- reduce your home loan
- top up your super
- have a holiday
- deposit for an investment property
- pay for your children’s education
- upgrade your car
Too often, we end up suffering because we have procrastinated and not made a positive decision to do something. If you leave your tax planning until the end of May or early June, quite frankly there may not be enough time to do anything significant to legally reduce your tax.
So, for 2017, our invitation to you is to start now with your tax planning, and let us help you get the most out of the upcoming months.
5 Key Tax Planning Strategies
Over the next five weeks, we will send you one email per week covering one of our five key tax planning strategies. These 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
So, keep an eye out for our emails over the next 5 weeks, and we’ll outline in detail for you how to save $ and at the same time grow your family’s wealth in a low-risk manner.
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.
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.
- Secondly, 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.
- Third, we provide you with a report that explains in plain English the tax planning strategies we recommend and exactly how much tax you will save.
- And finally, we provide you with an easy-to-follow action plan to ensure that, together we can do everything that needs to be actioned before 30 June.
Contact us today to get started! Don’t wait until June, now is the time to have a chat to us.