Tax Planning 101

Here in Australia the financial year is drawing to a close. One of the most important things we do for clients is review their potential tax position for the year. This is really important as once year end has passed, the tax position is virtually set into concrete.
In all our tax planning, commerciality is a major factor in what actions to take. We never advocate saving tax for tax sake. Its about making the correct commercial decisions for the business, its immediate health and being consistant with medium to long term goals. Then its a matter of making these decisions as tax effective as possible.
What are you doing about your tax planning? Does your accountant proactively work with you to maximise your wealth (tax is just one small part of the picture)? If not, take a look at  http://www.greentaylor.com.au/