British Expats - reducing tax

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Ant	Jun 6th 2003 2:30 am

reducing tax

Does anyone know if you start yourself in business as a company in Australia (even as a one man band) - and pay proceeds into a trust will this reduce the income tax to about 30%??

Megalania

Jun 6th 2003 2:32 am

Re: reducing tax

Quote:

Originally posted by Ant
Does anyone know if you start yourself in business as a company in Australia (even as a one man band) - and pay proceeds into a trust will this reduce the income tax to about 30%??

Why pay into a trust when the company tax rate is 30%.

pommie bastard

Jun 6th 2003 4:05 am

Re: reducing tax

Quote:

Good to see a refugee dreaming of tax avoidance , go for it .

http://users.bigpond.net.au/renton/sta.htm

:D :cool: :beer:

dotty

Jun 6th 2003 6:36 am

Company Tax is 30% but that is on every single dollar. If you are going to earn less than about 60,000 you are better off paying personal tax because of the exemption and lower rate on the first part of your income.

Also running a company involves a lot of registration fees, accountant fees etc, compliance etc so weigh it up carefully.

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