This topic has covered, in general some of the taxation issues that your clients may face and has illustrated the importance of forward tax planning to minimise tax in legal ways.

Unless you are a qualified accountant you should at all times, refer your clients to qualified tax planner to confirm any suggestions you may make to your client. Where there is doubt about the viability of any tax strategy, an ATO personal ruling should be applied for.

 

References

The Australian Taxation Office (ATO) Tax tables