Tax & Accounting

Advanced tax structures, that help you keep more of your wealth

Business Registration

Do you want to start your own business but don’t know where to start?

We can help you from the very beginning so that you can understand different business structures. Once you decide on a business structure, we can help you to register an ABN or ACN number, register GST and also help you to start and organise your accounting books.

With our help, you will find the process smooth, efficient and headache-free.

Individual Tax Payers

Try our copyright-protected individual return template to help you maximize deductions. With our return template, plus our tax advice, some of our clients were able to add more than $10,000 on missing deductions.

So how did we do it?

  • We have included different tabs, drop-down lists, and links to updated tax law requirements in our return template. By going through the tabs from beginning to end, plus our tips, you will not miss any deductions. 
  • Instead of providing us with what expenses you have incurred, we will ask you multiple questions to help you refresh your memory.
  • If you have lost the receipts, we will help you explore other tax office-allowed methods to find other types of written evidence to support your claims.
  • We will include some quick tax planning advice for you to help you include strategies to save tax for future years.

Sole Traders

Similar to Individual Return Template, our Sole Trader return template has helped some of our clients add tens of thousands of dollars of deductions.

  • Small businesses have a lot more deductions than a normal individual taxpayer. Our return template acts as a checklist to refresh your memory and help you avoid missing any deductions.
  • Sole traders are classified as small businesses by ATO and have special tax benefits as small businesses. We will help you to check which tax benefits apply to you.
  • We also advise our sole trader clients on asset protection and tax planning. When the timing is right, we will help change the business structure to achieve asset protection and tax savings at the same time. Some of our sole trader clients saved up to tens of thousands of dollars on tax in the first year when they changed the business structure.

Property Investors

If you are a property investor, do you know you could miss opportunities to save thousands, or tens of thousands of dollars if you don’t plan well before the purchase?

Click here to read a list of a few key considerations.

Check out our Property Pre-purchase Report to see how we can help you to make an informed decision to choose the best strategy with maximum tax savings. ​


Company structure is not only a good structure for asset protection but can also potentially help your business to save tax, compared to a sole trader structure.

  • Income splitting between your individual income and company could help you to save tax (subjected to tax office requirements for some industries). We did notice many missed opportunities in this regard when we received new company clients.
  • Other missing tax planning opportunities could go across many different topics including but not limited to: employee meal and travel allowances, FBT minor benefits, salary packaging, etc. These areas could be very complicated or time consuming for a tax accountant to explain to their clients, but they could provide major tax savings. From the feedback from our new clients, very few tax accountants provide thorough advice covering all these topics.
  • Based on current tax law requirements, company tax paid can be claimed back as a tax offset for shareholders through their dividend payout in future years (Franking Credit). It is a bit like a future “tax savings”. It seems that very few tax accountant are providing this advice to their clients. This could lead to missed tax saving opportunities for business owners, especially when they are close to retirement age.

Family Trusts

Family trust is a great structure for family members to save tax together. Due to the recent 100A guidelines, there are major changes on the way trust profit can be distributed, but it doesn’t change the fact that family trust can still provide flexible tax planning opportunities.

However, on managing family trusts and distributions, there are more considerations than traditional tax planning.

  • If you have assets in the family trust, such as an investment property, consider if this will impact on a family member’s Centrelink benefits. For an example, if you include a pensioner in key positions such as Appointor, Trustee, or Trustee Director positions, the government could include the trust asset in the asset test for aged pension evaluation. Depend on the value of the underlying asset, this could remove the pension payments altogether.
  • Trust distribution could still be ideal to allocate to people who are receiving Centrelink benefits. A common misconception is that for any family members who are receiving Centrelink payments, family trust should only distribute minimum profits to them so that it doesn’t impact on the amount of the benefits. However, there are circumstances that the tax saving could be more than the government benefits. We will always help our clients with a cost & benefit analysis to help them to compare and decide.
  • With any business structure, from a wealth planning and tax planning perspective, it is not a set and done strategy. What if the income level changes for your family members? Or your children grow up more than 18 years old? Do you need a bucket company as a beneficiary? We will help you to review your situation and update your business structure and tax planning strategies from time to time based on changing circumstances.

Book a free call with us

Contact us now and find out how we can help you achieve your financial goals.

10 things you should consider before buying a property

Are you considering buying a property? Do you know you could miss opportunities to save thousands, or tens of thousands of dollars if you don’t plan well before the purchase?

Below are a few key considerations:

1. How should you set up your loan structure? If you don’t have a loan offset account for a rental property, after you make extra payments directly to the loan account, you can only claim interest deduction on the remaining balance of the loan. For tax purposes, this deductible balance can’t be changed even if you redraw the overpaid amount later. A good loan structure could also help you to stabilize interest rate and speed up loan repayment by combining a standard variable loan (with an offset account) and a fix rates account.

2. Timing of renovation. You might want to do a renovation right after you have bought the rental property. But do you know for any genuine repair & maintenance included in the renovation, you can claim an outright deduction against the rental income when the property is available for rental? If the work is done before the date when the property is available for rental, you can only claim the deduction against future capital gain when the property is sold. Depend on when you are going to sell, it could take years or up to decades before you can claim the deduction.

3. How should you split ownership? You might want to share the property ownership with a family member. For tax purposes, the percentage of ownership is based on the legal title, regardless of who is paying more on the mortgage. If the property will give you a tax profit, you might want to allocate more
ownership to the low-income earner to utilize the lower marginal tax rate. If it is giving you a tax loss, you might want to allocate more ownership to the high-income earner to utilize the loss. The goal is for the family to pay minimum tax together.

4. Should you use a family trust to purchase the property? There are many pros and cons related to a family trust. The advantages include tax savings on rental profit or capital gain, asset protection and succession planning on family wealth. However, family trust can’t distribute losses. All losses are trapped in the trust to be used to offset future trust profit. Therefore, you can’t utilize any rental loss in a trust to offset other income such as salary & wages. Family trusts also attract high accounting fees on initial setup and annual fees on financial statements and tax returns. State governments also charge much higher land tax on family trusts.

5. Will the income level change in future years for different owners? You might want to forecast the possible income for different owners to understand total tax payment / savings related to the property. This could also impact on your decision making on point 3 and 4 above.

6. Understand when you can treat your property as main residence to receive an exemption on capital gains tax. When eligible, even if you have received rental income, you could still treat your rental property as main residence and receive the exemption. To be eligible, you will need to treat it as your main residence at the beginning. Please check out this ATO link: Treating former home as main residence.

7. Decide whether you need to purchase a depreciation report. Most taxpayers don’t know that the depreciation on the building will need to be added back to calculate capital gains tax when the property is sold. When the property is held for more than 12 months, after applying the capital gains tax discount of 50%, it will effectively cut the tax rate by half at the time of sales. This makes depreciation deductions desirable for high income earners. However, for low-income earners it might not be ideal to claim depreciation as a rental deduction since they could be paying more on capital gains tax in the future. It could get more complicated if the property is under joint ownership between high and low income earners.

8. You might want to consider Centrelink payments for future or existing owners. Most Centrelink payments are income and asset tested. Before attaching a rental property to a family member who is receiving, or plan to receive government benefits, you might want to check the testing thresholds first to see if the Centrelink payment will be impacted. This is also applicable when you are making distributions from a family trust to different family members.

9. Have you considered using your SMSF (selfmanaged super fund) to make the purchase of a rental property? There are a lot of tax saving opportunities with a SMSF since the income tax rate is only 15%. And the capital gains tax rate is effectively only 10% after factoring in the 1/3 discount. The major downside with a SMSF is normally you can’t get the money out until you retire or on compassionate grounds (SMSF does have more flexibilities compared to normal retail super fund. But the choices are still very limited). It could be expensive to set up and operate a SMSF too. There are also strict legal requirements on the trustees. Penalties on incompliance could be severe. Tax law around SMSF is very complicated too. You will need to find a good tax accountant specialized in SMSF to help you to understand the structure, also do a cost-benefit analysis before setting it up.

10. Consider internal ownership changes. For your existing rental properties, you can also consider whether you should transfer the ownership between family members, or between different business structures (this is not applicable for SMSF). You might want to do this when the income level changes with family members, or rental property changes between tax profit and loss. Before the change, you need to consider the cost of transfer including capital gains tax, stamp duty, conveyancer fees, etc. Again, a cost-benefit analysis is a must before the change.

Last but not the least, did you combine all the above strategies and compare your choices? If you haven’t yet, how would you know that you have picked the best strategy to minimize your taxes? We can help you to factor in all considerations, compare different scenarios, also present you with a Property Prepurchase Report with all our findings to help you to make a decision. Contact us today to book in a consultation with an experienced tax accountant!

This is general advice only and does not consider your financial circumstances, needs and objectives. Before making any decision based on this document, you should assess your own circumstances or seek advice from your financial adviser and seek tax advice from your accountant.

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