Every 7 out of 10 clients we have are concerned that they are overpaying in taxes. Of course, when we talk taxes optimization, there are many wise ways and numerous dangerous paths. Which ones should you choose to reduce your tax burden? The main thing is that you just need to know the rules by which IRS and big money businesses play in that respect.
When viewed globally Australia is one of the heaviest taxing countries. Acknowledging that, we can all breath a collective sigh of relief. All because Australia is not on the podium for high tax rates. These awards tend to go to EU states, which have more left-leaning, social democratic economic policies.
Still it’s always useful to remember that taxes build our roads, pay for our infrastructure and keep our hospitals going. You only have to travel a short trip north to the ever popular tourist destination of Bali to see how lucky we have it in this country. Of course, the big dispute is that the Australian officials are not spending the tax dollars wisely. That reminds me of the famous quote from the late Kerry Packer, at the time the richest man in Australia:
I pay the tax I am required to pay, not a penny more, not a penny less. If anybody in this country doesn’t minimize their tax, they want their heads read. That’s because, as a Government, I can tell you they’re not spending it that well that we should be donating extra.
No doubt that such a doubtful approach has been lingering on well since the taxes were first invented in an ancient Egypt…