Minimise my tax

Financial planning is the first step to building wealth and giving you the financial freedom you desire. Your personalised plan takes into account your current situation, where you want to be in the future, and how best to get there by managing the flow of your finances to achieve the future you’ve always pictured.

There are many elements that are taken into account to achieve your financial plan: your attitude towards risk, your time horizon, investment choice, cashflow and borrowing capacity.

Our investment specialists can create an investment solution that delivers you the financial outcome you’re looking for, whilst ensuring your tolerance for risk is appropriately managed. Investments can be short, medium or long term and we work with you to ensure the time horizon of your investments is aligned with your liquidity requirements and financial goals.

Tax planning helps to forecast expected tax-related cash flows in the year to come so that there are no surprises. 

It's all about planning ahead, to get ahead.

The key cash flows in tax planning are:

• A refund or payment of the final tax; and
• PAYG instalments for business or investment income. 

Knowing how much and when these payments are due can help ease cash flow burdens and prevent any nasty surprises. 

Another benefit of tax planning is the ability for your adviser to identify actions you can take pre-30 June to reduce your tax bill or improve your cash flow.

• Pay superannuation liabilities to obtain a deduction a year sooner;
• Bring forward other expenses to obtain the deduction this year;
• Make additional superannuation contributions to increase you super balance while reducing your personal tax; and/or
• Varying down instalments so you don’t overpay tax and have to wait until your return is lodged to receive the cash back. This additional cash today may be put to better use paying other bills or used to reduce your debt(s).

The sooner you have your annual tax planning meeting the sooner you can attend to any of the above or other recommendations from your advisor to take action now to improve your business or personal position.