More and more Australians are looking to foreign tax reduction strategies as a way to protect their wealth and maximise their business profit. With Australia’s very high tax rates, going abroad to open an offshore company makes a lot of sense, and it is 100% legal.
However, many have tried to make the leap on their own, with near-disastrous, and very expensive, results.
With expert guidance and years of experience, Wealth Mantra will make sure that you avoid any mistakes that can put you at odds with the law. We will help you take maximum advantage of favourable foreign tax policies, and put your hard-earned tax dollars back into your pocket.
In good company
One of the best ways to benefit from these more relaxed tax policies, especially for those living outside of Australia, is to start a company.
One of the biggest advantages of starting a company, is the significantly reduced tax rate — in Australia individuals are liable for up to 46.5% tax, whereas company tax is capped at a much lower 30%. This sizeable difference can have a huge impact on profits.
For company owners already taking advantage of the massive tax saving, there’s a catch. While company profits are taxed at 30%, it’s still a significant amount of profit that goes directly to the Tax Man! What’s more, the moment these profits are paid out to shareholders, it gets taxed again at the shareholders’ personal rate. This means investors get taxed twice for reaping the rewards of a successful company.
This double-taxing is a key consideration for company owners to seek greener tax pastures overseas.
Solutions beyond the border
There are many countries around the world with favourable tax laws and structures. By taking advantage of these structures, you can reduce your corporations tax or your individual tax burden significantly, with some structures resulting in 0% tax! And don’t worry, it is 100% legal, and 100% compliant with the Australian Tax Office.
The best strategy for you
Every individual and every company is different, with different challenges and different needs. At Wealth Mantra we understand this, and we pride ourselves on providing individual attention, no matter what your income is or size of your company. We consider your unique needs, income streams and asset bases, then build the best possible overseas tax reduction strategy.
But we don’t just build your tax reduction strategies and send you on your way. We give you step-by-step support and guidance. In fact, we take all the steps for you! We set up legal tax structures, take care of the transition overseas, and ensure that you are 100% compliant with Australian tax laws, and 100% risk-free.
Call the experts
Our company has access to a team of experienced Accountants who specialise in Australian Taxation. Wealth Mantra CEO Anand Gupta is a Chartered Accountant and is an expert in offshore tax strategies. He has great experience in international tax codes and business laws.
We have helped everyone from individuals to start-ups to multi-million dollar companies, and we can help you!
Avoid the costly mistakes many have made, and book a free, one-on-one strategy session with one of our expert consultants. Let us see how we can help you protect your wealth from excessive tax.