This article first appeared in The Q Review Winter 2019 Edition.  To receive your FREE copy – Subscribe here

Put the magic of compounding to work for you in every facet of your business and financial life.

Our Fail-Safe Tax Minimisation Principles

Let’s make something very clear from the outset:

We are not anti-tax, and neither should you be either!

Taxes are absolutely necessary to make and maintain this amazing country we live in.

However just as “profit” is not a dirty word, choosing to ensure you pay only the legal minimum amount of tax is also not taboo.

In Parts 1 & 2 of this Blog series we discussed our first two fail-safe tax minimisation principles.  You can read about them here Part 1 and here Part 2.

In Part 3, we present our third fail-safe tax minimisation principle, which the most engaged CapitalQ Community Members employ to ensure they pay the absolute legal minimum tax and, in the case of business owners, to get above and beyond salary and wage earners on the financial ladder of life.

Fail-Safe Tax Minimisation Principle Number 3 – It Must be Performed Continually and Proactively

As a starting point, you must have an Accountant who will hold up their end of the bargain. They must be proactive in their search for tax savings on your behalf.

Now you will never meet an accountant who will not describe themselves as “proactive”.

But the proof is in the pudding!

Ask for testimonials from their existing clients as to just how proactive they really are.

Then, you must be prepared to assist your accountant to do their thing including –

  • Asking questions • Not keeping things a secret (don’t ask them to fix it after the event, it is usually too late by then)
  • Be prepared to pay for it (sorry, but it’s true).
  • And on the compounding theme, this needs to be a continual ongoing process, both at your accountant’s level, and at your own, firstly to allow the build-up of savings but also to help avoid one off disasters that could bring all the good work done up till then, undone!

This concludes this Blog series on maximising your tax minimisation.

To start your own personalised ongoing Tax Minimisation Strategy, call 9228 7100 or book a Free, No Risk, Initial Consultation online today.