Accounting Services
Tax Planning Services That Work All Year Round
Stop being surprised by your tax bill.
Proactive tax planning for small business owners means fewer shocks, more certainty, and keeping more of what you earn — legally.
What Is Tax Planning and How Can Tax Planning Services Help?
Tax planning is the process of organising your finances throughout the year to legitimately reduce the amount of tax you pay. It’s not about dodging your obligations — it’s about making smart decisions at the right time, using the strategies available to you under Australian tax law.
Most small business owners only think about tax in May or June, by which point many of the best opportunities have already passed. Effective business tax planning starts much earlier and runs throughout the financial year — looking at your structure, your timing, your deductions, and your income to make sure everything is working in your favour.
At LBA, our tax planning services are designed to be ongoing and proactive. We work with small business owners, sole traders, and professionals across Australia to build tax strategies that reflect how they actually run their businesses — not a one-size-fits-all checklist.
Who Benefits Most From Tax Planning?
Many people assume tax planning is only for large businesses or high-income earners. In reality, tax planning can benefit almost anyone who wants greater certainty around their tax position and more control over their finances.
Sole Traders
Tax planning helps sole traders understand their likely tax position before year-end, identify available deductions, review superannuation contribution opportunities and assess whether their current business structure is still appropriate.
Companies & Small Business Owners
For companies, tax planning often involves reviewing business performance, managing income timing, maximising available small business tax concessions and ensuring sufficient cash is set aside for upcoming tax obligations.
High Income Earners
Individuals earning higher incomes may benefit from strategies involving superannuation contributions, investment structures, timing of income and deductions, and broader tax planning opportunities that align with their long-term goals.
Property Investors
Property investors can benefit from tax planning by reviewing rental income, deductible expenses, depreciation claims, capital gains implications and strategies to manage overall taxable income.
Good tax planning isn’t about last-minute deductions in June. It’s about understanding your position early enough to make informed decisions that can genuinely improve your outcome.
Tax Planning Strategies We Use With Clients
Business structure review
Making sure you’re operating in the most tax-effective structure (sole trader, company, trust) for your current situation and goals.
Income timing
Deferring or accelerating income and expenses to optimise across financial years.
Superannuation contributions
Using concessional contributions as a tax planning tool, particularly for high-income earners and business owners.
Deduction maximisation
Making sure every legitimate deduction is captured — home office, vehicle, equipment, professional development, and more.
Small business tax concessions
Using available ATO concessions including the small business income tax offset, instant asset write-off, and CGT concessions.
Year-end planning meetings
A dedicated conversation before 30 June to review where you’re at and what actions make sense before the financial year closes.
Common Questions
When should I start tax planning?
Tax planning is most effective when it’s done throughout the year rather than waiting until June. While many business owners only think about tax planning before 30 June, some of the best opportunities arise much earlier. Reviewing your position quarterly allows you to monitor profitability, cash flow, tax obligations and potential planning opportunities before time runs out.
Is tax planning legal?
Absolutely. Tax planning uses legitimate strategies within Australian tax law to reduce your tax liability. It’s very different from tax evasion, which involves hiding income or making false claims. Good tax planning is something the ATO expects responsible business owners to do.
What is the difference between tax planning and tax preparation?
Tax preparation focuses on reporting what has already happened by preparing and lodging your tax return after the financial year ends. Tax planning happens before year-end and focuses on identifying opportunities, reviewing your structure, managing deductions and making strategic decisions that may help improve your tax outcome. In simple terms, tax preparation looks backwards, while tax planning looks forwards.
How much can tax planning save me?
The benefit of tax planning varies significantly depending on your income, business structure and circumstances. For some clients, tax planning helps provide certainty and avoid surprises. For others, identifying opportunities around timing, business structure, superannuation contributions or tax concessions can result in substantial tax savings. The earlier planning starts, the more options are generally available.
Do you offer tax planning advice for sole traders?
Yes. Tax planning for small business includes sole traders — in fact, it’s often where some of the best opportunities are, particularly around structure decisions, superannuation, and deduction strategy.