Are you paying too much tax? There are a lot of ways to reduce your tax bill legally and easily but the key is early planning. If you leave it till after the end of financial year it can be very hard to do anything about your tax bill, effective tax planning includes:
- Tax effective structures and distributing income to your family
- The principles of tax effective investing
- Maximising the tax deductions available to you
It is truly amazing what accurate tax planning can achieve in a lot of circumstances after all one of the best things about running your own business is the ability to plan your tax position to minimise your tax bill. Our Parramatta and Chelsea offices specialise in working with business owners in particular to get their tax planning right – by planning ahead you can often save tens of thousands of dollars in tax.
We do a lot of work in this area and often pick up common deductions and easy steps that can make a large difference to the amount of tax you pay, especially over the long term. Please call the office contact our Tax Accountants here.