Minimise your tax with our expert advice.
We help business owners and investors save on taxes and keep more cash with proactive and up-to-date tax strategies.
How we can help you pay less tax.
Taxes are a necessary part of any functioning society, but nobody wants to pay more than they need to.
Tax planning is a proactive process where we meet with you and explore every available strategy to legally reduce your tax.
Unfortunately not many accountants proactively do a tax planning process with their clients and as a result, small business owners pay millions in tax that they don’t need to.
Popular tax planning strategies that will save business owners tax include:
- Having the most tax effective business structure.
- Deferring income.
- Prepaying expenses.
- Contributing profits to superannuation or an SMSF.
- Writing off bad debt. prior to 30 June.
- Distributing profits via a discretionary trust to other people or entities who pay tax at a lower rate.
- Distribution profits to a bucket company.
Our solutions.
Business Tax Structures
The type of structure in which you operate your business plays a big part in the amount of tax you pay. We are experts in business structures from Company’s, Trusts or Self Managed Super Funds.
Restructure Assets
Restructuring personal assets, businesses and investments between individuals or entities can save tax in many ways. Our experts will show you how.
Restructure Debt
Restructuring debt involves changing bad debt into good debt. Bad debt is defined as debts that don’t help you build wealth and where the interest expense is non-deductible.
Under Claimed Deductions
We undertake a tax audit to ensure all eligible tax deductions and small business tax concessions are utilised.
Capital Gains Tax Advice
Selling a business or investment represents one of your biggest financial decisions. Getting the right advice will mean the difference between a good tax outcome or not.
Personal Tax Solutions
We offer proactive personal income tax advice such as tax deductions and offsets, tax planning to retirement income.
We help individuals, business owners and investors save on tax by keeping more cash with proactive and up-to-date tax strategies.
Tax planning and advice - FAQs.
You have the right to arrange your financial affairs to keep your tax to a minimum. This is often referred to as tax planning, or tax-effective investing.
Tax planning is the process of managing your financial affairs in a way that minimizes your tax liability. It is important because it can help you keep more of your hard-earned money and maximize your financial returns.
Anyone can benefit from tax planning services, but it is particularly important for individuals and businesses with complex financial situations or high net worth.
Common tax planning strategies include maximizing deductions, deferring income, utilizing tax-advantaged retirement accounts, and taking advantage of tax credits.
“I sold my business after 30 years. Prosperity Accountants helped me use the small business tax concessions to reduce my taxes significantly. I highly recommend them.”
R. Marinich – Totally Workwear Group
Let us help you to minimise tax.
We will not try to sell you anything.
We will discuss your existing problems and challenges.
We will establish how we can work with you to overcome those challenges.
We will establish if we’re the right fit for each other.
And more....
