Personal Tax

Personal Tax

Deciding who you should trust with your taxes is a major decision as it can help or hinder wealth accumulation and asset protection.

 

Fortunately, dnm group has the insight and expertise you need to improve and protect your financial position. We’re chartered accountants and
experts in Australian tax law with years of experience in effective tax planning. We can help you lower, minimise, or defer your Australian tax burden.

How we deal with tax

Decipher Your Obligations

The Treasury estimates Australia has 160 various state taxes, 259 national taxes, and local government rates too. Each tax has a set of laws and distinct compliance requirements. Not surprisingly, the average taxpayer doesn’t understand the tax code as its not intended for a layperson. Nonetheless, you need to comply with the ATOs requirements.

 

dnm group’s chartered accountants undergo the most comprehensive, practical and relevant income tax training to earn their designation. They work with clients and the ATO regularly and understand its intricacies. They can eliminate the “legalese” and explain everything to you simply. You’ll understand your obligations and avoid unwelcome surprises.

 

Maximise Your Deductions

The Australian Taxation Office collects taxes. They plug the numbers provided in your return into a computer, review the data, and check if anything’s amiss. However, they don’t automatically notify you if you miss deductions, offsets, or rebates, even when you’re entitled to them. Understanding the fine print in tax law and choosing the correct approach for your unique financial situation is often where dnm group finds tax savings. We identify the areas of tax law that apply to you so you don’t pay more than absolutely necessary.

 

Manage Complexity

As your wealth increases, so do your taxation needs. dnm group can manage taxation issues such as capital gains, negative gearing, and depreciation and we can calculate complex deductions to minimise your tax burden. We can provide you with advice on derivatives, tax shelter investments, and other investment products or vehicles. dnm group can also help you plan for your retirement, devise personal and business asset protection strategies, and protect your estate for future generations.

 

dnm group also works with legal partners if creating a trust suits your personal objectives and minimizes income tax payable. We can also show you how you can best benefit from your charitable efforts for tax efficiency.

 

Step Back From The ATO

dnm group’s professional accountants adhere to strict accounting standards and processes and we’re here for you when you need it. Our services include assistance if the ATO audits you and we will negotiate on your behalf. We can object or dispute a tax assessment, penalty, or an interest charge on an unpaid debt. We understand the process and tax terminology and we’ll keep you in the loop while we deal with the ATO.

 

Coordinate Personal & Business Tax Efficiencies

If you operate a business, dnm group will coordinate your personal and business taxes to optimise efficiency and meet compliance requirements. We’re in a unique position, because we offer accounting and financial planning services. As accountants, we prepare your taxes, explain how tax laws affect you, and we recommend strategies for business personal and business growth, asset protection, and succession. As financial planners, we can help you reach your life goals.

 

dnm group offers a complete service to address personal and business financial needs. We use our diverse skillset and thorough financial knowledge to overcome obstacles and create wealth. Contact us for a free, no obligation consultation and let us show you how we can assist you.

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