Tax Planning 2025

The importance of tax planning 

As part of our comprehensive tax and business planning, we can provide valuable insights by conducting an in-depth analysis of your business’ performance in the current financial year, and comparing this to forecasts and prior year actual results. Your business’ performance should always be viewed in the context of current economic and market conditions. 

• Identify any trends (good or bad) and the drivers behind these trends, and discuss what action can be taken to capitalise on the positive and minimise the impact of the negative
• Review your pricing and margins, particularly in light of inflationary pressures and cost increases we’ve seen over the past couple of years
• Track your progress towards your short-term and long-term goals
• Provide a fresh perspective on business operations and discuss any available opportunities such as expanding your product or service offering, or making strategic acquisitions of other businesses or staff
• Identify any obstacles the business is facing that may hinder growth, and work with you to formulate a plan to overcome these obstacles
• Provide realistic expectations for future business performance 
  Take advantage of tax minimisation opportunities before the year ends, considering legislative changes or expiring schemes and incentives
• Ensure your business structure is still appropriate for your circumstances
• Maximise concessional superannuation contributions for the current financial year, if appropriate and beneficial to do so
• Review your current remuneration package to ensure it is tax effective
• Ensure compliance with legislative requirements such as Division 7A if you have an applicable director’s loan account or unpaid present entitlement
• Assess the cash flow impact of income tax and PAYG instalments over the next 12-18 months, especially if your business is growing and may face an increasing tax burden.

Our goal is to help you effectively plan and manage your future cash flows, including any future tax obligations, and tax advantage of any available opportunities by tailoring our approach to your specific family situation. 

We can also assist with many non-tax areas and if necessary, and we can connect you with trusted experts in various fields to ensure you get the specialised advice you need.

When you complete a tax planning session with BLG, we aim to leave with a clearer understanding of your business’s financial position and the confidence to make informed decisions.

If tax planning is on your agenda, it’s crucial to start now. The end of the financial year will be here before you know it, and getting a head start will ensure you’re prepared.