Hello, I'm really, really new to the investment world and have a few questions. While I'm coming from a family with no investment tradition, I've been lucky enough so far and managed to start what appears to be a good career. I am now married and have a baby, and I guess it's time to start being wise with money and get educated about investing it the right way. I read a few books that really changed my perspective on things (Rich Dad, Poor Dad was the one that had greatest impact on me), opened my eyes and made me realize that I am not at all prepared for this. I am on a pretty good income (around $100k/year before tax), and my better half is on around $60k before tax. We have just bought our PPOR in our names and took advantage of the FH benefits. Debit-wise we have the mortgage and a personal loan for one of our cars, and so far have been paying the credit in full each month. The only other major expense is child care/education. We are still young, so our super has just started. Right now we have around 20k in redraw and choose to use any spare money to make additional repayments to our PPOR. However, this doesn’t do a thing for our taxes. Only one of us (me) get to claim car expenses, but that’s pretty much it. We are paying a lot of tax, and I realized there are better ways to use that money. Here is where the questions start: 1. I heard a lot about the benefits of family/discretionary trusts. Would they allow us to transfer our income (salaries) into the trust and then distribute it? 2. If so, what is the mechanism of transferring the income to the trust? 3. If not, how does a trust help with lowering the tax obligations? Do we need to use post-tax money to loan/gift it to the trust and then acquire assets in the trust and then claim expenses/deductions associated with that asset? 4. What are some basic strategies to better use our money? I realize we need a good accountant, please don’t tell me that! However, before speaking to one I probably need to get a better grasp of the different options available, and then talk to someone that can provide detailed information about what is best suited for us. Btw, does anyone know a good accountant in ACT ? We are in neighbouring NSW. Thank you.