Unfortunately, tax for all working Australians is a requirement. If you earn more than $20,000 in a financial year, you will be required to pay a percentage to the tax man. Look at the table below and do a little exercise. In the left-hand column, find out your annual income and your partners annual income. Now go across that row to the column that best represents how many years you have left until you retire (65 years old). Now that’s a lot of tax to pay!
We all know we must pay tax, but what a lot of people don’t know is we have a choice were this money goes. We are given two choices:
We give all that hard-earned money to the current government and hope they know what to do with it……or
We can use that money to build our wealth through tax deductions and negative gearing.
That’s it. They are your 2 options. Now 2 quick questions:
How much will you give to the government over the coming years until you retire?
How much of that money would you like to use toward building wealth?
At Client First Investments, we can show you how to buy positive cashflow investment properties while still receiving a tax deduction.
An appointment will take about 60 minutes in your home and they are absolutely free. To start building YOUR wealth and not the pockets of our politicians, click the link below.