For many, this financial year has been a continual rollercoaster, making it hard to get a feel for how your business has performed.
By reviewing your year-to-date financial results and estimated income and expenditure to 30th June 2021, we can advise you on any potential tax minimisation strategies available as well as your expected tax position, giving you some certainty around tax expenditure for cash flow planning purposes.
It is extremely important to position yourself well for critical opportunities such as:
- withdrawing Farm Management Deposits without significant tax consequences,
- considering the most effective timing for you to upgrade equipment, given the generous depreciation incentives available,
- contributing more than the annual $25,000 concessional cap if you have not used the full limit in recent years, and
- utilising anticipated changes to legislation which will be announced on Budget Night in May 2021.
Call our team now to discuss your needs and remember to have your information as up to date as possible to ensure accurate estimates are delivered.