Tax Planning

elk numbers & strategy has powerful analytics and strategies for personal and business growth. elk numbers & strategy is able to provide a proactive approach to our client’s circumstances and needs with respect to tax minimisation strategies, whilst ensuring all our clients deal with appropriately qualified, and appropriately authorised practitioners. More importantly, our expertise in structuring your affairs to fit with your financial objectives is a key part of achieving better wealth creation without excessive risk. This can involve combining taxation, superannuation, financial structuring and investment expertise.

elk and its platform of professional practitioners provide clients with a comprehensive range of financial services and related professional services. Our aim is to assist in making considered and appropriate decisions regarding financing requirements and financial health, then using these decisions as a base to build an integrated and ongoing structure, strategy and solution.

This integrated approach is consistent with our philosophy of controlling the things that can be controlled, whilst also considering and accessing additional income streams and additional assets to allow access to open market forces in an affordable and creditworthy structure. At a simple and practical level, we save time, costs and frustrations by eliminating the need to use a diverse group of finance providers, financial advisers and accounting & taxation professionals.

 

As accountants and appointed tax agents we will:

  • Prepare personal / business / trust return(s)
  • Lodgement of personal / business / trust return(s)
  • Provide taxation planning and tax strategies
  • Provide general taxation advice, including business tax advice where applicable
  • Act as contact with Australian Tax Office for matters relating to taxation affairs
  • Preparation and lodgement of BAS, PAYG and other statutory documents
  • Analyse and make recommendations regarding accounting records and financial affairs
  • Prepare financial and other statements as requested
  • Review assessments and advise on appeal procedures where necessary

 

Other services provided by elk:

PERSONAL
  • Business Registration (ABN, Tax file numbers, PAYG – Pay as you go)
  • Business Schedules and Updates
  • Instalment Activity Statements
  • EPT Eligible Termination Payments
  • PAYG Income Tax Withholding Variations
  • Negative and neutral gearing
  • Rental Property Advice
  • Capital Gains Tax, Property and Shares
  • Fringe Benefits Tax
  • Salary Sacrifice
  • Land Tax
  • STS – Simplified Tax System
  • Foreign Income
  • MYOB and Quickbooks Online

 

Selling assets or shares

Timing the sale of assets can affect the amount of tax you pay. For example, selling shares more than 12 months after the original purchase date would incur capital gains tax at a lower rate. In some circumstances, a capital loss can be carried forward to a financial year when a capital gain applies – therefore incurring less tax on that gain.

These are just a few options available when discussing your tax strategy with a qualified elkcorp representative.

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