If you’re like most people, the extent of your tax planning is limited to putting in a tax return at the end of financial year and waiting in hope for a refund. But tax planning, done comprehensively, covers far more than this most basic of tax tasks.
Tax planning is the process of evaluating your financial position to ensure you’re managing your tax position to its fullest extent. Good tax planning will help you implement strategies to maximise your tax position, protect you from tax surprises, make sure you don’t have any blind spots in your financial strategy and help inform financial decisions about your business or personal finances.
Smart tax planning can transform your financial situation. A strong tax planning strategy can affect all areas of your finances, and can help keep your investments efficient, maximise your estate, save money on retirement withdrawals, boost wealth accumulation and put more money in your pocket – and that’s just for starters.
At Opal Advice we can help you do all this and more, by helping you implement effective tax planning strategies that will see your money working harder for you. Your financial adviser works with your accountant to optimise your tax strategy, reduce your overall tax bill and maximise your financial position. After all, many financial and succession strategies have tax implications, and it’s important to factor these into any comprehensive plan. And a financial adviser is best positioned to have a comprehensive view of your financial life, and to be able to devise intelligent strategies that will improve your overall position.
Here at Opal Advice, we offer tax planning services that will help you:
- Evaluate your financial position
- Reduce your income tax
- Invest tax-effectively
- Maximise your cash flow
- Save money and accumulate more wealth
- Plan for your retirement
- Create a tax-effective estate plan
Tax planning is a complex and comprehensive process that will allow you to plan and execute more efficient strategies that will improve not only your tax return, but also your overall financial situation, both now and in the future. If this isn’t already part of your financial management strategy, it’s time to find out just how much difference tax planning can make to your financial situation.