A proactive approach to tax time – don’t miss out!

Most of our clients receive/take advantage of our personalised tax planning.  If you haven’t been, call or email us and we will help.  There is a lot riding on this activity.

With the end of the financial year approaching quickly now is the time to discuss the actions you can take before 30 June 2022 to reduce tax and grow wealth. A proactive approach helps you make better decisions not only to minimise tax, but to also add value to your business or investments

As a result of the current economic climate, many businesses have had to adjust their business model to improve to improve their cashflow, business performance or expand their operations. Often this creates immediate tax saving opportunities. Alternatively, many of our clients have had better than expected results and don’t want an unexpected outgoing.

As part of our tax planning process, clients can expect to receive:

• Estimate of tax payable for the current financial year and 2023 ATO quarterly instalment information
• Implementation strategies to minimise tax
• A review of super contributions and their role in your tax planning
• The foresight to budget the next 12 months of tax payments
• Cash flow guidance and vigilance

For 2022, key planning strategies include:

• Maximising superannuation contributions
• Bring forward deductible expenses
• Deferring taxable income
• Managing capital gains
• Using structuring to cap your tax

Let’s get started to allow you to access the planning benefits and so that there is enough time to implement tax savings strategies.  Reach out to your Morrows Advisor today, call 03 9690 5700 or email morrows@morrows.com.au