Tax Planning Starts Now

There are 5 key things all business owners must consider right now. Some of them are brilliant wealth creation ideas. Please read on…

30 June will be here before we know it. Let us help you get the most out of the upcoming months.

Too often, we end up suffering because we have procrastinated and not made a positive decision to do something. If we all leave your tax planning until the end of May and early June, quite frankly there may not be enough time to do anything significant to legally reduce your tax.

So, for 2017, our invitation to you is to start now with your tax planning.

5 Key Tax Planning Strategies

Over the next five weeks, we will be publishing one blog per week covering one of our five key tax planning strategies. These are:

The Secrets to Tax Planning
Last Chance for big super contributions
Why use a “bucket” company?
Why use a SMSF?
Trust Distribution Resolutions before 30 June

So, keep an eye out for our blogs over the next 5 weeks, and we’ll outline in detail for you how to save $ and at the same time grow your family’s wealth in a low-risk manner.

How our tax planning service works

1	First, we request from you details of your expected income and business profits for the 2017 tax year (1 July 2016 to 30 June 2017). This includes all: wages / employment income interest, dividends and rental income received business profits / losses; and any capital gains / losses you expect to make. Based on this information, we estimate your taxable income and your tax payable before any tax planning strategies. For example, we may calculate (based on your information) that you have a taxable income of $100,000 for 2017. This would result in $26,632 tax and Medicare levy payable.
2	Secondly, we discuss all your tax planning options. Some of these may be things to do in your business, and some of these may be investment / wealth creation options.
3	Third, we provide you with a report that explains in plain English the tax planning strategies we recommend and exactly how much tax you will save.
4	And finally, we provide you with an easy-to-follow action plan to ensure that both you and we can do everything that needs to be actioned before 30 June.