Today we saved a client $14,000 in tax. This is not a joke, and a genuine saving to the client meaning $14,000 will be kept in his pocket rather than going to the Australian Taxation Office.
This client was referred to us and he was concerned that he was paying too much tax in the 2011 year and that his previous accountant, had not had his best interests at heart in helping him minimise his tax for that year. We reviewed in detail the 2011 financial accounts and found no less than 8 genuine tax minimisation strategies that should have been taken up in that year to reduce his tax. You are perfectly entitled to implement any steps necessary in your business to minimise your tax. However time and time again I find accountants are not proactive enough to put themselves in the shoes of their valued customers and do everything they can do to help minimise their tax. It would certainly be a different story if the accountant had to write a cheque for an extra $14,000 to pay the Tax Office out of his own pocket rather than the pocket of his client. Maybe if that was the case, more accountants would take a more proactive view in helping their clients as much as they can to minimise tax. Snelleksz & Co. do this for their clients every day of the week.
Accountants throughout Australia take note, whilst we do some great things for our clients to add value to their business and help them, nothing beats a direct saving of cash in their hand ensuring we do everything that we can to minimise their tax for them.Businesses are struggling today. You need every dollar you can save on tax and I see examples every day of Local, State and Federal Governments, wasting valuable tax payers’ money. Put a stop to it and don’t give the Government any more money than they deserve.
If you have a business colleague who believes they are paying too much tax, then please forward my details onto them for a no-obligation meeting. We simply did this for a client referred to us and immediately we saved him $14,000.