What a year it has been and now as we approach the end of the financial year 30 June 2021 (FY21) it is time to turn our minds to tax planning.
Long-term tax planning is how we set ourselves up for our business, financial and tax planning life - read more on long-term strategies here. Dynamic tax planning occurs when there are cash flow issues or other important considerations - read more on dynamic actions here and why they are important.
After such a tumultuous year where everything in our world has changed, many businesses are facing fresh challenges this year. We know of a few circumstances where businesses have struggled in an ever-declining economy over the last few years, however as we came out of our first Covid lock-down these businesses are now thriving. They have been able to use this cash flow to retire hard debt and to get themselves back on track, but many are now facing an unusually high-income year and the "bubble" tax effect this could have.
It is the responsibility of every business owner and employer to ensure they can manage their cash flow and survive in a post-Covid environment and the end of financial year cash and tax planning are critically important this year. We are talking to all our clients in relation to their particular challenges and opportunities - so, if you have not considered your situation contact us at firstname.lastname@example.org
Disclaimer: This information is general in nature. So, before acting on this or any other information, it is important to seek professional advice related directly to you and your circumstances. Should you require our assistance, contact your Primarius Team leader, or email us at email@example.com