One of the easiest ways to minimise tax is to plan. Unfortunately too many clients seek help when it’s too late, however with good planning tax liabilities can often be reduced.
At Suncow Wealth we work with PAYG and self employed clients to assist with their tax planning. Here are four areas you can definitely make a difference with good planning:
• Personal income tax
• Capital gains tax
• Estate Planning
• Insurance claims
When considering options to minimise tax, there are a number of considerations which need to be taken into account to assess what options are best.
• What are your overall goals in addition to reducing your tax?
• Will reducing your taxable income significantly reduce your borrowing capabilities?
• What surplus cashflow do you have to service a loan or salary sacrifice?
• What investment return are you expecting from your investment portfolio?
• What is your appetite for risk?
If you need assistance, we invite you to call our office on 02-9810 8832 and make an appointment to discuss your tax needs and how we may be able to assist you.