Tax is a complex area, and becomes more so if you run a business or have several sources of income.
Numerous factors will affect the amount of tax you should pay each year, including your job, savings and personal circumstances. But for many of us, fear of paying too little tax (and the possibly consequences) means we often end up paying too much.
Accountants do not advise on Wealth Creation
We provide tax planning advice to our clients in combination with strategies on how to build wealth.
Ordinary Income
Capital Gains and Qualified Dividends
Tax-Exempt Income
You can boost your finances with some careful tax planning. This will be an ongoing process rather than a one-off activity, because tax law is complex and never stays still for long. By staying up to date with the latest rules, reliefs and allowances, you can ensure that you are not paying any more than you need to.
At Benchmark Strategic, we can help you identify all your areas of tax wastage and advise you on ways to become more tax efficient, saving you a significant amount of money over the longer term.
Key Tax Planning Strategies
By obtaining strategic tax planning advice, we assist clients in reducing their taxable income on a number of key strategies, including:
- How buying an investment property can reduce the tax you pay every year.
- How prepaying interest on investment loans can assist you with a one year tax benefit.
- How salary sacrificing money into superannuation can significantly reduce you tax liability.
- How building a share portfolio can reduce your taxable income depending on your current marginal tax rate.
- How to structure investments correctly to reduce the overall tax you pay on earnings and future capital gains (i.e. individual, company versus superannuation and pension structures).
- How to plan for your retirement to ensure you are minimising your tax liability when you do eventually retire from the workforce.