying their kids’ university fees whilst buying multiple property investments, and taking decent holidays at the same time – all funded by tax dollars well invested.
Why would they believe the myth that they should be taxed at 50% like everyone else?
Neither should you!