55 year old offered redundancy of $500,000 Invested through self managed superannuation. Takes a tax free allocated pension between $20,000 and $40,000 per annum. He has done so for the past 4 years. Today his self managed super fund is valued at over $600,000.
Sole trader earning a taxable profit of $150,000 converted to company trading and introduced a wages structure to himself and his wife. The profit was retained in and reinvested in the company saving the client over $10, 000 in taxation.
|