Tax. It’s one of the few words we all cringe at the sound. No-one likes paying tax. And no-one certainly likes to pay more tax than they have to. But how do you know how much tax is absolutely necessary?
Unless you have received prior tax advice on the Gold Coast, chances are, you’re already paying too much tax. Claiming work deductions isn’t the only way to go about reducing tax. Specialist tax advisors on the Gold Coast, such as Centaur Financial Services, have the expertise to optimise your finances and minimise your tax commitments.
The more you can reduce your tax commitments, the more you have to save towards your goals.
From salary sacrificing into superannuation, buying an investment property, restructuring investments, paying down debt or negative gearing strategies; our Gold Coast tax advisors have many strategies available to help you reach your goals in the most way tax-effective.
Everyone wants to reduce taxes. But to minimise taxes, you need to understand how the tax system works, and what you can leverage in your favour. Who better to turn to than one of the most experienced and taxation advice and planning firms on the Gold Coast, Centaur Financial Services?
The Australian tax system is complex, and for most, difficult to understand. With tax, ignorance is not bliss! With tax, ignorance will cost you dearly. This is where our Gold Coast tax advisors can help. We take a holistic approach to your financial situation. We identify all tax incentives and devise a tailored plan to help achieve a better financial outcome.
Tax advice and planning isn’t just for the rich, or for business owners. Individuals, companies, SMSF’s, partnerships, and trusts, can also avail. Your investment can be the difference between paying thousands in unnecessary taxes and only paying what you are liable to pay. Moreover, our tax-efficient strategies can, over time, make a substantial difference to your collective net worth as well.
The latest ATO statistics show Australian’s (individuals) paid a staggering $210 billion net tax in the 2017-18 income year, up from $190 billion in the 2016-17 income year. The preceding years to 2013-14 saw similar net tax increases.
Taxes are only going to continue to climb.
True, tax planning can help you reduce your taxes considerably, but beyond the tax savings, there are many additional benefits to avail. Along with tax deductions, we can review other financial areas, such as superannuation, SMSFs, and business structures, to optimise performance and maximise returns.
Let Centaur Financial Services be your trusted tax advisors on the Gold Coast. Let us steer you towards lower taxes and greater prosperity, and dissipate your tax concerns and burdens. It’s our role to understand the complex tax system and make it work for you. Dealing with your own taxes no longer has to be a daunting process. Gain peace of mind knowing our Gold Coast tax advisors have your covered from all angles.
Tax planning is so much more than identifying taxable deductions. And your tax plan from 10 years ago may not be the most efficient for your current financial position. As time passes and investment portfolios grow, other ownership structures, such as companies and family trusts, may provide better tax outcomes. This is just one of the ways we can help.
What’s important to understand is, like any sound financial plan, the best tax planning is done over the long run. We give you a retirement projection to demonstrate our long-term view to support our tax-efficient strategy.
Through the analysis and research of your circumstances, we evaluate core tax considerations and cultivate personalised strategies to help you achieve the best outcome for you and your money. Together, our Gold Coast tax experts will work with you to devise a tax-effective plan that reduces risk, minimises tax and over time, maximises wealth.
Our winning process entails six steps; Discovery, Analysis, Strategy, Recommendation, Implementation and Ongoing Advice. We conduct a comprehensive review of your financial requirements and potential opportunities. We explore and analyse possible alternative strategies, and communicate with you and your accountant to ensure the best outcome is achieved. We are with you beyond implementation, reviewing your strategy regularly and adjusting where necessary.
Don’t impede your ability to accumulate wealth. Alleviate your tax burdens and grow your wealth by contacting the most experienced tax advisors on the Gold Coast, Centaur Financial Services.
Everyone wants to know how to reduce their taxable income. The good news is, there are plenty of ways to do so. However, some options may not be viable to your situation, which is why it’s always good to a Gold Coast tax advisor. Centaur Financial Services can review your financial situation and develop a strategy tailored to your needs.
The most effective ways to reduce your taxable income include:
Yes! Absolutely! Deductions are the easiest and most prevalent tax benefit of all. Everyone is eligible for deductions of some form or another. Deductions are generally work-related expenses, such as stationary, work-specific uniforms, work tools and equipment, computers and electronics for work purpose, travel for work, and any self-educational costs. Other taxable deductions include tax agent and tax advisory fees, telephone and internet fees, and charitable donations.
Tax planning is the process of looking at one’s overall financial position; assessing their income, investments, superannuations/SMSFs, and business structure, then developing a tax minimisation strategy to a) minimise tax b) reduce risk, and c) maximise wealth.
Tax planning is legal as long as the strategies lie within the intent of the law.
Tax planning is done in stages. At Centaur Financial Services, we follow a winning 6-step process:
The main objective of tax planning is to identify gaps in one’s financial situation that can offer tax incentive benefits.
Not all tax advisors on the Gold Coast are the same. Some, like Centaur, will go the extra mile to ensure you maximise absolutely all your eligible tax reliefs, others may only tick off easy to secure incentives. To ensure you invest in the best tax advisor on the Gold Coast, ask them the following questions before committing to any strategy.
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