Strategic planning is all about making the best possible choice after considering all of your available options.
Abbott’s Chartered Accountants and Abbotts Wealth Management have the experience and the professional expertise necessary to identify all of your available options in managing your taxation affairs and then put forward strategic plans capable of achieving the best possible taxation efficiencies.
Your taxation strategies could be oriented towards solving an immediate problem or, as is often the case, be oriented to positioning you for long term taxation efficiency.
We provide a vast array of strategic planning services which broadly fall into the following categories:
- Corporate Structures
- Retirement Planning
- Small Business Concessions (SBS)
- Sale of Assets
- Taxation Rollovers
- Self-Managed Super Funds (SMSF)
- Tax Losses and Deductions
- Income Streaming
- Expatriate Tax Planning
- Foreign Tax
- Immigration & Migration
- Accessing Foreign Superannuation
- Employee Share Plans (ESP)
- Legal Implications
We provide comprehensive advice on strategic planning for corporate structures to minimise the tax impact on you and your business while meeting compliance and the reporting requirements.
Retirement planning and taxation planning go hand in hand asyou enter a period of your life where taxation should be a diminishing cost. We can provide comprehensive advice and guide you through your retirement planning process so you can take full advantage of the taxation relief available in retirement.
Small business concessions (SBS)
There are many tax concessions that are available to small businesses. We can guide you through the strategic planning issues necessary to make sure you can take full advantage of the concessions available.
Sale of assets
The manner in which you approach an asset sale and its timing can have a material impact on the tax and other costs associated with disposing of assets. We can guide you through the strategic options you have for the management of the taxations outcomes from an asset sale.
Sometimes the structure you started out with will no longer suit your plans. You may be needing to upsize or downsize or introduce or remove business partners, or position yourself for different markets, or simply need to respond to a changing legal landscape.Restructuring can be complex and expensive and if not done correctly there can be unintendedtaxation outcomes. We can provide comprehensive advice and assist you with restructuring your business in thre most tax efficient manner to suit your needs.
There are a variety of ways in which a transactions taxation consequences can be deferred or removed. We can provide comprehensive advice on taxation relief through the use of rollovers to ensure you access all of the opportunities available to you.
Superannuation forms an integral part of Australia’s national savings strategy and has done so for decades.It is a complex mix of economic and social objectives and there are many opportunities to gain significant taxation benefits from this diverse legal regime. We can provide strategic planning advice in regard to the superannuation industry to ensure you are getting the maximum taxation benefit available.
Self-Managed Super Funds (SMSF)
One of the fastest growing sectors within the superannuation industry is the ability to manage your own superannuation and retirement plans. Rather than leaving it to a multinational institution to rummage through your pockets, you are able to take charge of your investments yourself and still access enormous taxation benefits.
We can provide strategic tax planning advice in regard to your self-managed super fund to ensure you are getting the maximum benefits from your fund whilst enjoying the peace of mind that you are complying with one of the most complex and restrictive parts of Australia’s tax legislation.
Tax Losses and Deductions
Sounds simple enough, but like always the devil is in the detail. We can provide comprehensive advice on the tax deductions and the use of tax losses that you may have, to ensure your business is claiming all the deductions and outgoings that are available to you.
One of the core strategic planning outcomes is to access income streaming for your taxable income. The sliding marginal tax rate system in Australia makes income streaming an absolute necessity for your business income to be taxed efficiently.
We can provide comprehensive advice and assistance you in tax planning to ensure you your income attracts no more tax than you are legally oblige to meet.
Expatriate Tax Planning
Abbotts Chartered Accountants has clients all over the world, either as expatriate Australians working overseas or as foreign residents working in Australia. Both foreign tax obligations and domestic taxes for foreign residents or expatriates regularly managed by our expert staff.
Foreign taxes is one of our specialties, if you are thinking of coming to Australia and/or investing in Australia or going to overseas and/or investing overseas, we can provide comprehensive advice and assist you to make sure you comply with the Australian tax laws.
Immigration & Migration
We can assist you with immigration and migration issues or if the issues are too complex we can refer you to the experts.
Abbott’s Chartered Accountants has managed the taxation affairs of Australians working overseas and foreign nationals working and living in Australia for decades. From the deep interior of Africa, to the America’s, Asia and Europe, we have looked after the strategic and compliance tax issues associated with Australian sourced income and assets of our clients since the pre internet days of old. These days it is so much easier to communicate with our far flung clients, but the complexity of their taxation needs continues escalate as the reach of the international taxation authorities becomes ever wider.Ignoring the complexities or getting it wrong can put a lifetime of wealth accumulation at risk. We understand those risks and we provide the strategies that deliver you the peace of mind that your tax and financial affairs are in order despite the tyrannies of distance.
Accessing foreign superannuation
For those making the permanent move to the land of opportunity it is important to be able to bring all of your wealth with you to make the next stage of your life as successful as possible.
Employee Share Plans (ESP)
If you are working within a large national or international organisation there are often opportunities to access tax efficient share plans. We can provide comprehensive advice on the employee share plans and assist you with the process of realising your assets in the most efficient taxation manner.
Sometimes the taxation issues are too large to deal with simply, or the disputes and arguments can only be resolved in a courtroom, or a safe harbour of a complex private taxation ruling is sought. Abbott’s Chartered Accountants has excellent relationships with highly specialised legal firms that can guide you through the legal maze of taxation risks and disputes. We can provide introductions or instructions to help you deal with complex legal tax matters.