Tax Strategies of the Rich: How to Legally Pay Less Tax In Australia

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Have you ever wondered the secret behind how wealthy people pay $0 in taxes each year? Wealthy individuals are able to reduce their taxes legally by exploiting tax loopholes such as negative gearing and capital gains discounting. By understanding some of these secrets we can maximise our own tax returns in Australia
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▼ ▽ TIMESTAMPS
0:00 Intro
0:50 How The Tax System Works
1:45 Tax Deductions and Tax Credits
2:59 Not All Income Is Treated The Same
3:34 Capital Gains Discount
4:40 Loans From Banks
5:09 Negative Gearing
6:13 Impacts of Negative Gearing
7:44 Conclusion
▼ ▽ CONTACT
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Опубликовано:

5 авг 2024

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Комментарии : 26

@raymondla Год назад

Are any of you getting a tax refund this year?

@smokey6455 2 месяца назад

Thanks for the video, very informative. I have a question though, at 4:40, when you talk about Loans. You say the rich borrow money from the bank to use as spending money, and use their assets as collateral, thus avoid paying taxes. But then, what money do they use to pay back the loan?

@australiasian Месяц назад

@@smokey6455 I'm trying to figure out the same thing.... It wouldn't make sense to sell their stocks or accept dividends which are a taxable income which then decreases their portfolio which then decreases the collateral they can use against a loan. Is it in the wording? They don't pay income tax, but they do pay interest on their loans which is the lesser of the two? Then in order to pay for the interest on the first loan, they get a new loan against their newly successful portfolio thanks to inflation and growth... do they repeat this until they die??

@smokey6455 Месяц назад

@@australiasian I've been looking all over for the answer but can't find it. If you stumble across it, remember to come back here and let me know 😅

@sdeane09 3 месяца назад

Read an article that stated that 77% of landlords only had 1rental property and that most of these were middle class mums and dads. So not necessarily rich. The issue is the value of those properties, esp as it IS the rich that have the commercial properties and they are worth way more than a house. I want to know how the hell people under 30 have multiple rental places, how the hell are they getting loans? I have struggled with each time i have refinanced and am on a good wage and have a hell of a lot of equity. I know if they had lent me the money i would have many rental places but they didn't lend me money.

@beeanca8126 Год назад

Thanks for another great video Raymond :) I'm 26 and working full time in local government. For the first time this year I've had to pay tax because the LITMO ended. I imagine a lot of others are in the same boat. I already salary sacrifice but might try to increase it. I'd love to see a video regarding the medicare levy surcharge that you get at 31 and the tax benefits of private health insurance. Have a great day!

@raymondla Год назад

Great to see that you've been consistently salary sacrificing, I think as long as you don't need the extra money then salary sacrificing more is never a bad idea!

@yiannik9981 2 месяца назад

Hey Raymond, great video very helpful. I was just wondering what software you use to create the graphics in this video

@raymondla 2 месяца назад

Thanks! All the editing was done in premier pro

@ryanstarling9391 4 месяца назад

You can't mention the cost amount of negative gearing without mentioning how much the government has made in positive geared property and sales

@acts.412 Месяц назад

When you said the rich people take out a loan and live off the loan - how do they pay it back? I'm quite new to this but it's very interesting to me. Thanks for the video 👍

@vincee_11 Год назад

Great video bro. I was wondering if buying or building a house right now is a good investment decision as RBA continue to increase interest rates? Cheers bro :)

@raymondla Год назад

Hey mate, no one has a crystal ball as to how the interest rates will change overtime but I wouldn't bank on it going back down to the rates we had during COVID

@thestar2314 Месяц назад

you didn't talk on paying 0 dollar in tax strategy

@AusValue 3 месяца назад

I moved to NZ from AUS so I can pay 0% tax for 4 years

@samtay5080 3 месяца назад

Wait, what?! Haha

@MrHenrymorle 2 месяца назад

Taxes are BS

@coopsnz1 3 месяца назад

wrong you pay min of 45% taxes on min wage in australia add alot of hiden taxes

@raymondla 3 месяца назад

You’re saying someone who earns $15k per year will pay 45% in taxes?

@SuperTambo69 2 месяца назад

what?

@coopsnz1 2 месяца назад

My Dad owned a civil construction business and keep 5% net profit after taxes& expensess the government total crooks since bob hawke . 10 million reveune not profit it costs pushed up by government @@raymondla

@coopsnz1 2 месяца назад

@@raymondla earning $45000 a yr fulltime . Everything tax much less in my born country in australia there more than 125 taxes why luxury cars & fuel expensive here . 2018 c63s back home is $67000 . No luxury cat tax " no stamp duty & no import duty

@coopsnz1 2 месяца назад

Duties " gst & excise taxes