TAX PLANNING BEFORE SEEDING
It is essential to now review your Tax Position before seeding.
Your March BAS is lodged, so it’s now an excellent time to review where you are at in terms of Tax Planning. The major changes in the October Federal Budget must now be brought to account.
You may have a Tax Loss due to the large Depreciation Deductions with the Instant Asset Write-Off and 30 June 2020 Closing Pool Balance Write-Off.
I am aware that some clients are still paying much too high Interest Rates. The rates should be 2.1% Variable and 2.2% – 3.0%, 1 to 5 years fixed and 2.95% Overdraft.
If you are paying more, then we should look at other offers.
Now that the 3rd BAS is done, you will need a Cash Flow Budget for two years and a Statement of Position.
It’s certainly worth it.
Please contact our office to discuss.
Right now we are conducting ‘pre-seeding’ business reviews. To discuss your cost of banking and tax planning requirements, please contact Alyson or Yvonne on 08 8373 3155 NOW or click below to register a call back.