Strategies
INFORMATION ONLY
1. Bucket Company – “Cap” Your Tax at a Lower
Company Tax Rate of 25% or 30%
2. Company – Base Rate Entity – Lower Tax Rate of
25%
3. Dividend Payment – To Individual(s)
4. Income Splitting
5. Investment Bonds – Tax Free if Held for 10 Years
6. Small Business Entity Rules – Do not qualify
7. Small Business Entity Rules – Qualifies
8. Small Business Income Tax Offset
9. Stock – Simplified Trading Stock Rules – Small
Business Entities Only
10. Super – Non-Tax-Deductible Super Contributions
11. Superannuation – Downsizing Contributions
from Sale of Family Home
12. Superannuation – First Home Super Saver
Scheme
13. Superannuation – Government Super CoContribution Eligibility
14. Superannuation – Spouse Super Contribution
Splitting
15. Superannuation – Spouse Super Contribution Tax
Offset Eligibility
16. Tax Effective Loan Restructure – Investments
17. Trust Distribution Resolution
INCOME
18. Bonus Payments – Received
19. Capital Gains – Defer to Next Year
20. Income – Bring Forward to This Year
21. Income – Defer to Next Year
22. Interest & Investment Income – Defer to Next
Year
23. Management Fees Received
24. Primary Producer – Farm Management Deposit
Scheme – Received from Account
25. Wages Received
EXPENSES
26. Allowance – Claim against any allowance you
receive, if eligible
27. Associate Lease – Motor Vehicle
28. Bad Debts – Write Off
29. Bonus Payments – Payments
30. Capital Losses – Crystallise these Before 30 June
2023
31. Contractor – Change from Employee to
Contractor
32. Donations
33. Employing the Family
34. Expenses – Bring Forward
35. Giving (Donations) – Increase using a
Discretionary Trust
36. Health, Lifestyle & Weight Loss Coaching
37. Home Office Costs *UPDATED*
38. Instant Asset Write Off
39. Investment Property – Depreciation
40. Investment Property – Repairs & Maintenance
41. Management Fees Paid
42. Motor Vehicle Logbook
43. Overtime Meal Allowance
44. Personal Services Income (PSI) Entity
45. Prepayment – Accounting Fees
46. Prepayment – Expenses – Other than Small
Business Entities
47. Prepayment – Expenses – Small Business Entities
only
48. Prepayment – Income Protection Insurance
-100% Tax Deductible
49. Prepayment – Interest Expense – Investment
Property
50. Prepayment – Interest Expense – Margin Loan
51. Primary Producer – Accelerated Depreciation
52. Primary Producer – Farm Management Deposit
Scheme – Paid to Account
53. Primary Producer – Forced Disposal/Death of
Livestock
54. Salary Packaging Private Motor Vehicles
55. Start Up Business – Deduction for Professional
Expenses – Small Business Entities Only
56. Stock / Work In Progress – Valuation
57. Tax Audit Insurance – Payment before 30 June
2023
58. Telephone Expenses
59. Temporary Full Expensing of Depreciable
Assets *UPDATED*
60. Tools of Trade – FBT Exempt Items
61. Travel – Business Travel for Employees &
Spouse
62. Travel – Overseas Conferences & Study Tours
63. Travel Allowance – Business Travel
64. Travel to Tax Agent (Accountant)
65. Wages Paid
SUPERANNUATION
66. Superannuation – Carried Forward Unused
Superannuation Caps
67. Superannuation – Child Personal Super
Contribution + Trust Distribution
68. Superannuation – Pay Employee Superannuation
before 30 June 2023
69. Superannuation – Prepay 2023 Super Strategy
(SMSF Member)
70. Superannuation – Tax Deductible Super
Contributions
“OTHER” TAX PLANNING ADJUSTMENTS
71. OTHER – Information Only
72. OTHER – Income (calculated saving)
73. OTHER – Income (custom saving amount)
74. OTHER – Expense (calculated saving)
75. OTHER – Expense (custom saving amount)
76. OTHER – Superannuation (calculated saving)
77. OTHER – Superannuation (custom saving
amount)
Year End Reminders
1. 2023 – S100A + Family Trust Distributions
*NEW*
2. 2023 – Professional Firm Profit Allocation
*UPDATED*
3. 2023 – “Owies” Case + Trust Deed Updates
*NEW*
4. 2023 Div7A Company Loan Elimination Strategy
*NEW*
5. Additional tax on super for high income earners
(auto selected based on data entry)
6. Asset Protection
7. BAS Adjustments
8. Cash Basis Accounting
9. Company Beneficiary
10. Company Tax Loss Carry Back
11. Division 7A and Company Loan Accounts
12. Division 7A Loan Accounts (Subsequent Years)
13. Employment Termination Payments (ETP’s)
14. Fringe Benefits Tax (FBT) Recommendation
15. Other Notes – Add customised strategies
16. Overdue Returns/Obligations
17. Pay Interest on Sub Trust Balances before 30
June
18. PAYG Tax Instalments – July 2023
19. Pension Amounts – Do they need to be adjusted
before 30 June 2023?
20. Personal Use Assets
21. Personal Services Income (PSI) – Laws Apply to
You
22. Personal Services Income (PSI) – Laws Do Not
Apply
23. Salary Payment for 2023
24. Superannuation Salary Sacrifice Strategies – Are
They Still Effective?
25. Salary Sacrifice and Salary Packaging for
Employees (Including Directors)
26. Single Touch Payroll (STP) Changes from 1 July
2021
27. Small Business Entities
28. Small Business Income Tax Offset
29. SMSF Trustee Issues
30. Starting an Account Based Pension in the New
Financial Year
31. Superannuation – Carry-forward Unused
Concessional Contributions
32. Super Guarantee Contribution – Increased to
11% for 2023 *UPDATED*
33. Superannuation Contributions
34. Tax Averaging – Primary Producer
35. Tax Averaging – Special Professionals *NEW*