Tax Minimisation

WHEN TO PLAN YOUR TAXES

What part of the year, more than any other, is tax time?

If immediately after receiving you group certificate leaps to your mind, you failed this test, and the consequences can be painful.

Mistaking the return-filing deadline for tax time probably means you're paying more income tax than you have to--year after year. The lifetime cost can be enormous.

Taxes are a year-round sport. The borrowing, spending and investment decisions you make from the beginning of the financial year through to the end of the financial year shape the amount of tax payable. Think of the final weeks of the financial year as a cornucopia overflowing with opportunities to trim your tax bill. Don't wait until after the end of the financial year to begin. By that time, the doors to many money-saving opportunities will be closed.

Engage a taxation service who will determine your approximate taxable income, and check the tax rates that apply. This determines exactly how well you'll be paid for any manoeuvre that is implemented to legally reduce your taxable income.

Savvy year-end tax planning involves looking to the year ahead as well as the one that's winding down. If spending an extra dollar on taxes this year will save you two dollars next year, the standard recommendations stand on their head.

Knowing where you and your tax situation fall into place is the first step in customizing and optimising your taxes. You can save yourself time, effort, and most importantly, money by using our services.

Chapter 6 - Free DVD

Please review Chapter 6 from our DVD titled Managing Wealth Creation which addresses Tax Minimisation. In addition, download a free report from Tangible Assets Taxation which addresses the most frequently asked questions about tax planning.

 CLICK HERE - for a Free Report on the most frequently asked questions about Tax Planning