Tax Planning

As part of our service, we also provide clients with the opportunity to have a tax plan completed each financial year.  Tax plans are usually conducted between March and June each year and involve reviewing your information for the financial year to date, estimating income and expenses for the remainder of the financial year and making recommendations on ways you can legally minimise your tax obligations.  By way of example, tax planning may involve the following recommendations:

  • The appropriate use of superannuation contributions
  • Deferring income where possible
  • Reviewing income received for any income received in advance
  • Bringing forward expenditure that will be incurred in the foreseeable future
  • Utilising Government incentives (e.g. Investment Allowance, Small Business Write Off)
  • Farm Management Deposits
  • Effective use of both income tax losses and capital losses
  • Negative gearing opportunities
  • Expense prepayments e.g. leasing rent
  • Assessment of tax benefits on fixed asset acquisitions

Our business services and taxation directors have over 200 years tax experience combined and believe strongly that proactive tax advice is truly a value adding exercise.