Need Expert Tax Advice on the Gold Coast?
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.
Turn to Centaur Financial Services
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.
Benefits of Tax Advice and Planning
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.
The Centaur Difference
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.
Centaur's Winning Process
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.
Frequently Asked Questions About Tax Advice & Planning
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How can I reduce my taxable income?
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:
- Using salary sacrificing
- Managing your debt
- Donating to charity
- Claiming all work deductions
- Managing your deductions
- Pre-paying your deductions
- Meeting ATO deadlines
- Complying with the rules
- Investing in private health insurance
- Minimising capital gains
- Maximising your super contributions
- Leveraging the Medicare Levy Surcharge
- Availing a mortgage offset account
- Using a tax agent and/or tax advisor
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Do deductions reduce your taxable income?
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.
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What does tax planning include?
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:
- Discovery: We discuss your personal situation and your tax planning goals
- Analysis: We review and analyse your overall financial position and identify current gaps
- Strategy: We devise a bespoke tax strategy to ensure a tax-efficient outcome
- Recommendation: We discuss our recommendations and the implementation plan
- Implementation: We implement your strategy and complete required applications
- Ongoing Advice: We monitor your strategy and provide ongoing advice
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What is the main objective of tax planning?
The main objective of tax planning is to identify gaps in one’s financial situation that can offer tax incentive benefits.
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What questions should I ask my tax advisor?
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.
- What is your tax planning experience?
- How can you help me reach my tax goals?
- What is your investment philosophy?
- What tax planning areas do you specialise in?
- How do you communicate with clients?
- Can I call you for tax advice during the year?
- What other services do you offer?
See what our happy client's have to say about us!
Need Better Tax Advice on the Gold Coast?
Turn to Centaur Financial Services. Our expert tax advisors have proven tax-effective strategies to reduce taxes and maximise returns.
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Centaur Financial Services Pty Ltd is a Corporate Authorised Representative (CAR) number 342372 of Australian Advice Network Pty Ltd.
ABN: 13 602 917 297 AFSL: 472901.
The information provided on and made available through this website does not constitute financial product advice. The information is of a general nature only and does not take into account your individual objectives, financial situation or needs. It should not be used, relied upon, or treated as a substitute for specific professional advice. We recommend that you obtain your own independent professional advice before making any decision in relation to your particular requirements or circumstances. Centaur Financial Services do not warrant the accuracy, completeness or currency of the information provided on and made available through this website. Past performance of any product discussed on this website is not indicative of future performance.
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