Advice on reducing business and personal income tax liabilities, preparing tax returns, FBT, BAS, IAS, GST, payroll tax and land tax returns, negative gearing of investments, and providing general taxation advice and planning.

Income Tax

Capital Gains Tax

Capital Gains Tax is levied on profits made on the sale or transfer of assets. When you sell your property, the excess of the sale price over the purchase price is a capital gain.

When determining how much of the capital gain is taxable, allowance is made for any selling costs and improvements. Should a capital loss be incurred, then no tax is applicable and the amount of the loss is available to be carried forward indefinitely to offset any future capital gains.

However, if a surplus still exists and the property has been owned for longer than twelve months, then half of the gain is included as part of your taxable income and may be further reduced by any income or capital losses made either during the same financial year or any previous year.

Tax Planning

Tax planning is an essential part of wealth creation. Structuring salary, superannuation, investments and debt can create significant tax savings. With careful planning you can take control over the amount of tax you pay. Tax planning can involve:

  • Maximising your after tax income
  • Remuneration packaging (salary packaging
  • Capital Gains Tax (CGT) management
  • Gearing
  • Investing in shares that offer 100% franked dividends
  • Borrowing to invest
  • Small Business and capital gains tax exemptions
  • Tax Planning Advice
  • Structuring the taxable entity e.g. The use of family trusts or companies

Because there are so many factors that contribute to the amount of tax you pay, it’s important to get the right advice. For help with structuring your investments and superannuation to maximise your after tax income, talk to us.