I am currently looking at ways in reducing the amount of tax I pay. I was wondering if someone could help with a possibile scenario.
eg. If I earn say $10000/month aprox $4000 goes to the tax man = $6000 in hand.
If I start a company as a consultant. I get paid say $10000/month in consultant fees. Which means I pay no tax until I file my tax return.
Which means I could theoretically use the $4000/month in some sort of negative gearing investment?
Does anyone else think this is a good idea?
Any opinion good or bad welcome.
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I am currently looking at ways in reducing the amount of tax I...
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