KeyPlay Business Solutions

Taxation Planning 2010

It is now May and we are rapidly approaching the end of the financial year. Once again we recommend you consider your taxation position prior to the 30th June 2010. Some tax planning now could save you a large tax bill later when you lodge your 2010 income tax returns.

It may be beneficial to do some tax planning before the end of the financial year if any of the following apply to you or your business:

• You would like to know your general tax position for the 2010 year in order to plan ahead your cash flow

• You have received a bonus or other abnormal income

• You have received capital gains from sale of property or shares

• You have had large profitability in your business

• You have lost Centrelink entitlements

• You are considering transition to retirement and superannuation, or salary packaging superannuation

• You are of pension age but still paying tax

• You would like to access the government superannuation co-contribution

• You would like to consider PAYG Instalment planning including PAYG variations

If you believe you might benefit from some tax planning, please contact us at your earliest convenience so we can review your situation and make appropriate recommendations.