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Tax Planning

As part of our service, we also provide clients with the opportunity to have a tax plan completed each financial year.  Tax plans are usually conducted between March and June each year and involve reviewing your information for the financial year to date, estimating income and expenses for the remainder of the financial year and making recommendations on ways you can legally minimise your tax obligations.

By way of example, tax planning may involve the following recommendations:

  • The appropriate use of superannuation contributions
  • Deferring income where possible
  • Reviewing income received for any income received in advance
  • Bringing forward expenditure that will be incurred in the foreseeable future
  • Utilising Government incentives (e.g. Investment Allowance, Small Business Write Off)
  • Farm Management Deposits
  • Effective use of both income tax losses and capital losses
  • Negative gearing opportunities
  • Expense prepayments e.g. leasing rent
  • Assessment of tax benefits on fixed asset acquisitions

We strongly believe that proactive tax advice is truly a value adding exercise. Contact the Option Accounting team today on 1300 878 898.