Tag: Tax Planning

When selling a business, there can be significant tax advantages, especially related to GST, if the sale is considered a “going concern.” as Glenn shares in this video. This means you’re selling the entire business, often in a walk-in, walk-out fashion, with no GST on the sale. This can greatly impact cash flow for both…

Tax planning takes advantage of lawful and strategic ways to minimise tax liabilities this financial year and in future years. While it may minimise taxes in any given financial year, tax planning works best when used as part of a long-term financial strategy. This post will outline some tax planning considerations for businesses and individuals…

In this short video, David explains why you should review your farm business’ structure, when you’re also reviewing from a tax planning perspective.

As part of the Coronavirus stimulus measures announced in March, the Australian government introduced a new instant asset write threshold of $150,000 increased from $30,000. This instant asset threshold applies to asset purchased from 12 March 2020 to 30 June 2020.  While the announcement was welcomed by most Australian business owners, purchasing new assets may…

There has never been a more important time to plan and minimise tax. Tax Planning has a bit of mystique around it. But what does it really mean? Tax Planning is the concept of understanding your current tax position, how much tax would be owing at the end of the financial year if we do…

Did you get an unexpectedly large tax bill? Don’t get caught out again. With good tax planning, you can defer some of your income to a later year, or accelerate planned expenditure to reduce your current year’s tax. You have the right to arrange your financial affairs to keep your tax to a minimum –…

Tax Planning is an opportunity to analyse the current financial year, project potential tax liabilities and discuss strategies moving forward. Further to this, Tax Planning is an opportunity to have a conversation about your goals and aspirations as both a business owner and personally. With your goals and aspirations in mind, tailored advice can be provided,…