question
Q: Hi Guys, I currently earn about $80K PA, my wife earns about $25K PA. Im 50 and my wife is 48. We have a standard fixed home loan of $470K. I have $600K invested. Car loan of $70K and a credit card with $25K max, $7K owing. Ive just done my 2016 tax return and have to pay the ATO back $6K :( They now also want me to advance quarterly payments of $2K starting in July. WTF!!! What can I do to reduce my income tax??? I am definitely not a rich man, but Im sure the ATO think I am!!! HELP??
