The Australian --- Page: 6-7 : 25 July 2007 Original article by Bina Brown
ABIX Summary
Those Australians looking to minimise their tax obligations must learn from the sometimes very public mistakes of others. If they do not heed these lessons, they may come into conflict with the Australian Taxation Office. The instruments available for legitimate tax planning include trusts, company loans, capital gains tax, small business concessions, and correctly timed contributions to superannuation accounts. Operators of family trusts must make sure the trust deed documentation is up to date and appropriate. Loans made as companies at the attractive tax rate of 30% must be genuinely meant to be repaid.
