Taxation Strategies & Financial Services
We understand your natural desire to believe that you want to pay less tax, than you already pay, as an apparently normal goal in life. It is normal but not the best goal.
Someone earning $100,000 a year might think that being able to deduct say $8,000 in necessary work related (or business related) motor vehicle expenses is a worthy pursuit because it might save them $3,120 in income tax. That person might be driven (excuse the pun) to view their choice of tax accountant from the perspective of receiving the largest tax refund possible.
It has been our approach for 36 years that we view your net cost, to obtain that $3,120 refund, as $4,880 as being more important. That is to measure the $8,000 you actually incurred less the $3,120 of income tax refundable.
It is this view that best identifies why we use different taxation strategies to minimise the actual net expense to you rather than focus on purely the tax refund. In the case of the motor vehicle expenses we encourage a strategy to minimise those expenses to minimise your after-tax expenses.
There are many lateral approaches to take in many areas of taxation that need to treat taxation as an expense to be minimised and not simply as a refund to be maximised. We look forward to an opportunity to expand upon our taxation philosophy with you.