- This is an excerpt from The Mindful Wealth Movement. Online course and workshops launching soon.
Last year, I was lucky enough to hear Wayne Dyer speak in Brisbane, just a month or so before he passed away. Wayne was an internationally renowned author and speaker in the field of self-development and wrote more than 40 books, 21 of them NY Times best sellers! He was an inspirational man with a unique view of the world.
One thing that Wayne said when he was speaking last year really resonated with me and has stuck with me ever since...
“If we change the way we look at things the things we look at will change’’.
In order to take a more mindful approach to wealth we first need to change some of the perceptions and beliefs that we may hold about money. Sometimes these beliefs may have been with us for a very long time, perhaps even for our whole life.
Let me explain using an example.. I know for the most part, the majority of us aren’t too fussed about paying tax. Often I sense slight resentment about having to part with our money and pay it to the tax office.
But what if I told you that paying tax was actually an act of generosity and something to be grateful for… would you laugh?
Let me explain: We only start paying tax as adults when we earn income or make money through the sale of an asset that we own. Currently, we aren’t required to pay any tax until we earn over $18,200 per year. The amount of tax we pay increases as our income increases. So the more we earn, the more tax we will pay. If we have low income or are elderly, then we’re generally provided with a tax offset to assist in reducing the tax we pay.
When it comes to paying tax, often people feel some resentment for having “lost” a portion of their hard-earned money. Some people even go to crazy lengths to avoid paying tax altogether!
But what if instead of viewing tax as something we are losing... we viewed it as something we were giving?
Viewing it as our contribution to creating a safer and better society and helping others who are in need.
We often fail to consider how our money is being used for good to improve things like healthcare and education, supporting the elderly and sick and those people unable to work. It also goes towards protecting our environment as well as providing support to indigenous Australians and foreign aid to other countries in need.
Let's assume you earn $50,000 each year then your tax bill to the Australian Tax Office (ATO) last year (in 2015) would've been $7,797. This money would have been spent as follows:
Thinking about tax in this way shifts our perspective from a negative to a positive. We realize that we are all contributing to a strategy to make Australia a better place and to support us, it’s citizens. So the more tax we pay, the more help we are providing to others.
Paying tax can also be a way to practice gratitude.
We are very lucky to be able to live in this beautiful country, earn a living, pay tax and supporting the country and its people.
Don’t you think?
* If you'd like to see exactly how much support you’re providing Australia and its people, based on your income. You can check out this nifty calculator by smh.com.au here.
* In posting this blog, I’m not making a statement on whether I agree or disagree with Federal Government policy or budget spending and allocation of taxpayer’s money. I am merely trying to illustrate that sometimes we can turn a negative into a positive just by changing the way we look at things.
* To sign up for updates on the launch of The Mindful Wealth Movement online course and workshops, please visit www.themindfulwealthmovement.com