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Why does my Business need Tax Planning?
Towards the end of the financial year, it is a great to review your business performance year to date and determine what can be done to reduce your tax.
It is generally too late after 30 June to take advantage of tax minimisation strategies that could save you money.
During a tax planning meeting, your group structure is reviewed and the following questions will be answered:
- How much should I pay myself?
- How should I pay myself? Dividends or wages?
- Can I utilise any family members?
- Should I make additional super contributions?
- Is my structure working effectively?
- Should I make any important purchases pre 30-June?
- And a lot more..
If you want to reduce your tax, a tax planning meeting is essential to ensure this occurs. Our tax planning sessions cost $880 including GST.
Why POP Business?
Our team are passionate about helping people build their dream business which is why we’ve helped thousands of small business owners just like you gain clarity and scale to new heights.
Along with our dedicated and proactive accountants, our technology-driven and cloud-based solutions help streamline your accounting requirements to directly boost efficiency in daily operations and increase business growth.
Contact us today and speak to one of our PB Partner experts to benefit from:
- Expert business advice and strategic direction
- Fast and efficient communication
- On-demand support from an expert accountant
- No hidden costs
- Actionable advice that achieves results
Australian businesses that love our services include:
Jinitech Group
Surfboardbroker
Autism Swim
PS40
Ocean Solar
What Our Customers Say
Whatever your tax needs, our team of experienced POP Business Accountants have got you covered.
Perhaps your small business is behind on your annual tax obligations?
Maybe you’d like to know if there’s other smart ways you can minimise your tax?
Or, it could be you’re looking for expert advice on how to growth-hack your business.
Good news. POP Business are the pros at all three.
Tax shouldn’t have to be so… well, taxing. Drop us a line and you’ll never look back.
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Frequently asked questions
Tax planning is the analysis of one or more entities from a tax perspective to ensure tax is minimised.
Adequate planning results in significant tax savings that you can reinvest to grow the business. It also allows for greater wealth creation and increased cash flow.
Tax planning plays an important role in:
- Lowering your taxable income
- Reducing the tax rates
- Maximising your possible tax credits
- Allowing greater control of the taxes paid
- Ensuring group and business structure is working efficiently
Tax planning involves implementing various strategies in order to minimise the amount of taxes paid for a given period.
For a small business, minimising the tax liability can provide more money for savings, investment, or growth.
There are several ways you can plan for your tax, but generally it involves four methods:
- reducing your overall income
- increasing your number of tax deductions throughout the year
- make full use of certain tax credits
- Allocation of income to various persons or entities
April and early May are the best time for you to hire a tax accountant like POP Business to plan for your tax because:
- We have access to your financial data for three-fourths of the financial year so we can make convincing forecasts of your business
- There’s still some time left for us to think about ways to improve your tax position
You can get started by simply filling out the enquiry form on this page.
You can also email [email protected]
The turnover will usually be within 4 weeks, however faster times are available.
We communicate through email and phone mostly.
You can provide user access to your online accounting software so we can get the required business transactions for the tax lodgement.
Yes. You can find POP Business’s office smack-bang in the heart of Surry Hills, in Sydney. Level 1, 285A Crown St, Surry Hills NSW 2010 (open in Google Maps).
Our tax planning session costs $880 including GST and one of our expert Chartered Accountants will use this session to ensure all your tax and planning are sorted.
Contact An Expert
We’ll get back to you within one business day.
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