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.

tax planner gold coast

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 low seasons 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

We gather and review your essential financial information to get a clear picture of your financial situation

Step 2: Choose tax planning strategies

e then select the best strategies from our database, combined with our expertise and knowledge, which best suit your unique circumstances.

Step 3: Reporting

We use our special tax planning software to develop a detailed report on the tax savings generated from the chosen tax planning strategies and the implementation process.

Step 4: Implementation

We discuss the implementation process to ensure you understand each step and the options. We then look to implement the strategies by providing you with an easy-to-follow action plan.
tax planning business

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.

tax planning individuals
Disclaimer

Grow Investment Group ABN 55 649 038 460, Grow Advisory Group Tax agent ABN 50 633 876 490 are part of the Grow Advisory Group ABN 59 630 318 535. Licensing Statement: Grow Investment Group is a Credit Representative 418758 is authorised under Australian Credit Licence 486112

The information provided on this website is for general education purposes only and is not intended to constitute specialist or personal advice. This website has been prepared without taking into account your objectives, financial situation or needs. Because of this, you should consider the appropriateness of the advice to your own situation and needs before taking any action. It should not be relied upon for the purposes of entering into any legal or financial commitments. Specific investment advice should be obtained from a suitably qualified professional before adopting any investment strategy.