Tax Advice
Tax Advice
- Legally minimise your tax using proven strategies and free up your cash to better achieve your business and personal goals.
- If you have a particular strategy in mind, we can advise you of the tax implications of that strategy.
- Negative Gearing advice.
ATO Benchmarking
- How does your business compare to the Australian Taxation Office Industry Benchmarks?
Tax Minimisation: A Case Study
Meet XYZ Pty Ltd...
XYZ Pty Ltd is a business run by Frank and Bee. They are married and have their own online accounting software which they allow us to access.
At the end of March, the company was showing a Net profit of $150,000 and it was estimated that that profit would increase to $200,000 by the 30th June.
The company has a healthy cash flow position with $180,000 in the bank account and they have already paid themselves wages of $90,000 each. It was estimated that they would have a company tax liability of $60,000.
How John Alam & Partners helped...
Frank and Bee made contact with us in April to discuss the company’s profit situation. Based on their current situation, we were able to use the cash in their company to reduce the profit and effectively minimise the company tax payment.
In total we used $100,000 of the cash in the company’s bank account, reducing the company tax payment by $30,000 (half).
Our strategies complimented their personal goals (part of which was to prepare for retirement) as well as their business goals so while they have less money in the company, they are one step closer to securing their financial future.
Names changed to protect privacy.
There are many strategies that we can utilise to legally minimise tax. Contact John Alam & Partners on (02) 9520 4433 or via email at enquiries@johnalampartners.com.au, to discuss your options.