Tax Minimisation
WHAT IF?
- You minimised your tax to its full potential by claiming every possible entitlement?
- You are wanting more money in your bank account – to save, invest and build a secure financial future?
- You are worried that you may be missing out on tax benefits simply because you may not be aware of what is available? If you are aware, you may not fully understand your entitlements?
- You are struggling to budget and build long term wealth?
HOW MUCH TAX DO YOU PAY?
| Taxable Income | Tax on income (2019-2020) | Tax rate |
|---|---|---|
| $0 – $18,200 | Nil | 0% |
| $18,201 – $37,000 | 19c for each $1 over $18,200 | 19% |
| $37,001 – $90,000 | $3,572 plus 32.5c for each $1 over $37,000 | 32.5% |
| $90,001 – $180,000 | $20,797 plus 37c for each $1 over $87,000 | 37% |
| $90,001 – $180,000 | $20,797 plus 37c for each $1 over $87,000 | 37% |
| Over $180,000 | $54,097 plus 45c for each $1 over $180,000 | 45% |
At Vision Group, we have a specialised network of experts who assist you in understanding all your tax benefits and help you know your numbers in order to claim all the benefits you’re actually entitled to. With an experienced team working for you, your tax is minimised, your budget is clear and your financial goals are set so that they can be achieved.
So, ask yourself, are you taking full advantage of tax breaks and paying the minimum tax permissible?
If not, you are wasting your hard-earned income when it could be helping you create a secure financial future. Most Australians will have an accountant that lodges their taxes at the end of each financial year. By that point, its too late to add any further tax minimising strategies.
If you want to make the most of your tax entitlements, you need to start before the financial year begins. The government offers various tax entitlements that you can legally use to reduce your tax liabilities. In the long term, effective and efficient use of tax minimising tools can help you reduce your debt, prepare yourself for retirement and achieve financial freedom.
Our network of experts review and assess your current financial situation and discuss what tax benefits are applicable to you. We aim to broaden your knowledge of how to use these tools and assist you in choosing an option that works best for you.
HOW MUCH TAX WILL YOU PAY OVER THE NEXT 30 YEARS?
Income 1 Year 5 Years 10 Years 15 Years 20 Years 25 Years 30 Years
$50,000 $8,550 $42,750 $85,500 $128,250 $171,000 $213,750 $256,500
$60,000 $11,550 $57,750 $115,500 $173,250 $231,000 $288,750 $346,500
$70,000 $14,550 $72,750 $145,500 $218,250 $291,000 $363,750 $436,500
$80,000 $17,550 $87,750 $175,500 $263,250 $351,000 $438,750 $526,500
$90,000 $21,250 $106,250 $212,500 $318,750 $425,000 $531,250 $637,500
$100,000 $24,950 $124,750 $249,500 $374,250 $499,000 $623,750 $748,500
$110,000 $28,650 $143,250 $286,500 $429,750 $573,000 $716,250 $859,500
$120,000 $32,350 $161,750 $323,500 $485,250 $647,000 $808,750 $970,500
$130,000 $36,050 $180,250 $360,500 $540,750 $721,000 $901,250 $1,081,500
Do you feel you're paying too much tax?
Hit the button below, fill out the form and we will be in touch. It's the first step to finding out about your entitlements.