For the best possible outcomes for your business, preparation for tax time should start before the end of the financial year. For the 2017/18 financial year, this means now.
In our experience, when a business owner takes a proactive tax planning approach, tax-effective strategies can be put in place that significantly benefit the business.
Strategic tax planning and business advice can make a significant difference to your bottom line. Our approach extends beyond tax compliance to include practical advice, clear steps and hands-on assistance to achieve the most appropriate strategies for your business.
By starting now and looking ahead, you will be able to anticipate and consider decisions that affect your business’ tax position. These include major asset purchases, funding decisions, depreciation of assets, superannuation contributions and claimable tax deductions. We can then help you plan ahead to implement strategies which can be much more tax effective.
It’s not too late to take action this financial year, however your business could be missing out on optimal outcomes relating to tax deductions and concessions if you leave your tax planning until the last minute.
To position yourself even more strongly for 2018/19, we recommend that tax planning should start in July.
Doing so will enable you to take a ‘big picture’ approach and identify matters that impact on your tax position. We can then work with you to plan accordingly to achieve benefits for your business and personal prosperity as business owner.
Our tax strategy services include:
Tax returns – for individuals, partnerships, companies, Trusts and SMSFs;
Bookkeeping solutions specific for your business needs;
Cloud-based accounting for improved efficiency and to reduce non-compliance risk;
Financial Statements – preparation of monthly and annual statements for business management and compliance needs;
BAS Agent Services – preparation of Business Activity Statements, business activity reviews and assistance with GST returns;
Tax Planning – assistance to legally minimise the tax you pay through effective strategies and careful tax planning;
Wealth Creation – Expert investment advice and strategies including structuring, negative gearing and general investment advice;
Tax Debt Help – Assistance with managing tax debt including liaising with the ATO on your behalf.
While you may not be able to achieve optimal tax outcomes this financial year, we encourage you to put tax planning strategies in place at the start of the new financial year. It could make a significant difference to your business and personal outcomes. Make this your last year to prepare your business books by looking backwards instead of forwards.
Australian tax laws are complex, so it’s vital to seek advice. If you would like to know more about effective tax strategies for your business, I encourage you to give us a call on 03 9708 8801 or email info@rvpartners.com.au to discuss your business needs.
At Robinson Voss Partners, we have over 40 years combined experience and expertise in accounting and specialised tax issues.
General Advice Disclaimer: The information contained within this document is of a general nature only and neither represents nor is intended to be personal advice on any particular matter. Robinson Voss Partners (RV Partners) strongly suggests that no person should act specifically on the basis of the information in this document, but should obtain appropriate professional advice based on their own personal circumstances.
