One of the biggest mistakes we see small businesses make when it comes to structuring their businesses to minimise tax is leaving it too late. We believe there are five key times that you should come to us for advice on your tax strategies.
- Before the end of financial year. There is no point coming to us after June 30 to see how we can minimise your tax for the previous financial year.
- When you initially set up a business.
- Before you make any big decisions that will significantly increase your income, such as signing major contracts.
- Before making large asset purchases.
- When your business is starting to establish itself as a successful business. This is generally when you start earning more than just a salary and start to generate profit.
If you feel your business could benefit from some expert advice around setting up tax effective business structures, please call Chris Garrett, Partner, on 02 6566 2200 or visit wrightsca.com.au