Before start of each new financial year, it is essential to review your tax position for the financial year ending now and for the new financial year starting. Each year, the Government always amended or introduced new tax law, new rebates, special one-off tax concessions and new tax scales. Compiling new tax forms each year have never been same.

The end of year tax planning is extremely important for your business. It can be used for your business road map for next 12 month period. You could decide whether to invest in capital or hold off investing. 

The goal of tax planning is to arrange your financial affairs so as to minimise your taxes. There are many ways to tax plan: -

• Take advantage of propose new rebate and tax concessions
• Use of carried forward business loss
• Plan distribution of profits
• Use of carried forward capital loss to bring forward or defer capital gains
• Make additional tax deductible contributions
• Defer or bring forward income
• Defer of bring forward expenses

JH Business Services & Taxation offer tax planning advice service to our existing client before end of financial year.

If you like to learn what we can do for you, please contact us on (02) 8883 4818.