The end of the financial year will soon be upon us, with 30 June 2022 just around the corner. The months of May and June are the time to review and analyse ways to reduce your 2022 taxes based on your current income and expenses from July last year until now. We recommend all our clients consider tax planning for their business and personal tax.
Download our tax planning guide for more information.
- Schedule your tax meeting with us and discuss how your business and things are going?
- Income and profit estimates of what your 2022 total year profit could look like.
- Review how your business income and expenses are performing, comparing to previous years.
- Be told ideas to reduce your 2022 tax bill via purchased assets, paying extra super, & profit-sharing, etc.
- Utilise spare cash now – by knowing what the 2022 tax payable estimate will be. You can use excess business funds you have accumulated to invest, purchase assets, and reduce the home loan, etc.
- Free up cash flow by reducing quarterly tax instalments for June due to claiming asset purchases or showing a downturn in the business.