What is tax planning? Robert King, Xperion Accountants

Wed 10:00am 15 Aug 2018
Accountants like Robert are at their busiest during the months of May and June mainly because they're off tax planning for their clients. Tax planning is a process businesses go through before 30th June every year. It's where accountants sit down with clients and go through the year they've had and look forward hoping to clear out tax complications.

What Robert does is look for a good set of numbers and estimate what the year is going to look like for his clients, tax-wise. In preparing for this busy period, he encourages his clients to do their 'March Best'. After coming up with figures for June, he then 'massages' the numbers to try and avoid tax problems and minimise tax that the client pays (as much as he can).

If you're familiar with the Xperion website, you might've stumbled upon their article about the 30 simple ways to reduce tax. Super is a big part of reducing tax, and tax planning is a vital process in order to deal with Super in a timely manner. The art of tax planning is all about doing it on time, and knowing what you did with your time.

Businesses experiencing a better year than their previous one may be required to pay more tax, but planning ahead with your accountant could make all the difference.

In all his tax planning experience, Robert says that there are two types of clients; those who do official tax sessions (or a long and arduous face-to-face meeting with the accountant to talk about how 'profitable' the business has become), and number two: those who just pick up the phone and talk to Robert for just 15 minutes (generally about how their business is doing, numbers-wise).

Robert and his "boring" team from Xperion Accountants encourage clients and individuals alike to begin the simple conversation about tax planning. Simply pick up the phone and give them a call today. Don't worry, Xperion won't bill you for asking questions or making phone calls to them. To contact Xperion, check out www.xperion.com.au and chat with their qualified, reputable and experienced team today.

DISCLAIMER: The information and discussion presented in the video and its accompanying media are shared for general information purposes only. If any content presented appeals to you in any way, it is not to be taken as advice but as a reminder to talk to your accountant about your specific circumstance. Check out xperion.com.au where you can find ways on how to contact an Xperion Accountant near you.