Great start pool boy! I fully support the Kerry Packer view but going a little further I've yet to have satisfactorily explained to me how, as we strive to make we and our family's life secure, we acquire obligations to support people we've never met. There is a group that always has its hands out . we never hear them say they have enough yet they and the government tell us all the time that I have enough and help themselves to our income without enquiring about our family's well-being or whether what they take leaves us short?. Have any who subsequently succeeded ever offered to repay us or anyone else that pays taxes?. The concept of the redistribution of wealth via the taxation system doesn't sit well when there is a vast group within Australia who simply manipulate the system to their own ends without taking risk or adding to the Consolidated revenue. And for some perspective I've been self-employed (with business partners) for the entire 40+ years of my working life so neither a wage earner nor recipient of government largess.
Back to the topic.
When disposal of the asset is voluntary and timing is discretionary there are a number of well trodden paths to keep the marginal tax rate away from the top personal. Some of it starts with multiple investment vehicles in the first place e.g. superannuation fund, business structures such as companies, trusts et cetera. This would be a good forum to cover off on some of the pros and cons as we go but always of course with the rosy thought that paradigm will give us that problem to start with!
PAR Price at posting:
$2.88 Sentiment: Hold Disclosure: Held
(20min delay)