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Tax Minimisation

While the ATO has an aggressive campaign to stamp out tax evasion, there are many strategies that can be used to reduce your tax and still remain compliant with Australian taxation laws.

When you run your end of year Profit & Loss report, the net profit shown is just the starting point.  From here the team at SB Partners will identify what deductions are allowable within the tax compliance framework and they’ll consider things you probably haven’t thought of.  The team works hard on your behalf to reduce the profit you declare so you’ll pay less tax.

 

We’ll also discuss actions you can take before the end of the financial year to reduce your tax obligation.  This includes things like:

  • Making after-tax contributions to your super
  • Pre-paying interest in advance
  • Bringing forward purchases so the expense occurs in the current tax year
  • Using tax offsets and rebates
  • Taking advantage of current opportunities within the law and the latest budget announcements
  • Effectively utilising your structure to enhance outcomes
  • Managing your inventory levels, receivables and payables at 30 June to provide efficient taxation planning
  • Assets acquisitions
  • Remuneration strategies
  • Dividend policy
  • Integration of superannuation income streams with a contribution strategy
  • And many other actions – the list goes on and on and is suited to your individual operations

Our tax services also include:

BAS & GST

The end of each quarter doesn’t need to be stressful – whether you need us to compile your BAS return for you or just cast an eye over your return, we’ll keep your quarterly returns simple

End Of Year Tax

The end of the financial year brings compliance requirements and it’s a great time to review plans for the next year

Fuel Tax Credits

If you use fuel for running plant, machinery or heavy vehicles we’ll help you get credits for the tax you’ve paid.

Fringe Benefits Tax

If you provide your staff with benefits in lieu of wages you may need to pay fringe benefits tax

Capital Gains Tax

When certain assets appreciate or depreciate, there are tax implications for the gains or losses