PERSONAL INVESTMENTS

If you've gone to the trouble of acquiring an investment, it's equally important to invest effort in safeguarding it. It's crucial to carefully consider the ownership structure of different investments to ensure their protection. By strategically placing investments away from areas of high risk, you can enhance their security.

Diverse investment types necessitate varying structural approaches for income tax and Capital Gains Tax liabilities upon sale. Proper structuring not only optimises tax considerations but also provides flexibility for both divesting investments and leveraging them as collateral.

 While you may have a grasp of the specific investment purchase and sale particulars, it's equally crucial to account for all other variables when calculating Capital Gains Tax. Numerous factors come into play to help you minimise your tax liability. This encompasses a thorough understanding of the main residence exemption and the requirement to hold eligible assets for at least 12 months to qualify for the 50% capital gains tax discount for individuals. 

As an Australian resident, it's essential to disclose income and gains derived from overseas investments. In cases where you've already paid taxes in foreign jurisdictions, you may qualify for a foreign income tax credit.

When it comes to earning investment income, you have the opportunity to claim tax deductions for various related expenses. These deductions encompass a range of costs, such as account fees, interest on borrowings, management fees, and even subscription expenses for research services. It's wise to explore other potential deductions with your accountant that might have been overlooked to optimise your tax benefits.

We have the expertise to assist you in structuring your assets to ensure the smoothest and most tax-efficient transfer to your beneficiaries, minimizing the taxes and obligations incurred.