Tax, super, and strategy: Why contacting your accountant early pays off

As the end of the Australian tax season approaches, many people are rushing to gather their paperwork and lodge their returns, often leaving it to the last minute. However, seasoned tax experts will tell you that waiting until the final days can be a missed opportunity—especially when it comes to tax planning.

Being proactive about your tax situation well before June 30 can help you reduce your tax burden, maximise your deductions, and even make strategic decisions around your superannuation, potentially offering substantial long-term benefits.

For those of us in rural NSW, where agriculture, mining, and small businesses play a major role in the economy, understanding the nuances of your financial situation is more important than ever.

Taxes are complicated, and without expert guidance, it’s easy to miss deductions or strategies that could benefit you. This is where Sage Wealth Builders comes in.

Based in Quirindi, Sage Wealth Builders is a fresh and dynamic accounting firm with a vision to do things differently.

With over 25 years of industry experience, Sage Wealth Builders isn’t just about filling in tax returns—it’s about building lasting relationships with their clients and offering tailored financial strategies that help people thrive year-round.

While many accounting firms may be quick to offer a one-size-fits-all approach, Sage’s focus is on getting to know each client’s unique situation, whether they’re a farmer managing fluctuating commodity prices, a small business owner facing cash flow challenges, or an individual looking to make the most of their superannuation.

A key aspect of their service is tax planning. By meeting with your accountant before the end of the financial year, you can discuss potential tax-saving strategies that could have a significant impact.

These strategies might include deferring income or bringing forward expenses where possible, or considering deductions for things like work-related expenses, travel, and equipment. What’s more, with the right advice, you could even use your superannuation to offset some of your tax liability.

Contributing to your super before June 30 can help lower your taxable income, allowing you to take advantage of concessional tax rates and maximise your retirement savings at the same time.

For farmers and those in mining or other industries where income can fluctuate, having a clear strategy in place before the end of the year can help smooth out any unexpected tax burdens. Sage Wealth Builders understands these industries and their unique financial challenges.

They’re committed to supporting their clients with proactive tax strategies that align with the seasonal nature of their businesses. By thinking ahead and engaging in thoughtful tax planning, you can reduce the impact of tax season and set yourself up for success in the following year.

In addition to their tax expertise, Sage Wealth Builders also offers superannuation and finance advice, helping clients make the most of their retirement savings and other financial goals.

Whether you’re looking to maximise contributions to your super, diversify your investment portfolio, or seek advice on structuring your finances for the long term, their team has the expertise to help you navigate the complexities of superannuation and financial planning.

As the end of the tax year draws near, now is the perfect time to reach out to Sage Wealth Builders. With their comprehensive, client-focused approach, they’re ready to help you make the most of every opportunity to reduce your tax liability and secure your financial future.

Remember, good tax planning isn’t just about minimising what you owe; it’s about setting yourself up for success in the years ahead. So don’t wait until June 30, contact Sage Wealth Builders today and take control of your financial future.