Unfortunately Australia is not one of them. Indeed the majority of developed countries aren’t either. There are ways to legally minimise your tax obligations of course. Why else do tax experts hired by the filthy rich even exist?
“Offshore” aside there are tax structures available to you within Australia that can help. The easiest way for you to get the low down is to speak to your tax accountant. Professional advice of this nature usually will cost. You can do it on the cheap by teaching yourself. Go to Borders while it’s still in business, pick up a book on tax structures, sit down and read it. It won’t make sense to you now but it will slowly but surely come together for you.
Surprisingly the ATO website is unwittingly helpful in this regard. It provides a fair amount of information on what to do by telling you what not to do. Read it. You will be richer for it.
If you prefer byte sized chunks of information thrown at you every now and then on asset protection and the like have a look at Q-wealth. For the price you pay per year, it provides quite a valuable resource.
Now, while you discover the world of asset protection, tax structures, offshore trusts and international banking its always good to take your mind away every now and then from all the nitty grity to somewhere more relaxing, peaceful, tranquil and income tax free.