*** Now an Amazon No 1 Best Seller ****
Ever wondered how the wealthy always seem to pay less tax than the average person?
Allan Mason shares his over 40 years of tax and accounting knowledge in an easy to read format. While tax may be a boring subject, unfortunately it is something we all need to master. As the saying goes there are only 2 things certain in life – death and taxes.
By reading this book you will learn about real case studies and tips on how Allan has helped many clients reduce their tax improve their business and hence grow their personal wealth.
You will also discover:
- How the wealthy view tax and their mindset.
- How to play the tax game using structures to take advantage of different tax rates.
- Read about actual real life case studies.
- 11 tax tips covering nearly every tax situation a person can encounter.
- 7 Money tips that successful people use to create wealth or run their business in a way that it creates life rather than taking it away from them.
- Some interesting facts about money and wealth.
- The millionaire mindset of the wealthy and how to emulate that.
- The psychological aspect of success and failure in business.
- How to harness the power you have within you to run a successful and profitable business while still retaining enough after tax dollars to build wealth.
What’s Been Updated
- Tax changes as a result of the 2023 budget
- Update on tax rates applicable to the 2023 and 2024 tax years.
- Extra tax tips that may save you $000’s.
- Changes to superannuation
- Extra data matching now in place to catch non-compliance
- How Australia will start repaying the Covid induced deficit
This is a must read for every person who aspires to being in control of their finances.
You owe it to yourself, your family and the community to be successful.
Allan Mason is an acclaimed author having written numerous books and articles in his field. He is a Chartered Accountant with a career spanning over 40 years working both in large corporations and in private practice. He has established and operated many successful businesses. His claim to fame is working for many high flying entrepreneurs which included the late Kerry Packer, who was famous for his outspoken views on taxation.
While there may be only two things that are certain in life, death and taxes, this book changes that perception to being ”How to make more money and be able to keep it” . The western world has a strong system of taxation that takes away your choice and gives this to central government who decide how they will spend your money. But entrepreneurs do not see it that way. To them taxation is a game, like being in business, that they want to win at. A game of using the system to minimise their contribution to the taxation system and then be able to build wealth and assist those less fortunate in the way they choose.
The writer with draws on his own personal experience as an accountant in public practice. He shows real life case studies on how he has reduced the tax payable for many high net worth people (or those that aspire to be). He also shows his vast tax knowledge by providing an outline of how to use tax system in Australia to your advantage. The 2 sides, making money and keeping it, deal with running a successful business and then retaining as much of those profits, without the burden of taxation. He also highlights with a lifetime of experience, the keys to actually making money, in a very practical sense.
On the other side of success, this book also shows the pitfalls and personal cost of entrepreneurship. Something a budding entrepreneur needs to be mindful of if they are to embark upon this journey. It is a fact that being in business there is a strong the chance that things sometimes do not go as planned. Some 85% of businesses fail in the first 5 years. The lot of a business owner is a hard one. If you get it right more than 50% of the time you are doing well. Dealing with failure has consequences that can lead to depression, the feeling of being trapped, not knowing who to turn to can lead to the owner paying the ultimate price (suicide).
Allan Mason has provided frank outline of the tools required to run a successful and profitable business. We all have dreams and ambitions. It is not a person’s dreams that fail them, it is the tools required to put those dreams into action. It is here that many fall short. By using the knowledge in this book business owners can learn what it takes to run a successful business, how to avoid the traps and pitfalls and how to use the tax system to retain as much of those profits as possible.
This book is a must-read for anyone in business. Allan gives you specific information to help you grow and properly manage your business, while minimizing tax. It is packed with actionable advice with a dash of important mindset and human psychology principles. There is definitely something for every business owner in this book, no matter your level of success. – Pat Mesiti
Allan Mason’s book has all the information I wish I had when I first started my business. It has solid business, money and tax advice that anyone in business should follow. Allan dives deep into key principles that help you manage your business’s cash flow and avoid over paying taxes. Allan also openly discusses the emotional cost of running a business which is often a hidden secret among many business owners and how to avoid the trap of near-debilitating anxiety that comes with success. Read this book cover to cover, you’ll be glad you did. – Steven Essa
Tax Secrets of the Rich is essential reading for anyone seeking a magic formula to success that works every time, someone who wants to make more money and know how to keep it (by paying less tax). Author Allan Mason draws on experience from over 40 years as an accountant in practice and in business.
As an entrepreneur you must invest in yourself, be self-motivated to be successful in life and business, and have a growth mindset. Learning from people who have experience, knowledge and good judgement is paramount. By acting on and implementing what Allan has provided for you in this book, you will create more wealth, manage your business better to make more profit (and keep it). Plus it will help you become wealthier and healthier both emotionally and psychologically.
Tax Secrets of the Rich is a game changer.
Written by Lisa Fogarty – Transformational life and business strategist, executive coach, facilitator, and international speaker.
Founder and CEO of Performance Circle and Sailing Australia Business Retreats
Executive Director of Women’s Network Australia, North Queensland
Creator of The B.O.L.T. Methodology™
Certified Canfield Trainer – Jack Canfield, The Success Principles™
Author – Humble Leaders – Stories of Courage, Strength and Perseverance
Structure of this book
We all hate paying tax. We see it as a necessary evil. That the taxation office is your partner in business taking anywhere from 1/3 to over half of your profit or income (if employed). It is a function of modern society. With the burden of paying for the stimulus measures introduced all over the world, to support business and the community, due to the Covid pandemic, this is likely to get worse.
If you have a view that this OK, then this book is not for you.
If, however you feel you want to be in control, you want the tips that many wealthy people have used to create wealth and keep it and then donate it in the manner they consider appropriate then learn from an expert in this field.
The author wrote this book with the desire to help business owners be in control. It basically covers 2 important areas.
- How to make more money
- How to keep as much as possible for your own future growth, wealth creation without a heavy taxation burden (legally of course).
Part 1 deals with why money is important to get right. It leads from understanding and playing the tax game being proactive with different structures and comments from Australia richest man (in the 80”s) about tax and wealth. It outlines basic facts about money, the power of compounding and how to increase your wealth (so you have a tax problem to solve).
Part 2 This section outlines the tax system in Australia, the money raised each year and the manner in which the Australian Taxation office goes about ensuring there is integrity in the system. In other words, how they ensure they catch any unreported income. It dispels the myth that taxation is an exact science. It is not. There are many loopholes, incentives and ways to use the system to your advantage. But you must do so legally and with caution.
Part 3 is all about finding a strategy that will save you tax. Know tax law, knowing the incentives available and knowing how adapt them to your situation. It lists 11 tips that covers the different applications o tax law.
Part 4 explains the secrets to success at a business or personal level. The formula to running a successful business, items every business owner should know and apply. If you follow these rules it will guarantee success every time. The 7 money tips that are vital to know, when you run your own business.
Part 5 deals with the physical, psychological and emotional aspects of running a business. On a positive note it covers having a millionaire mindset. That as a business owner, leader of your business, the mindset you need to have. On a negative note, it covers how to handle adversity and knock backs that every successful person suffers. In many cases being at the top of your game one day and the next being knocked to the floor. How to handle this roller coast ride. I even cover the total negative aspect that has led some entrepreneurs to want to leave this earth through suicide. An unfortunate path that some have chosen when they feel trapped with no solution in hand.
The author has a genuine desire for everyone that reaches out to be wealthy. At an early age, in addition to attending university to obtain a Bachelor of Business (Major in Accounting), I read self-help books profusely. From Steven Covey, Dale Carnegie, Anthony Robins, Brain Tracey plus many more. Having listened to tape series from the best, attended numerous seminars. All of which have helped gain more knowledge and insight in what it takes to be successful. What better place to invest in, than yourself.
In 2009 he wrote “How to Win the Game of Life” a self help book based on what he discovered, from experience to work.
While the purpose of this book is to show the reader how to make more money and keep it (with tax saving ideas), he wanted to outline ways to actually change the readers mindset, to a more positive abundance view on life and success.
There is a magic formula that you can apply that works every time to make you lots of money to lead a fulfilling and rewarding life.
Part of that formula is dealing with the intangible and emotional factors that affect us all. As emotional human beings., life affects us in different ways. The other part is having the knowledge to achieve your aims. The book gives you both of these.