Successful tax planning should centre around three elements
At Sage Business Group we have found that tax planning prior to year end is by far the most effective planning and can provide the largest cash flow benefits. Any successful tax planning strategy should centre around three elements, reducing income, increasing deductions and utilisation of the lower tax rates available.
Listed below are some common strategies employed to assist in tax planning.
Making Deductible Superannuation Contributions
Review and Write Off any Bad Debts
Review Timing of your invoices
Review your Inventory at Year End
Small Business Concessions
Situated in Sunbury, just 35 klms away from Melborne's CBD and at the foot of the Macedon Ranges, the team at Sage Business Group are committed to providing you with results that will far exceed your expectations.