Does this sound like you?
You have worked hard to achieve a good income, but are concerned at the amount of tax you are paying. It really hits home at tax time each year when you see how much income tax you are paying…
A focus on tax makes sense as it can be a significant amount. Starting with the income you earn, the amount of tax you pay then determines your net income or the amount that you have to allocate towards your everyday costs of living.
At the same time it is also important not to put a tax advantage ahead of a good investment decision. Unfortunately we have all seen too often the disastrous results from many so called “tax effective investment schemes” that result in a complete loss of capital.
At Carrick Aland Wealth Planning, we focus on after tax returns when making investment recommendations. With an accounting and taxation background, this allows us to understand and take into account tax in the investment recommendations. This includes consideration of appropriate investment structures.