TAX AND COMPLIANCE
Too many business owners fail to manage their tax position which often means they pay too much tax or unnecessarily incur fines and interest penalties. Others are operating under the wrong taxation structure which could jeopardise their eligibility for valuable capital gains tax concessions on sale. GST, BAS and income tax payments often represent some of the largest financial obligations of a business. Failing to plan for your taxation commitments can play havoc with your cash flow. Knowing the timing of and amount of future tax payments can identify likely shortfalls and lets you plan a funding strategy. It is critical that you understand, plan and manage your tax obligations.
Our objective is to help clients structure their business and tax affairs to achieve the most favourable tax outcome. We are alert to our clients’ needs and take a pro-active approach to tax planning and encourage client meetings well before the end of the financial year to consider tax effective strategies including:
Legally Reduce your Annual Income Tax Liability
Minimise the Capital Gains Tax Liability on Sale of Assets
Maximise the CGT and GST relief in handing over the family business
Maximise the Tax Relief available on Retirement
Most business decisions have taxation implications and we work with you to make sure you make informed business decisions. For example, we recommend you consult with us before buying or financing a vehicle for the business, restructure any business loans or sell an investment property. Call our office today and benefit from our tax knowledge and experience.