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Tax Planning

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Clear Tax Accountants

Accounting And Tax Planning

It’s your right as an Australian taxpayer to plan your taxes in a way that works for you. When done with proper considerations for the law and commercial practice, your final tax bill can be much less than without tax planning. It’s all about what you do and how you do it. There are avenues for businesses in any industry to structure their tax based on how they operate.

Tax planning strategies are not just limited to complex business structures, or other sophisticated arrangements. Everyone should consider tax planning advice, from sole traders and ordinary taxpayers, to large multinational conglomerates. Clear Tax is here to help you pay less tax while avoiding any penalties.

Deferring And Reviewing Debtors, Income And Expenses

When it comes to the inflow and outflow of cash, there are plenty of tax planning strategies that arise. Deferring invoices to the following financial year can quickly minimise the tax you pay. You can also potentially claim a bad debt deduction for debtors. Finally, some entities can prepay expenses to claim earlier tax deductions.

Managing Deductions 

There are plenty of hidden deductions that businesses can claim to accelerate their tax planning goals. For example, the rise in working-from-home citations has created plenty of opportunities to claim deductions for hours, utilities, and depreciation. All business-related asset purchases can also be deducted.

Restructuring

Business structures, when first established at the beginning of an enterprise, may no longer be relevant, viable, or effective in the present. Inefficient business structures can be restructured without triggering any implications for Capital Gains Tax.

Clear Tax

Melbourne Business Tax Planning Strategies

At Clear Tax, our tax planning experts work with businesses and individuals to help them pay less tax. We are experienced in creating the most tax-effective strategies to ensure that you are only paying what you are legally required to do so.

We take a holistic look at individual tax situations to give tax planning advice that is pertinent to each situation. We don’t apply broad brush strategies. Every business and individual is different, and will require a different set of legal tax planning strategies to get the most out of their return.

Our accountants specialise in helping Melbourne businesses more effectively structure their taxes, while also helping them remain compliant with the law and steer clear of shady tax evasion schemes.

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What Our Clients Say About Our Melbourne Tax Planning Services

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I have worked with Clear Tax Accountants in Richmond Melbourne for about one year. They have managed my returns, my Jobkeeper, my grants and all they have done very professionally and are a wonderful friendly group of friends. I recommend them if you’re considering an accounting firm.
Great job to all of your Clear Tax teams. As the name states its been a very clear advice and efficient. Always helpful to develop our business via free seminars. Great job guys.
I have been dealing with Yuvraj for number of years. His personal, professional and prompt service is second to none, one of the many reasons i have referred her to my clients and friends. will continue to do so. Without a doubt, 5 star all the way.
Their services are dependable, quick, and reasonably priced. They keep me informed about new tax legisaltion that may affect my position and will assist me reduce the amount of tax I owe or maximise my refund. I’m certain that my taxes are being handled in the most efficient manner possible. Thank you very much!
Highly recommended clear tax accountant. Ash and Manish and the team are providing the best services in Melbourne, extremely helpful, knowledgeable and professional. They are very responsive and answer all your queries. Always happy with their work so thank you very much.
Ash and Yuvraj are a great team. They genuinely care and help people. They are professional and friendly. No matter how busy they are, they will always get back to you. I have called Ash few times and he has always called back irrespective of the time, always chirpy even over the phone. I would highly recommend their team.
Ash and the team at Clear Tax have been absolutely spot-on for me and my business. Thorough, informed, approachable and, above-all, affordable, their company provides an incredibly refreshing and forward-thinking alternative to the more ‘old-school’ accountancy firms. Thank you for helping me in an area of business I do not love!
We are delighted with the service Ash and his team at Clear Tax Accountants has afforded us since we joined them. They are very forward thinking utilising new software apps and technology. Most importantly for us, they are always accessible to help and answer our queries, as well as taking the time to get to know more about our business, Government Grants and how it works – a rare thing!
Excellent Service & help with all aspects of my accounts. Working as a micro-business I have little time to spend on accounts and the team at Clear Tax Accountants have looked after me brilliantly from the very beginning. I feel I am in safe hands and they answer queries in a very straightforward manner so I understand everything in order to decide what to do best for my business. Delighted with Ash and Yuvraj. Thank you!
We are delighted with the service Ash and his team at Clear Tax Accountants has afforded us since we joined them. They are very forward thinking utilising new software apps and technology. Most importantly for us, they are always accessible to help and answer our queries, as well as taking the time to get to know more about our business, Government Grants and how it works – a rare thing!
Clear Tax Accountants

Choosing The Right Tax Planning Strategies For You

We take pride in working with business owners to create the best tax planning advice for them. This involves offering recommendations on the best course of action when it comes to selecting and actioning tax planning strategies.

We will never recommend a tax planning strategy that comes close to tax evasion. It’s our commitment to our clients to always act with integrity and within the boundaries of the law. We will never put your business at risk to gain deductions that you are not entitled to.

Benefits Of Tax Planning

Tax planning can help you pay less tax by reducing your tax liabilities, utilising tax exemptions, increasing deductions, and accessing benefits. Tax planning strategies also simultaneously keep you compliant with tax law and commercial practice. When you partner with a Clear Tax tax planning accountant, you benefit from years and years of experience creating successful outcomes.

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Get in touch with our tax planning team today to find out how we can help you!

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Frequently Asked Questions

About Tax Planning
Below are answers to some of the most common tax planning questions our accountants get asked.
  • What is tax avoidance?

    Tax avoidance is using legal methods to reduce the amount of tax an entity pays. Tax evasion is the illegal practice of avoiding and evading taxes.

  • Why is tax planning important?

    Tax planning is important because it helps you pay less tax and remain compliant – two things that make your business more viable in the long run. Tax planning can also give you invaluable insight into your overall financial position.

  • Who should consider tax planning?

    Every individual, business, or entity should consider tax planning strategies. If you work for money, then you should pay tax. If you pay tax, then you are obligated to only pay what you need.

  • Is tax planning safe and legal?

    Yes, Clear Tax tax planning strategies are both safe and legal. We will never recommend an illegal or inherently risky course of action.

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