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Tax Planning

Tax Planning Services for Australian Businesses

We don’t believe in last-minute tax advice. Impact Taxation & Financial Services offers strategic, year-round tax planning services to reduce tax legally and help small businesses, property investors, high-net-worth individuals, and family trusts manage their finances efficiently.
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What is Tax Planning?

Business tax planning involves reviewing your business’ financial situation and planning ahead to reduce the amount of tax you legally owe. It’s a proactive process — not reactive, and it’s about more than just deductions.

Key tax planning strategies include:

  • Choosing the right ownership structure
  • Timing the sale of assets or receipt of income
  • Making extra superannuation contributions
  • Managing distributions from a family trust
  • Using temporary full expensing or depreciation strategies
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Why Tax Planning Services Matter For Businesses

For Businesses

  • Reduce the overall tax payable through legitimate strategies
  • Improve cash flow through smooth tax payment forecasting
  • Prepare your business for sale, restructure, or succession

For Individuals

  • Plan for major life events (e.g. property purchase or sale, inheritance, retirement)
  • Reduce tax on investments or income from multiple sources
  • Manage trust distributions in line with ATO rules

Tailored Tax Planning Advice and Structuring Services

Every plan is built around your structure, assets, and financial goals. We combine smart structuring with deep ATO knowledge, so your business stays compliant while never overpaying. Our services include:
Set up or restructure your business for the best tax efficiency.
Plan ahead for investment and asset sales.
Understand stamp duty, ownership structures, and future obligations
Know your potential tax bill before you list.
Set up or review trusts to protect assets and manage tax across generations.
Tailored strategies for managing complex income streams, investments, and multi-entity structures.
Get guidance and representation during ATO audits or reviews, with a focus on fast, fair outcomes.
A yearly review to keep your structure, obligations, and strategies aligned with your business.

Expert Help With ATO Risk and Audit Resolution

Received a warning letter? Need help avoiding audit triggers? Good tax planning reduces risk, but we also support clients who face ATO audits or data reviews. We offer:

  • ATO risk reviews
  • Pre-emptive documentation
  • Liaison with the ATO
  • Help resolving disputes, data-matching issues, and late lodgements

Our Corporate Tax Planning Process

We keep our tax planning services simple and focused. Here’s how your tax planning journey works with us:

1

Initial Review

We assess your current business or financial structure, income streams, and previous tax outcomes.

2

Opportunity Assessment& Preparation

Our team identifies where you can reduce tax, restructure, or time income or events to your advantage.

3

Strategy Development

We build a practical, compliant plan — including timing strategies, asset structuring, and contribution options.

4

Implementation and Support

We help implement your tax plan and keep it current with annual tax planning sessions, available in-person or online.

Why Choose Us For Business Tax Planning in Australia

Based in Bankstown and working with clients across Sydney and beyond, Impact Taxation and Financial Services specialises in corporate tax planning and business tax advice that aligns with your structure, financial goals, and compliance needs.
Forward-thinking Strategies
Our team focuses on proactive long-term planning that helps you take control of your tax position before the deadlines hit.
Tailored Advice and Personalised Service
Every financial situation is unique. We customise every tax plan to suit your business structure, financial setup, and goals.
Industry Experience Across Sectors
We work across various industries and entity types to provide advice that fits the real world.
Less Risk, Maximised Opportunities
Our tax planning services help minimise liability, manage ATO risk, and make smarter decisions for business success.

Frequently Asked Questions About Corporate Tax Planning

The best time to start is the beginning of the financial year, not a few weeks before tax returns are due. Early planning gives you time to implement strategies like adjusting super contributions, restructuring entities, or managing asset sales for better tax outcomes.
Yes. Even after a high-income year, there are still strategies that can legally reduce your taxable income. Our corporate tax planning services are designed to make the most of your current position, even if the financial year is nearing its end.
Tax return preparation and tax planning are not the same. Most accountants focus on compliance — filing returns based on what’s already happened. Tax planning, on the other hand, is proactive. It involves forecasting, strategy, and structuring. We collaborate with your existing accountants or take the lead in building a forward-focused tax strategy for your business.
Not at all. Tax planning is important for businesses of any size. It’s not just about big savings; it’s about keeping more of your hard-earned money, managing cash flow, and avoiding costly tax surprises.
You’ll need your recent financials, details on business structure, major assets, upcoming investments or sales, and any existing trust or company arrangements. Our team will guide you through exactly what’s needed to develop a tailored tax planning strategy.

Book a Corporate Tax Planning Consultation Today

There’s no such thing as too early or too late to start thinking about tax planning. Our team can provide tax planning advice and help you make smarter decisions today that will benefit you tomorrow.

Contact us or book a schedule online to learn more about our other services

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About

Impact Taxation and Financial Services Pty. Ltd. is a CPA Practice based in the Bankstown area. We are committed to customizing our services to meet your financial needs and help you achieve your visions and goals.

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    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!

    IMPORTANT INFORMATION
    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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