All Topics / The Treasure Chest / Tax Implications

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  • Profile photo of Robbie_2Robbie_2
    Member
    @robbie_2
    Join Date: 2003
    Post Count: 0
    August 5, 2003 - 12:31 am

    Does “positive income return”, by definition, imply that I will be paying a sizeable tax bill on June 30 ?? If so, how can tax be minimised in this situation ??

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,213
    August 5, 2003 - 2:44 am

    Psotive income means you will be making a profit and hence paying tax. You can reduce the tax you pay by other deductions such as travel expenses, study materials, maybe depreciation etc.

    Holding the property in a trust would also help!

    Terryw
    [email protected]

    Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
    http://www.Structuring.com.au
    Email Me

    Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au

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