I'm no accountant and only know a little about international business taxation, but my thoughts on minimising personal income tax are:
Concessional super contributions, $25k if under 49 years old, $35k if over. Can also contribute to a spouse and these minimise the amount of tax paid while still adding to your assets.
Charity donations - we're all across those.
Do professional education and training related to your field (AICD anyone?)
Investing in early stage start-ups.
I know you can start a trust which will minimise tax rates, but I'd imagine they're for already high net worth individuals / families.
I'm sure there are plenty of other ways so am also keen to hear, even though my holding isn't massive, I'm hoping it will help with a first home so every bit counts.
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