iStock taxation cropGood tax advice and efficient tax return preparation is the foundation of most accounting relationships.

Good tax services are made up of:

1. Good structural choices made early in a business' life. This means understanding the pros and cons of operating as:

  • a sole trader;
  • a partnership;
  • a company;
  • a trust, or
  • a well thought out combination of the above. With a self managed superannuation fund too, if appropriate to your situation.

 

2. Regular tax services during the business life. This covers:

  • Helping to maximising your legal tax deductions;
  • Optimising your legal profit allocations;
  • Lodging BAS and tax returns on time, to present an efficient profile to the Australian Taxation Office;
  • Helping you meet your tax and super obligations to your staff
  • Good planning before you sell your business. Tax laws operate such that planning should start at least four years before you sell, to maximise the tax benefits when you exit - the later you leave the planning, the less choices you may have.

At Blackburn ' Prior we have a highly skilled team in both our Lismore and Ballina offices who can ensure your taxation needs are meet.

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