Tax can be tricky stuff.
Our team undergoes intensive training and a rigorous update program to give you the best advice.
Tax can also be a major component of your expenditure. For both businesses and individuals it is often one of the biggest single expense items, if not the biggest of all.
If you receive a salary, you probably focus on the value of you remuneration package and the net pay that lands in your bank account each pay day.
If you are in business, company tax you pay is only part of the picture. You make payments to the ATO that aren’t explicitly listed amongst expenses in your P&L. Examples of these are PAYG Withholding, net GST, and FBT.
In other words, the ATO is probably one of your biggest “suppliers” that you make payments to.
Given the relative scale of these disbursements, it’s a good idea to make sure things stay on track, and that you are only paying what you need to.
We operate in accordance with the legislation. We play it straight. We play the rules, but we play them hard on your behalf. You are our client.
Tax can be a significant cost that is made up of many components:
- What you pay to the ATO
- Compliance costs – forms and reporting
- Record keeping
- Audit costs – adverse outcome, eg penalties
- Audit costs – successful outcome, eg opportunity cost of defending a correct position
- Change and uncertainty opportunity costs
- Entity maintenance costs
Our approach is to assist you to optimise these often competing constraints and control overall exposure to total taxation related costs.
We can assist you with:
- Returns for:
Investors, eg rental properties, share portfolios
Self Managed Superannuation Funds
- Technical Advice
- Tax Planning
Taxation Audit Advice
Property Investment Taxation
Audit Risk Assessment
Taxation Residency Issues
As an agenda item or motivation tax motive should never rank higher than second place. Commercial good sense or non-financial personal priorities should always be of prime concern. There is never any sense in losing money just to save tax.
Taxation is a significant cost for business and investment and a vital business issue. In addition to the usual incidence of taxation, there are many costly traps in the complexity of taxation legislation. Yet legal concessions may also be significant, where they apply. If concessions are ignored, taxation costs are compounded.
For these reasons, proper consultation on taxation implications for any transaction is absolutely necessary. Dealing efficiently and effectively with taxation issues is a key foundation of business success.