Tips & Tricks Tax Planning
Why This Service Is Important
Tax planning isn’t just about reducing what you owe—it’s about creating long-term tax efficiency. Whether you’re a sole trader or managing a trust, every dollar saved in tax can be reinvested into your business. Strategic planning ensures you’re taking advantage of all deductions, concessions, and structures suited to your goals. It also prepares you for EOFY and prevents last-minute surprises. For companies and partnerships, tax planning supports sustainable growth and aligns with legal obligations. It’s essential for tax health and peace of mind.
Tips & Tricks
- Prepay Expenses Before EOFY: Claim the deduction this financial year.
- Defer Income if You Can: Shift income to the next financial year to reduce this year’s tax.
- Use Super Contributions Wisely: Maximize tax-deductible contributions.
- Structure Matters: The right structure (e.g., company vs trust) can significantly affect tax obligations.
- Review Asset Purchases: Leverage instant asset write-offs where eligible.
FAQs
Ideally 3–6 months before EOFY to make the most of available strategies.
Absolutely. We specialize in legal and strategic tax minimization.
It depends on your income, industry, risk exposure, and long-term goals. We assess and advise accordingly.
Yes, they allow income distribution to lower-income beneficiaries, often reducing overall tax.
How Tax Orbit Can Help
Tax Orbit takes a proactive approach to tax planning. We assess your tax position, recommend optimal structures, and ensure all allowable deductions are claimed. Our team keeps you informed of changing tax laws and applies tailored strategies to reduce your tax liability legally and effectively. With us, you’ll never leave money on the table.