Do you want your head read?

Photo of Kerry PackerThis is the time of the year when we all think about how much Income Tax we are paying. And most of us think it’s way too much!

In fact we are probably all a bit like Kerry Bullmore Packer in that regard. When appearing before a Senate Enquiry in 1991 he was questioned about the amount of tax he paid and his response has gone down as one of the great quotes of all time:

“Of course I am minimising my tax. And if anybody in this country doesn’t minimise their tax, they want their heads read, because as a government, I can tell you you’re not spending it that well that we should be donating extra!”

So what is the most effective way for the average person to take Mr Packers advice and minimise their tax legally?

Well the only real effective way is via a negatively geared investment in property, which can dramatically reduce your taxable income.

And right now with low interest rates, National Rental Affordability Scheme (NRAS) incentives in excess of $10,000 tax free for ten years, the SA Housing Construction Grant incentive extension and of course the very very low interest rates that are available right now.

Of course there are other tangible and intangible benefits of investing in property:

  • Owning a wealth creating asset which continues to grow in value;
  • Reducing the cost of your own home mortgage

These days you hear a lot about ethical investing…using your money or equity to do good things for others. And what better could you do, whilst helping yourself, than help others.

Ethical Investing is an underlying principle of our business and our motto – Doing Good is Good Business.

NRAS is all about providing affordable rental accommodation for low to middle income families in need. So you are helping a vast number of deserving people in our community (including nurses, teachers, firies, ambos etc.) but also accessing a pool of readily available great tenants.

But if you want to minimise your taxable income for the next tax year and beyond and access all the other benefits offered by NRAS you need to ACT NOW…as stock is LIMITED and DEMAND is HIGH.

And make sure you forward this newsletter to others who may be paying too much tax…and you will be rewarded even more through the Loyalty Bonus Program for 2013-2014 we are launching next month.

(Source: Property Observer)
(Photo Credit: Sydney Morning Herald)

Sorry, comments are closed for this post.