[naved1970]

hi everyone
Can anyone living in Australia suggest the ways we can save the tax
like we have back in India rent or installments of the mortgage loan, life insurance policy, etc have tax benefits.
if anyone knows about it as per Australian laws please post the reply in detail
for the benefit of all.
thanking in advance

 

[kaz101]

The thing to do is get some professional advice from an accountant or financial adviser dealing with Australian tax and finance.

We moved from the UK to Australia and the treaties there may be different from India (for example there is no double taxation between UK and Australia).

We have to do tax returns in both countries (UK and Australia) although we permanent residents in Australia, and declare income from around the world in the Australian tax return but we only pay the tax once.

There are also legal entities such as trusts that can be set up in Australia to minimise tax.

Regards,
Karen