How to never pay taxes (legally) You should do this! [006]

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Tax season has arrived once again. Every year, this time brings us nothing but worry. Why do we have to pay so much in taxes? Personal income tax, capital gains tax, business tax, property tax... there are over ten different types of taxes to pay. In Australia, the highest personal income tax rate has reached a staggering 45%. Nearly half of what you earn goes straight to the tax office. For the average person, there aren't many ways to reduce their tax bill. But the wealthy? They can pay less tax or even no tax at all.

Take Warren Buffet, for instance, who pays less tax than his secretary. Or Jeff Bezos, the former richest man in the world and CEO of Amazon, who doesn't pay income tax at all. Elon Musk saw his personal wealth skyrocket in recent years, all while paying no taxes. On average, the wealthy in the United States only pay 3.4% in income tax. In Australia, those earning over a million Australian dollars a year don't pay a cent in income tax.

So why can the rich avoid paying taxes while we, the average people, worry every year about our tax obligations? It's because the wealthy not only know how to make money but also how to keep it from the taxman.

I don't know about you, but I wouldn't say I like paying taxes. Of course, if you enjoy paying taxes and see it as your social responsibility, if you believe paying taxes is noble, then this video might not be for you. But if you, like me, don't like paying taxes, you should watch this video to the end. I will explain seven methods to reduce or even avoid paying taxes legally. If you learn these, you can keep more of your money, just like the rich, and prevent the taxman from taking it away.

00:00 How to never pay taxes (legally)
01:44 1. Stop Earning any Income
04:12 2. Use Debt Strategies
06:19 3. Tax Deductions
07:25 4. Real Estate Investment
09:26 5. Side Hustle
10:04 6. Offshore Tax Strategies
11:43 7. Financial Education
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[haocaitlin]

great content, keep up the great work

[taranjeetsingh-vlogs]

Wow, Excellent content. Thanks for providing this valuable information. Please make a guide on latest changes to first home buyer grant.

[sosealTV]

what if i borrow money to buy a property and i payed the money back to the bank in full will i still pay for tax or i can write it as debt