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Strategies for High-Income Earners to Optimize Tax Efficiency
This chapter delves into various strategies for high-income earners to minimize their tax obligations in Australia, including options like additional super contributions, deductible work expenses, and structuring investments wisely for tax benefits. It discusses the implications of breaching contribution caps in superannuation funds, Division 293 tax for higher earners, and seeking advice on tax-friendly investments. The importance of long-term thinking, seeking professional advice, and understanding payment structures in professional services like mortgage brokering and financial advice is emphasized.