Control, Alt + Delete

Written on the 13 April 2015

What does the word control conjure up in your mind?

Immediately for me I think of the control key on a computer keyboard; for my husband it's the TV remote control.

When I Googled the word, Wikipedia alone came up with over 2 dozen Control definitions and explanations. (Sometimes I wonder why non English speaking people struggle with our language.)

Among those definitions/explanations, the ones listed under Finance were:

  • Control (management), an element of management
  • Control freak, a person who attempts to dictate how everything around them is done
  • An element of management accounting
  • Internal control, a process implemented in an organisation to help in achieving specific goals
  • Comptroller (or controller), a senior financial officer in an organisation
  • Foreign exchange controls, regulations on trade

The top 4 of these definitions resonated with me. (Especially Control Freak loved seeing that in a dictionary). Tax Control came to my mind recently when getting all of my papers and reports ready for my Accountant to prepare our tax returns. Tax under Control or out of control is often bandied about in general conversations.

Most of us are looking to pay as little tax as possible and begrudge it when we see our Group Certificate or Tax Assessment with the amount of tax paid or due from earnings listed. No one likes paying tax but everyone must do their bit so we can continue to enjoy the lifestyle we are accustomed to.

If there are ways to legally minimise tax, why not take advantage of them.

Two options that immediately come to mind are:

  1. Salary Sacrifice into Super.
  2. Negative gearing.

Both of these options help us accumulate passive assets and at the same time reduce our taxable income therefore reduce our tax.

If we can accumulate sufficient assets within superannuation and eventually convert into a pension plan*, (not to be confused with the Age, Disability, Widows or any other Government pension) we can ensure that we never have to pay out of control tax in retirement. (* under Current Australian Legislation.)

Contact us today to discuss your options further.


Any advice in this website is general advice only. The content has been prepared without taking into account the investment objectives, financial situation or particular needs of any particular person. Before making a decision about any information contained on this website you should carefully consider the appropriateness of the information in light of your personal circumstances in addition to the information provided in the PDS of the relevant financial product. You should also consider seeking professional advice from your financial adviser.

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