Welcome to our April monthly newsletter!

Welcome to April, the start of tax planning season! Now is the time to assess your profits and apply any tax saving strategies that you can! We are now taking tax planning appointments and are happy to provide anything from a simple chat about your potential taxes to a full tax planning service which includes a detailed estimate of taxable income, income tax payable and a tax savings report which explains which strategies can be applied to reduce income tax this year and potentially in future years. If you are unsure if this service would be beneficial or would like to know more then please contact our office.



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Monthly tax tip:

Most taxpayers will assume that it’s always best to claim everything possible in each tax year to ideally pay the lowest amount of income tax. However, there are some deductions that you can choose to claim in a later year if the outcome is positive. These deductions can include depreciation of assets, super contributions, directors fees, certain prepaid expenditure, cash expenses and the list goes on. It may seem a bit backwards to not claim a deduction that is available but sometimes this creates a better tax outcome which will later be enjoyed. This is why tax planning can be so beneficial for small business owners.

If tax rates are set to be increased or certain tax offsets will be removed and not available, then it might make sense to save some tax deductions for a future year when it’s likely that income tax will increase for the tax-paying entity. For example, an entity may be claiming tax losses from a previous year that will reduce their tax liability in the current year. That entity will no longer have those losses to claim in future years so it might make sense to claim the least amount of deductions possible so that they can be claimed in a later year. Instead of paying a low tax rate or no tax in one year and then a very high tax rate in the next year, they instead pay the average tax rate which will save them money over those few years. For some, this may mean tax savings of a few thousand! We have certainly had clients with this outcome after tax planning has been applied. This is why tax planning is recommended and can make such a difference for some taxpayers.

If you would like to schedule a consultation with us then please jump onto our website where you can see our availabilities and book a time that suits you.


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Important Dates!

 21 April:

  • Lodge and pay March 2023 monthly business/instalment activity statement

28 April:

  • Lodge and pay quarter ending 31 March 2023 activity statement if lodging by paper
  • Make super guarantee contributions for quarter ending 31 March 2023 to funds by this date


Click to email us about the above





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