High-wealth individuals who operate their businesses through a company structure should consider retaining funds within the corporate entity instead of receiving a wage or dividend to stay below the $250,000 threshold. In cases where exceeding the threshold is unavoidable, it may be worth taking a financial hit in one fiscal year and staying below it in the surrounding years.
Note: This information is for general guidance only and may not suit your individual circumstances. Please consult a qualified professional before taking action.
