Business and tax planning
Is it time to review your business position?
We can produce interim or end of year financial and management reports which can assist you in decision making process.
Would your business be more successful with a different business structure?
The right business structure is essential to both the initial success of your business and its ability to grow, remain flexible, be tax-effective, protect assets and minimise your costs. If you start as a sole trader and, as your business grows, you are considering a change to your business structure to take on a partner or register as a company or trust, be sure to understand all of your options. Choosing the right business structure is an important decision, so to decide which structure best suits your needs each option should be considered carefully.
Is it the time to review which strategies can be used to minimise your tax?
Here are some ideas of how you can minimise your business and individual tax:
Adjust business structure (if required)
Make a personal superannuation contribution and claim a tax deduction
Maximise tax deductions, e.g. purchase tools of trade
Use new depreciation rules, e.g. instant asset write-off up to $30,000
Choose the best available method when claiming motor vehicle expenses
Consider concessions available regarding capital gain tax
Write off bad debts
Use small business concessions (if applicable)
Take up private health insurance
Maximise tax offsets, if eligible
Invest in negatively geared investment property
Please get in touch to learn more about how we can help with your business and tax planning needs.