Tax planning starts now

Tax planning man looking ahead at road

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

If you’ve left your tax planning until the end of May and early June, then the time remaining to legally reduce your tax is getting very tight.  It’s advisable to contact us now to get this under way, and probably start making plans for next year at the same time – tax planning really needs to be a year-round process.

Five key ideas in your tax planning strategy

We’ll publish as much information as we can over the next few weeks about these ideas, but the best thing would be to discuss them with us, including how they affect your situation. Those ideas 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.

Let’s talk about those ‘secrets’.

The secrets to tax planning: how our tax planning service works



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.

If we maintain your monthly accounting then we will have a head start on a lot of this information.

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.

2Secondly, 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.
3Third, we provide you with a plain English recommendation about the tax planning strategies you can adopt, and exactly how much tax you will save.
4And 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.


Contact us today to get started!

General advice warning: The advice provided is general advice only as, in preparing it we did not take into account your investment objectives, financial situation or particular needs. Before making an investment decision on the basis of this advice, you should consider how appropriate the advice is to your particular investment needs and objectives. You should also consider the relevant Product Disclosure Statement before making any decision relating to a financial product.]