Utilise New Concessions
Every year the Government makes changes to the legislation therefore the process of tax planning ensures to take advantage of any new/existing tax law changes and helps to manage any potential negative impact of the new legislation.
See The Bigger Picture
Discussing different options not only reviews the strategies to maximise the claims you are entitled to, it also provides great insights into business allowing the owners to see a bigger picture for the years ahead.
This is a great opportunity to analyse your business structure and whether it needs to be changed; review and enhance the operations and processes in place, explore potential profit areas; and find new investment options and decide on its structure.
Modelling your cash flow, financial performance and taxation in advance is a great opportunity to look at the options open to your business and optimise strategies across all areas all whilst the data is being carefully analysed.
Peace of mind
Eliminate unnecessary stress and uncertainty by knowing what your business’s cash position, profit position, and tax liability will be in the short to medium term. This exercise gives your business the ability to make decisions based off accurate forecasts.
Planning and considering different options for your cash flow, financial performance and taxation remains one of the most critical financial functions of any successful business.
Author: Yulia Pyatrauskayte