Tax/Wages question?

  1. 274 Posts.
    I am currently looking at ways in reducing the amount of tax I pay. I was wondering if someone could help with a possibile scenario.

    eg. If I earn say $10000/month aprox $4000 goes to the tax man = $6000 in hand.

    If I start a company as a consultant. I get paid say $10000/month in consultant fees. Which means I pay no tax until I file my tax return.

    Which means I could theoretically use the $4000/month in some sort of negative gearing investment?

    Does anyone else think this is a good idea?

    Any opinion good or bad welcome.
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