TAX TIME

It's tax time again and guess what you will be paying far too much tax again if you don't educate yourself. The internet is now full of information on this subject but can you trust the information you are reading. Last Tax year I purchased a book called "The Tax Solution", this book is written by Lance Spicer, Lance worked as an accountant for many years and the information he gives in his book is the best solution for anyone who have to pay tax and your accountant can't offer you any more legal ways to assist you with reducing taxes, you've read tax books before and they are too technical and boring, you want to know how the rich can get away with paying less tax than you, you're not necessarily a "financial" person who understands accounting jargon, you don't want to break the law - you want legal strategies and you want to reduce your tax to the absolute legal minimum. This book is about 100% Legal Ways to Reduce Your Tax.

Here is a tip:

Did you know that you don't need to make cash contributions to a superannuation fund to claim a tax deduction. Assets such as shares or business real property may be transferred to a superannuation fund by an employer and a deduction claimed for their value. Watch out for stamp duty costs and make sure the contributions are made before the end of the financial year to claim a deduction.