Tax Planning & Strategy – Must take actions before the 30th of June
Tax Planning 2021
For 2021, key priorities are likely to includes:
- Maximising superannuation contributions without exceeding the relevant limits
- Bringing forward deductible expenses
- Deferring taxable income
- Managing capital gains
- Using a Family Trust or a “bucket company” to cap your tax at 26% or 30%
Imagine what you could do with your tax saved:
- Reduce your home loan
- Top up your Super
- Save for a holiday (when we can all travel again!)
- Deposit for an Investment Property
- Pay for your children’s education
- Upgrade your Car
Trust Distribution Resolutions - Before 30 JuneTrustees who distribute income of a Discretionary / Family Trust to beneficiaries should sign a resolution by 30 June 2021 for the distributions to be...
Why Use A Bucket Company?A “bucket company” allows you to “cap” the tax on profits distributed by a trust to 30% or 27.5%. This is much less than the individual top marginal rate of 47%! Assume a...
Minimise Your Business Tax – 2021 Tax Planning GuideImagine what you could do with tax saved? Reduce your home loan Top up your super Save for a holiday (when we can travel again) Deposit for an...
Minimise Your Personal Tax – 2021 Tax Planning GuideNow's the time to review what strategies you can use to minimise your tax before 30 June 2021.Imagine what you could do with tax saved? Reduce...
Capital Gain Tax – Thinking of Selling your business?Do not sell without first gaining professional adviceFor the majority of small to medium sized business owners, the value of your business is...