Yes I havepaid 30c in the dollar tax already but if i pay myself the $1 mill I will need to pay the tax man close to 200 grand in tax so my 1 mill turns to 800k.
Secondly my mrs isnt a director, the co was set up before her time so i cant pay here a dividend.
I have looked into having her as an employee but i need to justify to the ato she is worth 50-80 grand a year as a bookkeeper.
If I were to pay a bookkeeper to do all my books it might cost me a couple of grand a year, the ato would not like this.
I cant pay her much from the co ie maybe 5 or 10 grand a year and i cant give my kids the $1300 tax free a year.
This is why I need to transfer the money to the trust and start making my profits in the trust and excess money goes to the co.
How do i do it without being slugged 200 grand tax...oh and i want to transfer it in one hit
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