As the end of the Financial Year approaches, you may begin thinking about the tax bill that could be coming your way. At Lawrence, we make it our mission to help you keep this to the legal minimum in whatever way we can.
What is Tax Planning?
In the last few months of the financial year, we have a general idea of how your business has performed so far by simply reviewing your Xero/MYOB or other bookkeeping software. By liaising with the business owner/management, we can also make a reasonably accurate estimate of the final few months of the year, and as a result can estimate the amount of tax you are going to pay.
After we know that, it’s all about looking for opportunities and strategies we can implement before 30th June to reduce your tax bill – and the suggestions can include:
Why is it Important?
What You Need to do to Take Advantage of Tax Planning
If you are a Lawrence client, your Accountant will be in touch with you soon to chat about getting your tax planning started.
If you are not a Lawrence Client – please feel free to contact me or one of my colleagues for a complimentary consultation to see how we can assist with your tax planning or any tax and accounting related enquiry.
– Niall Murray, Accountant
This article is general information only. It does not give business, accounting, taxation, financial planning or other professional advice or service. It does not consider your specific situation, objectives or needs and if personal advice is required, a detailed analysis of your particular circumstances would need to be sought. Please see our Privacy and Disclaimers page for further information.