End of year Tax Planning with AccXite


The time is upon the Australian tax payers to start preparing their 2010 income tax returns. In the returns income and expense relating to the period between 01/07/2009 and 30/06/2010 will be declared. Once the assessment is made, the Australian Taxation Office (ATO) may give you a tax refund or may ask you for more tax. It is ok if you get tax refund, however what if you need to pay more tax....?

The truth is you can plan your tax matters to ensure a better position. The tax plan may help you to either:
    1. increase your tax refund; or
    2. reduce the tax payable.

Given the economic condtion everyone should strive to get the best possible tax outcome while complying with the tax legislation.

So many people who would not want to pay unnecessary tax for 2010 financial year, forget that the planning to reduce the tax should be prepared and actioned before 30 June 2010 not after. Therefore you have only few weeks to ensure that the tax you pay in 2010 financial year is the absolute minimum possible.

Tax matters are complicated and it would be much easier if you have access to a registered tax agent who is proactive!

As your trusted advisors AccXite will ensure your tax matters are handled by experts in the field. Please contact us to discuss your tax issues.