Less than three weeks!  Don't panic – yet!

This year we're approaching things a little differently, so hopefully there won't be any unintended consequences or nasty surprises.  If some are triggered, there may be time to make adjustments.  We can't possibly cover everything in one Blog (you'd be bored and confused) so will work in small doses (see 1).

Today, an overview of what our approach is for this planning, and the benefits to you.

1. Topics

Each day for the next few days a different matter will be looked at and in a little more depth, which may allow you to consider your planning with confidence:

1. Superannuation

2. Legal changes from 1 July 2016

3. Tax office concerns & hit list for 2016 Returns

4. General Tax Tips for 2016 end-of-year

5. Trust Minutes & Resolutions (required before 30 June)

6. Key issues 2016 for Companies, Trusts, Partnerships.

2. Benefits

No one likes paying tax, and you can't just opt out.  However, the Tax Act allows for a range of deductions and options which a taxpayer can utilize for his benefit.  Common strategies include deferring income, maximising and accelerating deductions, elections, reduction in the rate of tax or deferral in the payment of tax, concessions (eg., CGT), and 'other' (tax losses, Div. 7A loans, structure, etc.)

3. Our view

It's not only about tax.  Businesses need to make sure they have the information to run profitability and efficiently.  That's why we look at the financial trends, tax to pay and instalment amounts and timing, objectives and strategy to improve results, forecasts, and analysis and regular reviews.

With that in mind, have you considered these issues:

- What has worked well this year?

- What didn't work so well, and what could be done differently?

- What should you stop doing, or do less of?

- What should you start doing, or do more of?

So, don't be surprised if we ask you about any of these, or suggest some steps to help you take your business forward.  You might be happy to have a big tax problem next year!  And, if you've got a specific tax problem or need, call us anyway because we might not cover it in one of these papers.