Tax Planning Services in Melbourne

When it comes to your business’ taxes, it pays to plan. Our tax advisors will develop a plan to minimise your tax bill, saving you money and helping you better achieve your goals.

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Melbourne Accountants & Mortgage Brokers | Elephant Advisory
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Are you looking for business tax planners in Melbourne?

For a free consultation, give us a call or come in for a chat at our Mount Waverley, Port Melbourne or Chadstone offices.

For every small business, one of the biggest expenses is meeting your tax obligations. Luckily, with the right tax planning, your business can reduce tax costs whilst maintaining a healthy cash flow. Our business accounting experts will identify your potential areas of tax savings and help implement strategies that will minimise your tax payable. At Elephant Advisory, we can improve your business’ financial position to set you up for success.

Tax Estimation

We’ll be able to assist you with estimating your tax payable before the end of the financial year. Our tax estimates are derived through the use of forecasting your profits based on prior year and current year. This information can be critical for helping your business avoid or prepare for a nasty bill at tax time. A great tax plan will be able to establish your approximate tax liability, allowing you to budget accordingly.

Tax Minimisation

Minimising your tax liability is the ultimate goal of tax planning. We’ll identify all the potential areas for tax savings and help you implement suitable strategies to maximise allowable deductions or incentives. This will include factoring in your business goals with the aim of minimising the liability owed to the ATO at the end of the financial year.

Tax-Effective Structuring

As accountants who specialise in small business, we have extensive experience putting in place tax-effective structuring that can save your business money. Having the right tax structure in place will ensure the average rate of tax is as low as legally possible.

Regular Reviews

We’ll conduct regular reviews of your tax strategies and structure to make sure you’re in the best position to meet your business and profitability goals.

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Tax planning expert Oz speaks with a client at a table

Your Tax Planning Experts

Our tax planning specialists in Melbourne will provide invaluable support to your small business is ready for tax season. By thoroughly analysing your financial situation and identifying potential tax savings opportunities, we'll help you minimise your tax liability and maximise your deductions.

With our guidance, you can plan ahead and take advantage of all available tax benefits, saving your business money and increasing your bottom line. Partner with expert accountants who will make the most of the tax planning opportunities available to you.

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Eight great tips for sole traders at tax time

Tax time as a sole trader can be a stressful experience. Luckily, with a little planning and preparation, you won’t need to dread doing your next tax return. In this blog, you’ll find all the important tax information for sole traders and our eight best tips for minimising your next tax bill.

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A sole trader poses for camera inside his hat-making workshop
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Meet Our Tax Planning Team

Sam Draper and Oz Karabadjak are two highly-skilled accounting professionals with extensive experience growing small businesses in Melbourne. As CPA and Chartered Accountants, the pair had been on their own small business journey for two years before merging with Elephant Advisory in 2021.

Today, Sam and Oz have built long-lasting relationships with each client through genuine care for their work. If there’s one thing these Melbourne small business accountants love more than crunching numbers, it’s watching a client achieve their business goals.

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Tax Planning FAQs

Tax planning should be completed every year and can be done all year round. For many businesses, tax planning strategies are often implemented in the months leading up to the end of financial year.

Tax planning will help you avoid the unpleasant surprises of tax bills. It will ensure you have adequate savings in place to pay any liabilities and can ultimately save you money by minimising your tax payable.

There are many different tax planning strategies which may help your business minimise its tax bill. Some of these strategies include: bringing forward and pre-paying regular business expenses, delaying your invoices until after the 30th June, utilising a low superannuation tax environment by contributing personal super contributions (be mindful of the contributions caps), writing off certain assets for the instant asset write-off and reviewing and writing off bad debts before the 30th June.

A tax plan can be included into your monthly or annual fees. Please get in touch with our accounting team to receive a price tailored to the needs of your business.

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Related resources

July 19, 2023
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Five Common Business Tax Mistakes To Avoid

Many business owners fall into the same tax traps, leading to unnecessary costs during the critical early stages of your business journey. In this article, we’ve outlined five of the most common types of tax mistakes that small business owners make and the steps you can take to avoid them.

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Our top accounting tips for hospitality businesses

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Melbourne Accountants & Mortgage Brokers | Elephant Advisory