A common theme among new clients who come to MCA is that people are shocked when they do their taxes for the year. They come looking for a miracle cure.

At MCA, we cannot offer a miracle cure, but we can plan before 30 June to estimate the tax for the year and develop strategies to help legally reduce the tax bill.

More importantly, the tax planning process allows business owners to know how their business is performing and allows them to take corrective action should something need addressing. By reviewing the business numbers in real time, you are in control. In today’s world, I am shocked that many business owners don’t know their numbers even though they have the technology to do so.

As the third quarter of the financial year has passed, now is the time to review the numbers and plan for the strategies to help reduce your tax for 2024, but also review the strategies for 2025 and beyond.

Tax planning is a personalised process, and it’s essential to tailor your approach to your individual circumstances. If you have specific questions or need assistance with tax planning or reviewing your numbers please contact me at mark@mcaccg.com.au or call on 02 9923 2959 to see how we can help you.

“This is general advice only and not to be interpreted as individual advice specific to your situation. Contact us to discuss the best solutions for your needs.”