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Today is
Taxation Planning
[ 13 Jan 2004 ]
Allow us to make tax easier for you
Taxation is, of course, the basis from which a government derives a great deal of its revenue. Individuals and companies in Australia, as in other countries, must pay tax in various forms. Knowledge of taxation planning is essential since taxation implications must be considered in every financial decision. An important role of the financial planner is to recognise its complexity, thereby alerting clients to the need to seek further tax specialist advice, as well as assisting clients to maintain adequate records which explain the nature of their financial transactions. The existence of adequate records goes a long way to minimising compliance costs.
Tax planning can take the simple form of delaying income and bringing forward deductions. It can also encompass methods of spreading the tax burden over more than one person. Tax planning also has regard to the type of structure a person uses (such as a trust, partnership or company) to hold assets owned by a family or to conduct a business. Tax planning ensures that, wherever possible, the concessional tax rules for capital gains, franked dividends, superannuation and other types of income from investments are utilised.
Cochrane Shaw has both the knowledge of and access to a wide range of tax effective investments. |
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