05 Apr Tax Planning Starts NOW!
There’s five key things that all business owners MUST consider RIGHT NOW. Please read on!
30 June is only 13 weeks after the beginning of April. It’s not a long time at all. This year let’s try and use all of them.
3 Key Tax Planning Strategies
- Establish a Self Managed Super Fund (SMSF) – How to make it your family’s wealth VAULT and legally pay NIL tax at retirement.
- Trust Distribution Resolutions needed BEFORE 30 June 2015 – or pay up to 49% tax on trust profits.
- General tax planning strategies – Key items that mean $ in your pocket.
How our Tax Planning Process works
First of all, we request from you details of your expected income and business profits for the 2015 tax year (1 July 2014 to 30 June 2015). This includes all wages / employment income, interest and 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 may have a taxable income of $100,000 for 2015. This would result in $26,947 tax and Medicare levy payable.
Secondly, we discuss all of your tax planning 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 both you and we can do everything that needs to be actioned before 30 June.
Talk to us TODAY about your Tax Planning requirements!