Nearly everything to minimise your taxable income needs to be done prior to June 30.

Is it fair then to expect your accountant to be able to help when you arrive with your shoe box of paperwork in August each year?

ATO requirements now mean that even Family Trust distribution minutes need to be decided and finalised by June 30 which means all planning must be done prior.

With the provision of financial advice in Australia being one of the most highly regulated in the world, most accountants aren’t licensed to provide personal financial  advice which means they are restricted in guiding you on reducing tax, despite being highly competent.

So is it really reasonable to expect your accountant to manage your tax situation when their hands are tied by legislation and your lack of preparation?

We aren’t accountants but we are a highly organised financial advice and strategy management team who can ensure your affairs are coordinated well and we work closely with your accountant so that you get great outcomes.

When our clients go to their accountant, we have already sent a letter outlining all the smart tax planning strategies that were implemented prior to June 30. We provide them with the necessary documents and a checklist for anything we don’t have, so they can prepare the tax return. We then review this draft return before it is lodged to ensure the accountant was actually sent everything which maximises the chance of our clients get the refund outcome planned for.

Last week one of our advisors spent part of their day outlining a loan strategy to a client’s accountant to manage the tax on a large bonus. They wanted to check the accountant was happy with the strategy and to ensure they are aware of what we could setup prior to June 30. Of course the accountant really appreciated being included in this process and having the opportunity to have input. To us, it’s just the way it should be.

We deliver outcomes using strategies like:

  • Negotiating lower interest rates and interest in advance loans to being forward large deductions;
  • Powerful super investment strategies so your superfund potentially pays less tax on your super contributions which are now 30% for those earning over $300k pa;
  • Carefully designed negative gearing strategies for high income earners;
  • Passive income Investment strategies which can often be tax free;
  • Structuring personal insurance so it is tax deductible to reduce the cost of being insured.

So who has your back leading up to June 30 each year?

If you would like to discuss how we could help you then let’s talk sooner rather later as time is ticking and at this time of the year we limit new client intake to ensure we can deliver. Contact us!

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