Most people don’t realise how much tax they are actually paying and there are many completely legal and socially acceptable ways to increase your wealth in a tax efficient manner.  You can save on your taxes in many different ways. Just remember to always keep your investment plans in mind and make sure you give yourself a lot of time to review everything before tax time.

Some ways to save on your taxes are:

  • Contribute as much as you can to your superannuation;
  • Take as many deductions as you are legally able;
  • Look into tax effective investments.

Some deductions that may be available are:

  • Superannuation contributions up to your maximum contribution caps;
  • Income protection premiums;
  • Deductible amount for pensions/annuities;
  • Interest/fees on borrowing for investment purposes.

There are five main types of tax-effective investments:

  • Account Based Pensions - Any fund earnings are tax-free and and if you are over 60 the income payments are also tax free.
  • Superannuation - Taxed at 15% on investment returns. You can defer lump sum tax by rolling over eligible termination payments.
  • Direct Australian Shares & Managed Australian Share Funds - On franked dividends a credit is given for the company tax already paid. These credits, known as the imputation credits, can reduce your income tax.
  • Borrowing to Invest
  • Internally Tax Investments – these investments are taxed internally, usually at a tax rate just below 30%, so can be a good solution for those on higher marginal tax rates.

Contact us to book an initial consultation to discuss your tax planning.


"I cannot emphasize enough how important it is to have a good financial advisor, especially someone who takes the time to understand your personal situation and what you want to achieve with your finances. Lynette and the team from ActonAdviceGroup have been professional and approachable from the beginning, providing excellent advice and peace of mind. I have no hesitation recommending them."

- Jill Davies


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