At GTC Financial, one of the things we pride ourselves on is our ability to help people with Tax Planning. Our team is made up of some of the best in the region and we know how to proactively help our clients to legally minimise their tax obligations. In this tough economic environment many clients have asked: "What's the point of tax planning, we are struggling to stay afloat!"
I always do believe there are at least four reasons why you should undertake some tax planning. These are:
1. You just need to check
Being short of cash doesn't mean that you have not made a good profit and you may have tax to pay. The profit could simply be tied up in excess working capital or repayment of loans. Checking means that you wont get caught out and will be able to plan to pay your the tax if you don't have the cash to minimise.
2. You know you've had a good year
That's great then you should estimate yourtax position and work with us to legally minimise the tax.
3. You know you've had a bad year
Sales and margins are down but your tax instalments will have been based on the year before. Confirming your position will enable you to vary your instalments down, even allocate excess instalments to meet other obligations.
4. Use tax planning as an opportunity to review your business performance
Find out why your business is doing what it is and use the information to make this Financial Year a great one.
Contact us at GTC Financial to day to discuss your tax planning options. We may be able to help you legally minimise your tax obligations. Doing it early means that you get the benefits now rather than waiting.