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a month ago
Would like some advice on how best to handle personal tax based on the following situation
Salary - $115k
Contract opportunity to earn $40k on top of salary
To attract best tax outcome should you take contract as an employee and pay tax as normal, set up a family trust, or other
In short - No - trying to "structure" around employment income/PSI is an exercise in futility. It would only yield additional compliance costs.
Australian Taxation Office
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