The average wage earner pays $1 million in tax - property investment can reduce that markedly
Property investment, through a range of deductions, can reduce tax liability by thousands of dollars a year and eye-watering amounts over an income earner's working life.
Tax-savvy property investments can save tens of thousands of dollars in tax payments. (Image source: Shutterstock.com)
The beginning of the new financial year is a good time to think about the year ahead.
As we know, from 1 July this year, every working Australian was given a pay rise in the form of reduced taxes
.What this means specifically is that:
- someone earning $90,000 can access $1,900 more disposable income annually
- someone earning $120,000 can access $2,700 more
- someone earning $180,000 can access $3,800 more
- someone earning $250,000 can access $…
