Tax planning & minimisation

Explore every strategy to reduce your tax and improve your position (legally, of course!)

Paying tax means your making a profit, which is what we're here for! So the goal isn't to pay zero tax - But you may potentially be paying thousands that you don't need to. This is why we work with our clients proactively prior to the end of financial year to explore every strategy to reduce your tax and improve your position. This is more than just another tax deduction here and there, and we aren't promising you won't pay tax... But it will make an impact on your tax return.

Helping you reduce your tax payable with tax minimisation strategies

There's a huge range of strategies you can use to minimise your business tax - from a simple recommendation to make a concessional superannuation contribution for a self-employed person, or for those on a different journey, you may have multiple structures/complex business structure and require an analysis of your trading to date and assessable income - where you will be provided with a report containing several strategies to improve your tax situation and ensure there are no nasty surprises come tax time.

Who will benefit:

New businesses who are unsure how they are performing
Businesses struggling with cashflow
Businesses wanting reassurance they won't have a tax problem
Complex business structures with multiple entities

What is the meaning of tax planning?

In the grand financial symphony that composes your business, think of tax planning as the masterful conductor. It’s not just about minimising what you owe come tax season—though, certainly, that's a delightful perk! It’s about strategically orchestrating your finances in a manner that keeps your hard-earned money working for you, within the harmonious chords of the law.

Imagine, if you will, navigating the financial seas with both confidence and compliance, ensuring every decision not only amplifies your growth but also aligns beautifully with legal standards. This is the essence of tax planning. It’s a thoughtful, proactive approach to managing your financial affairs, ensuring every move is both intelligent and lawful.

Tax planning should never feel like you're threading the needle through regulatory loopholes. Instead, it's about maximising your financial health with strategies that are as clear-cut as they are effective. Think of it as optimizing your financial diet—nutritious, beneficial, and most importantly, legal.

Venturing beyond the bounds of the law in search of tax advantages is akin to navigating without a compass: risky and ill-advised. Our role is to keep your voyage on the right course, making sure that every tax strategy we employ not only leads to prosperity but steers clear of any legal storm clouds.

Ready to refine your financial strategies with tax planning that’s as straightforward as it is strategic? Let's embark on this journey together. Our commitment is to guide you towards financial wellbeing and success, all while cultivating a relationship built on trust, mutual respect, and shared achievements. Here’s to setting sail towards a future where your financial goals aren’t just met—they’re exceeded, within the safe harbors of the law.
What are the new tax cuts 2024?
The horizon for Australian taxpayers looks promising with the introduction of new tax cuts set for 1 July 2024. Labor's latest legislative brushstrokes paint a future where more Aussies can expect a lighter tax load, all thanks to rate reductions and threshold adjustments that aim to keep more money in your pocket and effectively combat bracket creep.

Here's the lowdown:
- For those earning between $18,200 and $45,000, your tax rate will dip from 19% to a cooler 16%.
- If you're making between $45,000 and the bumped-up threshold of $135,000, your rate will drop from 32.5% to a more relaxed 30%.
Want to delve deeper into this financial forecast? Swing by our in-depth blog for a complete scoop on how these changes could sprinkle extra pep into your financial step: Unpacking the Proposed Stage 3 Personal Income Tax Cuts.

Why plan for 30 June / end of financial year (EOFY)?

There's no good looking retrospectively at the numbers and your accounts - You could be letting opportunities slip by and also setting yourself up to pay thousands in tax than you need to.

Some of the benefits and reasons for planning for 30 June are:

Changes as a result of the federal budget that affect you
Changes as a result of the personal income tax rate
Take advantage of business asset purchase deductions
Contributions into superannuation to reduce personal income tax liabilities
Review owner wages/ taxable income & adjust as necessary to reduce unnecessary tax (only available if adjusted pre 30 June)
Review key strategies to minimise your capital gains tax (capital gains tax cgt)
Avoid any unpleasant tax surprises
Plan future cash flow including tax payments & PAYGI catchup instalments
Ensure taxable income is in the most appropriate entity to minimise income tax
Check tax offset, distribute income for different tax rate, and income tax return tax planning strategies
And so much more.

What is my taxable income?

Think of this as as all the money you've got left after you deduct the eligible expenses. It's your gross income after tax deductions have had their share—a.k.a, your financial cake after the taxman's had his slice.

And what makes up this tasty treasure also known as assessable income? Your wages, salary, and any cash earned from irregular or occasional work—it's all part of the mix!

With the end of the tax year (30 June, we see you!) just around the bend, now is the perfect time to assess your taxable income for the 2023-24 fiscal run and take a sneak peek at the 2024-25 forecast. Why do this, you ask? Because knowing where you stand today is your first step on the road to savvy, forward-thinking tax planning. Imagine knowing your tax liability almost a year before it's due!

Have complete confidence in your business position

Being empowered in business and having the clarity and confidence that your business is in a great place when it comes to tax is an epic feeling, but one not felt often enough by small business owners.

We want to change that.

Not only do we work with you to legally lower the amount of tax you pay the ATO, but we also provide the knowledge and transparency around the tax you do have to pay (no more nasty surprises that come in the form of large tax bills at end of year!).

By being in the loop on your tax situation, you can go out and run your business confidently and make better business decisions, without having to worry about tax. Your Trekk Advisory team will keep you updated, and will always be on hand if you are unsure on a decision.

Download our eBook:
10+ ways to lower your tax bill.

Prepare for EOFY and minimise your business tax with our free guide on 10 strategies you can consider (plus a few more tax minimisation strategies thrown in!) to make sure you don't pay more than you need to.

Considering strategies like taking advantage of ATO's temporary full expensing scheme, reviewing owners wages, and superannuation contributions to reduce personal income tax liabilities are all things that could make a big difference on your tax bill.

Fill in the form now!

You've started to consider some ways to minimise tax have a loose plan in place to save on some tax this year, but soon you realise you need some direction to map out the best strategy (and to make sure you're saving the most possible!) That's where we can help...

Working with a tax advisor prior to EOFY will ensure you don't end up paying more tax as well as walk away fully confident that you can meet all your year-end tax obligations and deadlines.

Working with us on a tax planning session, you can expect:

Tailored strategies for your business and structure that reduce your business tax and ensure you're not paying more than you need to.
An estimate of your tax liability almost 12 months before it’s due. Imagine how that will assist with cash flow planning – knowing you’ve got almost a year to save $$$!
Confidence you are across any changes that come from the forthcoming federal budget that will affect your business.
A strategic conversation with your advisor to ensure you are on the best track to start the new financial year (Do you know what your turnover is? Is your gross profit or net profit on target? Have the impacts of COVID-19 continued to affect the numbers?)

"Trekk Advisory turned from my tax accountant to my go-to growth partner. Now, solving my business issues is as easy as making a call to Trekk."

Tas Moulis
QPaint, Brisbane.
"Thought our business was challenge-free until Trekk Advisory opened our eyes. They highlighted unseen opportunities in our numbers. We've been on an upward trajectory ever since!"

Narelle Crockett
MC Scaffolds, Mt Isa.
"Trekk, recommended years ago, has been indispensable for our growth. Their brilliance and client-centric approach enhanced our business acumen and work-life balance considerably."

Ashley Haywood
Writer, Alstonville.
"Tony and the team at Trekk are an essential part of our business for over 10 years. We constantly challenge the team to demonstrate value and they consistently deliver."

Symon Jackson
Red Earth Engineering, Brisbane.
"We've partnered with Trekk Advisory for a few years now and really value the personal attention and responsiveness we receive. They genuinely regard your business as if it was their own. Highly recommend.

Steve Bridger
Saltair Modular, Brisbane.
"Trekk's unmatched advisory and accounting expertise over the last ten years has driven our consistent business growth. They've provided exceptional aid even in the face of pandemic challenges. Absolutely top-tier."

Rich Hadfield
Focussed LM, Brisbane.

Tax planning & minimisation

Explore every strategy to reduce your tax and improve your position (legally, of course!)

Helping you reduce your tax payable with tax minimisation strategies

Why plan for 30 June / end of financial year (EOFY)?

Have complete confidence in your business position

Download our eBook:
10+ ways to lower your tax bill.

What's next?

Take these tax minimisation strategies to the next level

Talking to an expert can make all the difference.

Growing businesses, garnering stars

Tax planning & minimisation

Explore every strategy to reduce your tax and improve your position (legally, of course!)

Helping you reduce your tax payable with tax minimisation strategies

Why plan for 30 June / end of financial year (EOFY)?

Have complete confidence in your business position

Download our eBook: 10+ ways to lower your tax bill.

What's next?

Take these tax minimisation strategies to the next level

Talking to an expert can make all the difference.

Growing businesses, garnering stars

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Download our eBook:
10+ ways to lower your tax bill.

Subscribe to our monthly
business insights newsletter.