Tips column | Completely Legal and Normal Ways to Reduce Your Taxable Income to Zero – The Betoota Advocate

DR CHET SPEVENS | Financial Expert | CONTACT

It’s no secret that in many boroughs in Betoota, financial literacy rates are low. This is why I, Dr. Chet Spevens, feel a divine sense of responsibility to help our diverse communities through these difficult economic times, by helping them get their finances under control.

In this column, Australia’s leading authority on finance, myself, teaches everyday Australians how to create wealth through practical steps that cultivate the necessary paradigm of the “Crazy Money Mind” that enables us all to achieve their own Australian financial dream.

This week, I’m sharing with you how to capitalize on Australia’s economic downturn by taking up the happy, centuries-old corporate hobby of:

TAX EVASION

Every year at tax time, we all get a little worried, don’t we? Will I get money back on my tax return? Have I completed my tax return correctly? It can be a very stressful and, to put it mildly, expensive time of year.

Well, not anymore!

Avoid paying taxes by using tax havens and the current tax system to your advantage. Like your rich grandfather before you, cheat the system by overcoming it and getting out of it.

No wealthy sane person pays taxes, it’s a terribly working-class thing to do. In fact, for tax purposes, a wealthy person is not a person at all but a corporation. That’s right, they become a business.

Now you can too!

All you have to do is register as a corporation and claim outrageous tax losses every year, then deduct them from any income you may or may not have received 😉

And if things get tricky come tax time, make sure you’ve set up at least one offshore shell company, to make sure the taxman is busy chasing their own tail this EOFY.

Hey, if it works for the world elite, it can work for you too!

There is a litany of offshore tax havens where you can place your well-deserved family fortune. The Paradise Papers webpage lists many such places that provide such a service.

The truth is that you will never be fully wealthy until your corporate taxable income is zero. This is especially true today, now that the ATO’s entire mandate is to ignore all corporations and instead focus their tax time fury on the individual; those true Australian fighters full of themselves who dared to earn minimum wage.

PRO TIP

When it comes to tax avoidance, sometimes it pays to think bolder, bigger and better. So, next EOFY, don’t limit yourself to your local nation state, become a multinational corporation because it’s the easiest and most legal way to avoid paying your fair share of tax in Australia.