Top 9 Tax Tips

Are you maximising your tax benefits?

Paying tax is not necessarily a bad thing. Taxes are the way in which we, as individuals, contribute to society and important infrastructure like hospitals, roads, schools and services, and Medicare. And if you’ve ever traveled to a third world country, you will understand how valuable and important this is to our community – and how wealthy we truly are to have access to these important community services.

More importantly, paying tax means you’re making money. And the more you make the more you contribute to the community.

The difficulty is that for most businesses, tax is a significant outlay – so it makes sense to ensure you ONLY pay as much as you need to.

Australia has a long history of tax minimization tactics – activities primarily focused on reducing tax - and there are several safe ways to ensure you only pay what you are required to pay, without avoiding tax. This calls for a sound tax planning strategy and a shift in mindset, from one of generating a return to one of acquiring appreciating assets. The best strategy is to a) ensure your business focuses spending on a primary income-generating purpose and b) apply some simple strategies to maximize tax benefits.

The hardest thing in the world to understand is the income tax.
- Albert Einstein


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Top 9 Tax Tips Guide
Top 9 Tax Tips

Thoughts From Our Principals

Mark Semmens

Mark is a Chartered Accountant with a wealth of experience in accounting and taxation. Mark is a Member of Chartered Accountants Australia and New Zealand, the Tax Practitioners Board and the National Tax and Accountants Association.

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Daniela Semmens

Daniela Semmens is a Co-Director of Semmens & Co. and joined the company as General Manager in 2017. Daniela is an Affiliate Member of Chartered Accountants Australia and New Zealand and also a Member of the Australian Institute of Project Management.

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