There is no magic way to pay less tax and pocket more money as an employee.
Make sure you claim all the deductions you can (still a net cost)
Put some extra into super
Enjoy your high income and don't worry too much about tax. As an employee there isn't really much you can do.
Superannuation contributions can be deductible, but you have to lock the cash away in super. Work-related expenses require you to spend the money, and on $190k, won't make a huge difference.
You can always reduce your income... Easy way to pay less tax. Some people do this with real estate. They like to purchase something that purposefully loses money. Viola less tax
Personally I like making money but each to their own
Bit hard to be specific as you haven’t provided any info about the industry/job, but as an employee you really don’t have a lot of options, because the business probably reimburses you for most things (travel, equipment etc.)
The biggest reduction would probable be from making voluntary super contributions.
Otherwise the standard stuff applies, e.g. WFH expenses, equipment purchases.
Depending on the industry I have seen people deducting ‘research costs’ aka Netflix for people that work as actors/entertainers or a book they purchased that somehow relates to their job.
Deductible debt is the major way after you have done all the low hanging fruit related to super and general work related deductions. Get an investment loan basically for property or shares.
Hello there! I am a bot raising awareness of Alpacas
Here is an Alpaca Fact:
Alpaca fiber can be carded and blended with other natural and/or synthetic fibers.
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Hello there! I am a bot raising awareness of Alpacas
Here is an Alpaca Fact:
Alpaca fiber comes in 52 natural colors, as classified in Peru. These colors range from true-black to brown-black (and everything in between), brown, white, fawn, silver-grey, rose-grey, and more.
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There is no magic way to pay less tax and pocket more money as an employee. Make sure you claim all the deductions you can (still a net cost) Put some extra into super
quit your job, less income less tax
Enjoy your high income and don't worry too much about tax. As an employee there isn't really much you can do. Superannuation contributions can be deductible, but you have to lock the cash away in super. Work-related expenses require you to spend the money, and on $190k, won't make a huge difference.
Don’t worry about tax? Thanks for the advice for no thank you!!!
If you are in the market for a new car then you could salary package an EV.
This is actually the best suggestion here :)
Not many. Unless you get an investment property or run a business
You can always reduce your income... Easy way to pay less tax. Some people do this with real estate. They like to purchase something that purposefully loses money. Viola less tax Personally I like making money but each to their own
Bit hard to be specific as you haven’t provided any info about the industry/job, but as an employee you really don’t have a lot of options, because the business probably reimburses you for most things (travel, equipment etc.) The biggest reduction would probable be from making voluntary super contributions. Otherwise the standard stuff applies, e.g. WFH expenses, equipment purchases. Depending on the industry I have seen people deducting ‘research costs’ aka Netflix for people that work as actors/entertainers or a book they purchased that somehow relates to their job.
Be a contractor, register a company.
Deductible debt is the major way after you have done all the low hanging fruit related to super and general work related deductions. Get an investment loan basically for property or shares.
invest in a good accountant
On wages nothing really. max out super and debt recycle or neg gearing ....
timber plantations? emu farms? alpaca farms?
Hello there! I am a bot raising awareness of Alpacas Here is an Alpaca Fact: Alpaca fiber can be carded and blended with other natural and/or synthetic fibers. ______ | [Info](https://github.com/soham96/AlpacaBot/blob/master/README.md)| [Code](https://github.com/soham96/AlpacaBot)| [Feedback](http://np.reddit.com/message/compose/?to=JustAnAlpacaBot&subject=Feedback)| [Contribute Fact](http://np.reddit.com/message/compose/?to=JustAnAlpacaBot&subject=Fact) ###### You don't get a fact, you earn it. If you got this fact then AlpacaBot thinks you deserved it!
Alpaca pics please :(
Hello there! I am a bot raising awareness of Alpacas Here is an Alpaca Fact: Alpaca fiber comes in 52 natural colors, as classified in Peru. These colors range from true-black to brown-black (and everything in between), brown, white, fawn, silver-grey, rose-grey, and more. ______ | [Info](https://github.com/soham96/AlpacaBot/blob/master/README.md)| [Code](https://github.com/soham96/AlpacaBot)| [Feedback](http://np.reddit.com/message/compose/?to=JustAnAlpacaBot&subject=Feedback)| [Contribute Fact](http://np.reddit.com/message/compose/?to=JustAnAlpacaBot&subject=Fact) ###### You don't get a fact, you earn it. If you got this fact then AlpacaBot thinks you deserved it!
Amazon plantations 😂🤣
I am a charitable organisation. Send me your cash and you can claim it as a tax deduction. I’ll send you a receipt.