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Wealth Planning Services

Impact Taxation & Financial Services

Wealth PlanningStarts With Tax Planning

The most powerful way to build long-term wealth is not just choosing the right investments. It is using the right ownership structures and tax strategies to legally minimise tax — so every dollar works harder for you.

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Explore Our Approach

✓ Tax Planning & Strategy
✓ Wealth Structuring
✓ Property Tax Advice
✓ Business Accounting
✓ Based in Bankstown, Sydney

Our Approach

Where Wealth Planning Starts With Tax Planning

At Impact Taxation & Financial Services, we believe tax planning is much more than preparing an annual tax return. Our point of difference is simple: wealth planning starts with tax planning.

By legally reducing tax through proactive planning and choosing the right structures, clients can retain more of their income, reinvest those tax savings, and create significantly greater long-term wealth — not just by focusing on investment returns alone.

We provide ongoing tax planning, wealth planning, and strategic advice to help clients legally minimise tax while building and protecting their wealth over the long term.

Every dollar saved in tax that is reinvested strategically is a dollar that compounds for you over time. That is the real power of wealth planning done right.

Why clients choose us

1

Proactive, year-round planning

Not just a once-a-year tax return. We review your position throughout the year.

2

Structure-first thinking

We look at ownership structures before investments — the decisions that matter most.

3

Real savings identified

We regularly identify thousands — sometimes tens of thousands — in missed savings.

4

Local, personalised service

Based in Bankstown, building long-term relationships with Sydney clients.

$0Capital Gains Tax
legally possible on property sales
47% → 0%Tax rate reduction
through legal strategies
5 StepsProven framework
to build long-term wealth

The Framework

Our 5-Step Wealth Planning Framework

Each step builds on the last. Together they create a complete, legally sound wealth-building plan tailored to your structure and goals.

Step 01

Choose the Right Ownership Structure

The foundation of every tax and wealth strategy. Get this right first.

Step 02

Maximise Tax Savings Every Year

Identify all legal deductions and minimise what you pay annually.

Step 03

Plan Ahead

Decisions made today can compound into significant wealth over 20 years.

Step 04

Apply Investment-Specific Tax Strategies

Property, shares, crypto — every asset class has specific strategies.

Step 05

Protect Your Wealth

Insurance, succession, asset protection and estate planning.

1
Step One

Choose the Right Ownership Structure

The right ownership structure can significantly affect your tax, asset protection, and long-term wealth. Before making an investment or starting a business, we help you determine the most appropriate structure for your circumstances.

Getting this right from the start can mean the difference between paying the highest marginal tax rate and legally reducing it to zero. Every investment and business decision should be considered through the lens of ownership structure first.

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Watch: Related Videos

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2
Step Two

Maximise Tax Savings Every Year

Every year, we review the tax position of each entity within your group — including individuals, companies, trusts and SMSFs — to identify additional tax savings and avoid costly mistakes.

We have helped many clients amend tax returns previously prepared by other accountants, often identifying thousands — and sometimes tens of thousands — of dollars in additional savings that had been missed.

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3
Step Three

Plan Ahead

Effective tax planning is not just about this year’s tax return — it is about making decisions today that improve your financial position over many years. We help clients incorporate long-term tax planning strategies into their overall wealth-building plan.

The compounding effect of tax savings reinvested over time is one of the most powerful wealth-building tools available. A client who saves $20,000 in tax each year and reinvests it strategically can generate significantly more wealth over 20 years than one who focuses on investment returns alone.

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Maximize Wealth With 3 Dimensional Tax Planning Strategies

4
Step Four

Apply Investment-Specific Tax Strategies

Different investments require different tax planning strategies. Whether you are investing in property, shares, cryptocurrency or other assets, we help you understand the tax implications before you invest and throughout your investment journey.

Making the wrong decision before a property purchase or sale — or failing to plan ahead — can cost you tens of thousands of dollars in unnecessary tax. We help you get it right before you commit.

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Watch: Related Videos

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Step Five

Protect Your Wealth

Building wealth is only part of the journey. Protecting it is equally important. We help clients review and implement strategies across all areas of wealth protection.

🛡️

Insurance Strategies

Ensure the right personal and business insurance is in place to protect your income and assets.

🏛️

Asset Protection

Structure your assets to protect them from creditors and unforeseen legal risks.

📋

Succession Planning

Plan for the smooth transition of your business and personal wealth to the next generation.

📜

Estate Planning

Ensure your wealth is distributed according to your wishes in the most tax-effective way.

🔄

Business Continuity

Plan for scenarios that could disrupt your business and put your wealth at risk.

📞

Ready to Get Started?

Book a 15-minute planning session to discuss how we can help protect and grow your wealth.

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Get Started Today

Ready to Build Real Long-Term Wealth?

Most people focus on what to invest in. We focus on how to structure everything around you so that tax is minimised, wealth is protected, and every dollar you earn works harder for you.

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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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