Tax planning that helps you pay on time, and reduce your tax
Worried about having enough set aside for your future tax obligations? We help you understand what you’re likely to pay, when it’s due, and how much you’ll need to have put aside so you’re not caught short, or incur those awful ATO interest charges.
Tax planning involves a bit of back-and-forth between you, the business owner, and us, the accountants. The plan can be put together at any point, but we do like to do it at least 3-6 months before the end of the financial year. This gives us time to review your past payments and forecast your future obligations, and map out what you need to put aside.
This proactive strategy relieves you of a lot of financial stress and keeps you on track.
We will also let you know of any tax strategies you can take advantage of to reduce your tax, without breaking the ATO’s rules.
Here’s what proactive tax planning can help you achieve
We’ll provide you with forecasts and dates for payment, so you know how much to tuck away each month to pay the ATO when it comes due.
Meet ATO deadlines
We’ll give you notice and let you know what your actual obligation is for each BAS and your annual return, and when its due, so you can pay on time.
Make informed decisions
Business decisions can impact your taxation. We help you understand the financial consequences so that you can make informed, beneficial choices.
Tax planning is as much about the future as it is about the present. Get expert advice on super, estate planning, and more.
Seize new opportunities
We keep you up to date with new tax developments so that you can take advantage of new rules and guidelines.
Pay less tax
We make sure you don’t pay one single dollar more than you have to. And that means more of your hard-earned money in your pocket.
Tax planning strategies to reduce taxes
Here are just some of the strategies we use to help our clients pay less tax:
- Allocating some of your profit to your superannuation or SMSF
- Spreading your earnings out among other people or entities that pay a lower tax rate than you, such as your kids or partner
- Using your super to pay income protection insurance
- Writing off bad debt before June 30
Everyone’s unique. Throughout the tax planning process, our team will get to know you, your business, and your goals. From there, we can create and implement a personalised, money-saving tax strategy and detailed plan.
“I have been a client of Rachelle and Clarity Taxation for almost 10 years now, first starting off with my own tax and then getting assistance with setting up my business and everything that goes with that. No matter how big or little the question or request, Rachelle and the team are there to help. I could not be where I am in my business today without the guidance and assistance from Rachelle, she is truly an amazing accountant and an incredible person. I am always so grateful to have the Clarity Taxation team as part of my business for accounting, guidance and so much more.”
Loretta Batten, Safe Lace
Get your tax plan in place now
Plan your payments schedule, and let us help you reduce the amount you pay, while still meeting all of the ATO’s rules and guidelines. Get in touch with our proactive tax experts today.