As your tax agents, our primary role is to help you to meet your tax obligations; getting your Income Tax, BAS Returns and Activity Statements lodged and tax paid on-time, so that you don’t get charged interest and penalties.
But we can do so much more…with your help.
We would like to be able to:
- Advise you of actions to save you tax
- Help you to understand the tax consequences of actions you are considering before you commit to them and
- Help ensure that your long-term financial plans take tax exposure into account
To do that though communication and early engagement is KEY
What can you do?
- Get your tax return information to us promptly after the end of the tax year – every year
- Talk to us early if:
- Your income level has suddenly changed
- You are thinking about selling a capital asset
- You are starting a new business
- You are considering changing your business structure
- You are planning to invest in a new asset
- You are moving to a different country or
- You are making any other significant change to your circumstances
- Introduce us to your financial advisers or planners and ask them to include us in their process from a tax-perspective
Too often we find out of a big tax issue too late to be able to help, or find out you have a big tax liability, due to something new happening, after the end of the tax year (when it is too late to take any action e.g. contributing to superannuation) to reduce it.
So don’t just view us as someone to talk to long after the end of the tax year, when you are gathering your tax return information to send us because the lodgement deadline is approaching and we are chasing you for it, keep us in the loop and give us the chance to be in a position to proactively help you. Give us a call or email.
