Purpose of Tax Planning


Tax planning is the process of forecasting one's tax liability and formulating ways to reduce it. Tax planning entails creating portfolios or circumstances that are as tax efficient as possible.

Purpose of Tax Planning:-Tax planning is a legal and accepted practice followed by business all over the world. Tax planning allows a company or individual to use tax laws and regulations to its benefit to save on the tax it would otherwise pay. These savings can be plowed back into the business to help it grown and become more profitable or to augment the wealth of an individual. Because tax avoidance is illegal and tax planning is completely legal.

Tax Planning is nothing but showing your income and investing your money in such a manner that reduces your tax liability and eventually results in saving of money. Tax Planning follows an honest approach, to achieve maximum benefits of tax laws, by applying the script and moral of law.

If you are looking for outsource tax planning, then visit our website cygnusaccountants.com.au or write an email us sales@cygnusaccountants.com.au

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