With the end of financial year fast approaching, it is a great opportunity to review future planning of cashflow management and to prepare for any tax liabilities for the 2021/22 financial year.

The last two years have provided many challenges but with that comes plenty of opportunities. Power Tynan make it our business to understand both you and yours, it is a journey that we thoroughly enjoy!
So, when should Tax Planning be undertaken? The answer is now! It is important to ensure that review is completed prior to 30 June 2022, as once you have passed the end of the financial year deadline there is very little that can be done.

Some of the key changes/opportunities this year include:

• Temporary Full Expensing/Instant Asset Write-Off
• Directors ID
• Changes to superannuation rates and caps
• 2022 Federal budget announcements – Technology Boost and Skills & Training Boost
• Extension of Temporary Reduction In Superannuation Minimum Drawdown Rates

Although it is commonly called “Tax Planning”, at Power Tynan we take a holistic approach and will review your entire position. We do this by challenging you and encouraging you to be brave in the ever-changing business environment and assisting you to stay relevant. This is underpinned by our strong relationship with you.

Some of the many service offerings we pride ourselves on include:
• Leasing and finance (review of interest rates, loan applications, restructures)
• Financial Planning (retirement planning, insurances)
• Audit (trust account audits, charities)
• Consulting (valuations, Growth Club/Director’s Circle, dashboards, data analysis)
• Business services (tax advice & planning)
• Superannuation (self-managed)
• Managed accounting service (bookkeeping, management reports, virtual CFO)

If you would like to get in touch with us to discuss any of the above, please do not hesitate to speak to one of our friendly advisors!