Your Tax Planning Specialists
If one of your goals this year is to gain better control of your finances, then tax planning should be somewhere in your master plan.
Tax planning is the strategic planning of affairs to minimise tax liability and maximise tax savings within the law’s intent. Simply put; it is the process of analysing one’s financial situation, implementing structured changes to ensure the lowest tax outcome.
Tax planning generally focuses on three objectives:
- reducing income
- increasing deductions
- taking advantage of lower tax rates available
These objectives are achievable through three core tax planning strategies:
- shifting income to a lower tax-paying entity
- adjusting profit/loss between years
- more tax-efficient investing
Tax is complicated, and compliance is essential. Hence, to identify and leverage any possible tax concessions and savings, advanced knowledge of the tax laws and regulations is necessary. Grow Advisory Group have the needed expertise to minimise your tax and help achieve your key objectives.
How Tax Planning Can Help
Whether you’re a business owner, investor, or individual, tax planning can be incredibly beneficial to your bottom line. It is the best tool for optimising your tax position; setting you up for lower taxes and higher tax returns.
Additionally, tax planning can also offer insightful projections that allow you to avoid any unpleasant and often expensive surprises, budget for the next year of tax payments, and make better-informed decisions that could reduce your tax liability. All this can significantly aid in managing cash flow in the high and lows of your business.
Some of the most common strategies we turn to include:
- Making deductible superannuation contributions
- Deferring income where possible
- Reviewing and writing off any bad debts
- Exploring negative gearing opportunities
- Effective use of both income tax losses and capital losses
- Checking the timing of your invoices
- Expense prepayments e.g. leasing rent
- Review your inventory at year-end
- Leveraging small business concessions
- Assessment of tax benefits on fixed asset acquisitions
Our Process
Grow Advisory Group understands that everyone’s circumstances are different; therefore, each tax planning strategy is unique. We go through a four-step process to devise a tailored plan to help you achieve the lowest tax outcome. Our process is as follows:
Step 1: Review and Analysis
Step 2: Choose tax planning strategies
Step 3: Reporting
Step 4: Implementation
Tax Planning for Businesses
Is your business as tax-efficient as possible? Grow Advisory Group will set your business up to receive the maximum tax return, while still fully complying with your tax obligations. Our tax accountants can devise tailored solutions to meet businesses and companies’ needs, regardless of the structure.
Our Gold Coast tax planning services can help with:
- Annual tax estimate preparation
- Structuring businesses to achieve maximum tax-efficiency
- Tax estimate scenarios
- Cash flow forecasts and modelling
- Tax-effective exit strategies
- Depreciation and capital works expenditure
- CGT estimations
- Deployment of small business CGT concessions
Regardless of what stage your business is at, our experienced Gold Coast tax planners can help. Our focus is to generate, develop, and protect your wealth, setting you up for a secure and prosperous future
Tax Planning for Individuals
Are you paying too much tax? Take control of your finances and set yourself up for success with Grow Advisory Group’s tax planning services. We formulate our tax estimates based on your individual needs and requirements to help minimise your payable tax. We can help you decide where to direct your funds before the end of the financial year and make informed decisions about your assets.
Our Gold Coast tax planning services include:
- Annual tax estimate preparation
- Specialist taxation advice
- Tax Planning optimisation
- Tax estimate scenarios
- CGT estimations
- Taxation audit assistance
- Fringe Benefits Tax
- Negative Gearing strategies
- Investment property estimations
- Superannuation contribution scenarios
Our expert Gold Coast tax planners will guide you in the right direction to minimise your tax and get you the best tax result possible.
Grow Advisory Group: Tax Planning Made Simple
At Grow Advisory Group, we know tax planning can feel like a maze. But with the right guidance, it’s a maze you don’t have to navigate alone. We’re here to help you plan ahead, make smart decisions, and reduce your tax bill—all while keeping things simple and stress-free.
Let’s look at how we can make tax planning work for you.
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Tax Planning Optimisation
Your roadmap to paying less tax.
Effective tax planning involves not only fulfilling compliance requirements, but also anticipating future needs and identifying methods to preserve your financial resources. We will collaborate with you to identify strategies that are tailored to your specific circumstances, whether it involves maximising deductions, leveraging concessions, or strategically planning income and expenses. With our help, you’ll feel confident knowing your tax plan is working as hard as you do. -
Superannuation Contribution Scenarios
Boost your retirement savings while cutting your tax.
Superannuation isn’t just about your future—it’s a powerful tool for saving on tax today. We’ll guide you on the best contribution strategies, whether it’s concessional or non-concessional, to help you reduce your taxable income and grow your retirement savings. From navigating annual caps to planning end-of-year contributions, we’ve got your super covered. -
Annual Tax Estimate Preparation
Stay ahead with a clear picture of your tax obligations.
No one likes surprises at tax time. That’s why we provide annual tax estimates to help you prepare for what’s ahead. By understanding your liabilities early, you’ll have the confidence to manage cash flow, plan for payments, and even make strategic decisions to reduce your tax bill before the end of the financial year. -
Tax Estimate Scenarios
Plan smarter with “what-if” tax planning.
Ever wondered how different decisions could impact your tax? We’ll create detailed tax estimate scenarios to show you the potential outcomes of different strategies, like selling an asset this year versus next, or adjusting your income. It’s all about helping you make informed, tax-smart decisions. -
Capital Gains Tax (CGT) Estimations
Planning for asset sales, without the surprises.
Selling a property, shares, or a business? Before you make a move, let us help you understand the potential tax implications. We’ll estimate your CGT liability, explore exemptions, and show you how to time sales for maximum benefit. For small businesses, we’ll ensure you take full advantage of CGT concessions to keep your tax obligations to a minimum. -
Deployment of Small Business CGT Concessions
Big savings for small business sellers.
If you’re a small business owner selling assets, you could save big with CGT concessions. We’ll help you navigate the rules, from the 50% active asset reduction to the retirement exemption, so you can reduce your tax liability and keep more of what you’ve earned. -
Fringe Benefits Tax (FBT)
Keeping employee perks stress-free.
Offering perks like cars, meals, or accommodation to your team is great for morale, but it can also come with tax implications. That’s where we come in. We’ll help you calculate and manage FBT so there are no nasty surprises, and we’ll work with you to reduce FBT costs wherever possible. -
Negative Gearing Strategies
Making property work for your wallet.
If you’re a property investor, negative gearing can be a powerful tool to reduce your taxable income. We’ll help you understand how to make it work for you, ensuring your property investments are not only sustainable but also contribute to long-term wealth building. From interest deductions to expense management, we’ve got you covered. -
Structuring Businesses for Tax Efficiency
Setting your business up for success.
The way your business is structured has a big impact on how much tax you pay. Whether you’re starting out or looking to restructure, we’ll guide you toward the most tax-efficient setup—be it a sole trader, partnership, trust, or company. Our goal? To save you money while keeping things simple and scalable for the future. -
Tax-Effective Exit Strategies
Exiting your business, without a hefty tax bill.
Whether you’re selling your business, retiring, or passing it on to family, we’ll help you do it in a tax-effective way. From managing CGT to planning the timing of your exit, we’ll make sure you walk away with as much in your pocket as possible, while staying compliant with the tax rules. -
Depreciation and Capital Works Expenditure
Getting the most out of your investments.
If you own property or business assets, depreciation and capital works deductions can significantly reduce your taxable income. We’ll help you identify what you’re entitled to claim and guide you through the process, so you’re not leaving money on the table. From buildings to equipment, we’ll make sure every dollar works in your favour. -
Investment Property Estimations
Know where your property stands.
Owning an investment property comes with plenty of tax opportunities—and obligations. We’ll help you estimate your liabilities, from depreciation schedules to capital gains tax, and identify ways to maximise deductions. It’s about making sure your property works for you, not against you. -
Cash Flow Forecasts and Modelling
Plan ahead and stay in control.
Tax planning and cash flow go hand in hand. We’ll help you forecast your cash flow to ensure you can meet your tax obligations without financial stress. From handling seasonal fluctuations to planning for major payments, we’ll make sure you’re always one step ahead. -
Taxation Audit Assistance
Got an audit? We’ve got your back.
An ATO audit doesn’t have to be stressful. We’ll help you prepare all the necessary documentation, handle communications with the ATO, and resolve issues quickly. With our support, you’ll stay compliant and protect your peace of mind. -
Tax Minimisation
Pay less tax, the right way.
When it comes to tax, every dollar counts. Our tax minimisation strategies are designed to reduce your tax burden legally and effectively. From identifying deductions and offsets to restructuring income and investments, we’ll tailor a plan to your unique situation, ensuring you pay only what you need to and nothing more. -
Strategic Business Planning
Plan smarter, not harder.
Your business goals and tax strategy should work together. With strategic business planning, we’ll align your financial and tax goals to optimise outcomes. Whether you’re planning for growth, entering a new market, or managing seasonal cash flow, we’ll provide a roadmap that ensures your tax obligations don’t stand in the way of success. -
Goal Achievement Process
Turn your goals into reality.
Your financial goals are unique, and we’ll help you achieve them with a clear, actionable tax plan. Whether it’s saving for retirement, expanding your business, or reducing your tax liabilities, our Goal Achievement Process aligns your tax strategy with your long-term aspirations, helping you get there faster. -
Budget & Cashflow Forecast
Stay ahead of your finances.
A solid budget and cash flow forecast are essential for effective tax planning. We’ll create a customised forecast that gives you a clear picture of your financial future, helping you prepare for tax obligations, manage seasonal fluctuations, and plan for unexpected expenses. With our support, you’ll always know what’s around the corner. -
Penalty & Interest Remissions
Don’t let penalties hold you back.
Falling behind on tax obligations can happen, but we’re here to help. Our penalty and interest remission services assist in reducing or eliminating ATO penalties and interest charges. We’ll advocate on your behalf and implement strategies to prevent future issues, giving you the breathing room you need to move forward.
