TAX Planning

Our 2023 Tax Planning Package

Its Tax Planning Time for the upcoming 2023 Financial Year.

As we look ahead, businesses are facing a host of challenges and opportunities and to succeed in this environment, it's now more important than ever to have a solid plan in place!

We've noticed a growing variance across our clients and industries they operate in, with some achieving record results while others struggling to maintain their margins and profitability.

Our formalised and comprehensive tax planning service will ensure we have
sufficient time to review your trading figures and your accounting file thoroughly prior to meeting with you and have a detailed list of available tax saving strategies and other important discussion points for both the 2023 and 2024 years on our meeting agenda.

Also as we prepare to finish yet another challenging financial year, we know that uncertainty remains which will require business owners to be agile, to be strategic and to sharpen their focus on their numbers, their business operations and their direction.

All businesses need to be prepared for further expected rises in inflation, interest rates, fuel costs and staff costs, not to mention the effects of what's happening globally and the upcoming Federal budget which will no doubt seek to strike a balance between economic reality and honouring
election promises.

Here at Heaney Business Group we are committed to working with our clients to not only save tax but to future proof their businesses and to give them comfort and preparedness for the year ahead.

We hope you will embrace this very valuable service.

Kind regards,
Gemma Heaney Signature

Gemma Heaney B.Com CPA STS
Director | Heaney Business Group

Here's How it Works

Tax Planning

The Tax Planning Process

  • 1

    A detailed review your accounting file

  • 2

    Determine an accurate YTD profit of your business

  • 3

    Extrapolate the YTD profit of your business to 30 June 2023

  • 4

    Estimate the 2023 taxable income of shareholders, directors & principals

  • 5

    Estimate the amount of tax payable for 2023 and the amounts and timing of tax instalments for the 2024 year

  • 6

    Determine the optimum mix of gross salary (and corresponding PAYG withholding) and superannuation contributions to be paid this year

  • 7

    Consideration of tax planning initiatives and strategies that may be undertaken to minimise 2023 and 2024 tax

  • 8

    Identification of any problematic issues that the business is facing which may require us to work through with you later in a separate engagement

Tax Planning

What you need to do

  • Secure your spot

    Confirm you would like to proceed with a tax planning review.

    Note: We require 4 weeks from your March BAS being completed to prepare your documents.

  • Complete questionnaire and return

    Set aside some time to complete the questionnaire and return to our office asap. This will ensure you get the most out of the tax planning review and all issues important to you are considered as part of our recommended strategies.

  • Update your accounting file

    Ensure your MYOB/Quickbooks file is completely reconciled up to the period of review.

  • Meeting to discuss review

    We look forward to meeting with you in person or via zoom to discuss your results, estimated tax and our recommended tax planning and business strategies.

  • Hello 2023/2024

    You will be all set for a successful 2023/2024 knowing you have a revised plan, pricing and goals all in place.

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