Tax planning means managing your financial affairs such that the amount of tax you pay is minimised as much as legally possible. The idea is that you pay all the tax you have to – but no more.
Optimising your tax planning unlocks enormous potential for your financial plan. In fact, getting the tax planning right is typically more important to your financial performance than just about any other aspect – including things like choosing the right investment. A good investment can become a bad one if you find yourself with a bigger tax bill than you needed.
Australia’s taxation system is deliberately designed to encourage people to do some things and not do others. This means that when we take advantage of quality tax planning we are actually doing exactly what the community wants us to do.
That said, it can be difficult to know exactly what the community wants you to do! Australia’s taxation rules are complex – in fact, according to the government itself, each Australian faces a potential 125 that they are liable to pay.
This makes it imperative that you seek qualified, quality tax advice provided by someone who is legally allowed to provide it.
All tax planning services arranged by our firm meet this criterion. Even better, by having us arrange your tax planning, you can be sure that the management of your tax obligations complements all other elements of your financial plan. No more situations where one hand does not know what the other hand is doing. The tax impact of everything you do is thought through before we recommend you do anything.
I am passionate in my quest to help clients achieve their financial freedom.
To have choices is ultimately what drives us all and I can help clients visualize, quantify and set out on the road to achieve their personal lifestyle goals.
Originally qualified and experienced in corporate finance, I migrated as part of as US scientific multinational to Australia in 2003 where I led manufacturing operations and latterly assumed divisional site and regional leadership roles throughout the Asia Pacific region.
My own journey to financial freedom started in 2011 when my wife and I visited a planner for the first time and were surprised to understand the power of financial choices and I then spent a number of years studying culminating in a Masters Financial Planning qualification in 2015.
I joined the profession early in 2016 and love the feeling of making a positive impact to the lives of the people I meet on a daily basis.
Mark Baldwin is an authorised representative (1242066) of Dover Financial Advisers Pty Ltd (AFSL 307248).