Here are 5 key strategies all practitioners must consider now to take advantage of tax reduction benefits for the upcoming tax season!

BLOG - Tax Planning Starts Now

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

Everybody is busy – work, school, kids, life. But, just taking a couple minutes for tax planning before the season is in full swing will help us help you find the most efficient and legal tax reduction remedies.

5 Key Tax Planning Strategies

  1. The Secrets to Tax Planning
  2. Last Chance for big super contributions
  3. Why use a “bucket” company?
  4. Why use an SMSF?
  5. Trust Distribution Resolutions before 30 June

How our tax planning service works

1

 

First, we request details of your expected income and clinic profits for the 2017 tax year (1 July 2016 to 30 June 2017). This includes all:

 

  • Wages / employment income
  • Locum or contractor income
  • Interest, dividends and rental income received
  • Business profits / losses
  • 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

Second, we discuss all your tax planning options ranging from strategies within your practice to investment and wealth creation.

 

3

Third, we provide you with a report that details the tax planning strategies we recommend and exactly how much tax you will save.

 

4

And, finally, we will provide an easy-to-follow action plan to ensure that everything can be actioned before 30 June.


Contact us today to get started!

General advice disclaimer 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.