Advanced Tax Planning
Tax planning can be performed at any time of the year, the most common time to do this is just prior to the end of the Financial year when actual figures can be used to assist in the estimate for the full financial year. By estimating the income for the year we can determine an estimate of tax payable to the Tax Office for that particular financial year. We have numerous strategies that can be employed to minimise the amount of tax payable, for example Farm Management deposits, superannuation and equipment leasing just to name a few.
We have a very systematic approach to tax planning to allow us to project income and estimate tax payable for most of our business clients in the later part of May and the month of June. Our clients find this extremely beneficial to their cashflow budgeting.