# Tax - how to minimise



## Vlasta (Jul 29, 2013)

Hi - I will shortly be moving to Aus. under a 457 visa to work and was wondering how I can minimise my tax bill - what deductions are/are not allowed for example?


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## louiseb (Dec 22, 2012)

The best thing to do ( all Australians usually do this) is get a financial tax advisor to do your tax returns, you will save allot of money on one hand but obviously you pay it in another on the fees they charge. The first time i would do it and you learn what you can save, the next year if you feel confident you can do it yourself. 

Good luck 
Louiseb


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## robboat (Jun 12, 2012)

Vlasta said:


> Hi - I will shortly be moving to Aus. under a 457 visa to work and was wondering how I can minimise my tax bill - what deductions are/are not allowed for example?


A good accountant will help you do this legally....and the fee is tax deductible!
It is also a good idea to income split with your partner if that works, or pay more into superannuation at a low tax rate.

Do not do any tax avoidance.....data matching will eventually find you and the fines are large...!!

See the links:
Notice of a Data Matching Program - Department of Immigration and Citizenship Temporary Working Visas Data Matching Program
ATO documents reveal "elevated" fraud and tax avoidance risk among 457 visa holders
Understanding the Tax for Work Permit holders in Australia | Contractor Taxation

Research what is best for your work situation and income.

Good luck


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## louiseb (Dec 22, 2012)

robboat said:


> A good accountant will help you do this legally....and the fee is tax deductible!
> It is also a good idea to income split with your partner if that works, or pay more into superannuation at a low tax rate.
> 
> Do not do any tax avoidance.....data matching will eventually find you and the fines are large...!!
> ...


If you do your tax returns its not illegal so please explain what is the quote " A good accountant will help you do this legally"


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## Vlasta (Jul 29, 2013)

Thanks all - I have the services of Price Waterhouse Coopers so they should know the score!!!


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## robboat (Jun 12, 2012)

louiseb said:


> If you do your tax returns its not illegal so please explain what is the quote " A good accountant will help you do this legally"


The OP question was about tax minimisation..

Tax minimisation is legal....
Tax avoidance is illegal....and carries heavy fines.
It is often a fine line sometimes between tax minimisation and tax avoidance.

There are many ATO-ID's that can be read to determine the situation....or seek a private ruling....most people seeking tax minimisation use an accountant to stay within the tax minimisation limits.

If you have simple tax affairs and are not interested in tax minimisation then by all means use E-Tax and get your tax money returned to you.


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## bmacavanza (Jul 17, 2013)

do super sacrifice


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## Vlasta (Jul 29, 2013)

bmacavanza said:


> do super sacrifice


What is that?


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## onederland (Nov 13, 2013)

Just take a visit to an accountant and he or she will give you some professional advice. You may have to pay a small fee but if the accountant can help you to do your tax in the best way, perhaps it'll be worth it. There are a lot of small practices around the suburbs or there are big practices in the city.


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