Self paced tax planning course

1. Our initial objective
2. How we judge success
3. About this self-paced course
4. Public practice form

1. ATO definition
2. Tax planning versus tax compliance
3. Do all accountants and tax agents provide tax planning?
4. What are the benefits of tax planning?
5. How our tax planning service works (how to explain it to clients)
6. Tax planning ‘v’ tax avoidance
7. Size of the Australian accounting market
8. Size of the Australian tax planning market
9. Tax planning software

1. Generate an extra $30,000 in fees first year
2. Tax planning and business advisory services could increase your existing fees by 67%
3. 80% of taxpayers can legally reduce the amount of tax they pay
4. Increases client retention and generates new clients from word-of-mouth referrals
5. No extra licensing or registrations are required
6. Your current compliance tax knowledge is the base level foundation upon which tax planning expertise can be readily built
7. Opportunity to differentiate yourself from your competitors

Flow chart of the 10-step tax planning process

1. The objective of systems and practice integration
2. Segment your client base
3. Setup your top 20 clients in TaxFitness
4. Year 2 - Setup all your business clients in TaxFitness
5. Lock in annual service

1. The objective of fees and charging clients
2. Tax planning price list
3. Fee fundamentals
4. Success criteria for tax planning

1. The objective of client education
2. Show clients the benefits
3. Apply repetition
4. Educate every client
5. TaxFitness educational tools
6. Automate the process

1. What tax planning services can you sell to your clients?
2. Follow the system - benefits, process and price
3. Five pathways to sell the service
4. Client initiated
5. Top 20 business clients – customised email offer plus phone call
6. Business clients – generic email offers
7. For individual clients with capital gains, deceased estates, rental properties, crypto, or shares - generic email offer.
8. At a compliance meeting - accountant initiated
9. Focus on existing clients – not new clients.
10. Work the percentages

1. Quality of information
2. Reasons why we gather the client information
3. Essential client information
4. Useful (but not essential) client information
5. How to gather the client information
6. Know your client
7. Inputting the information into TaxFitness

1. Intellectual property and know-how
2. Tax strategies structure
3. Tax strategy attributes and attractiveness
4. TaxFitness ‘Tax Strategy Database’
5. Knowing your A, B, C’s
6. Exercise - test your knowledge

1. Two-part process
2. How TaxFitness makes selecting tax strategies easier
3. Five inbuilt filters
4. Thirteen ‘Golden Rules’
5. Twenty real-life client case studies - test your knowledge

1. Purpose of the report
2. Quantifying the tax savings
3. Explaining the selected tax strategies
4. The advantages of using the TaxFitness report templates
5. Report preparation instructions
6. Prepare reports for real-life client case studies - test your skills

1. The objective
2. Advisory meeting
3. Lock in annual service

1. The objective
2. Implementation options
3. Test your knowledge

1. My practice
2. My clients
3. Databases
4. Learning centre
5. Support

1. Legal ‘v’ illegal tax-saving strategies
2. Australia's ten most expensive legal tax breaks
3. Top 15 illegal tax-saving strategies
4. Income tax general anti-avoidance rules

1. Overview of tax planning mistakes
2. Number 1: Failing to offer tax planning services to every client
3. Number 2: Undercharging for tax planning
4. Number 3: Inadequate time spent on the tax planning process
5. Number 4: Failing to gather client information and data
6. Number 5: Inadequate tax strategies database
7. Number 6: Failing to provide the client with a written tax planning report that includes the implementation process and cost/benefits
8. Number 7: Inadequate tax planning training

1. Five advanced concepts
2. Making holidays deductible
3. Utilise business goodwill to pay out your private mortgage
4. Having fun in the workplace
5. Change a hobby into a business
6. All-inclusive holiday package

1. Overview
2. Salary packaging private motor vehicles
3. FBT exempt work-related items
4. Taxi travel
5. Salary packaging for FBT-exempt employees
6. Remote area housing benefits
7. FBT exemptions and reductions
8. Employee meal expenses on business premises

1. 10 tax saving entities
2. Companies
3. Holding Companies
4. Unit Trust
5. Husband and Wife Partnerships
6. PSI Entity
7. Discretionary Trust
8. Self-Managed Super Fund
9. Testamentary Trust
10. Partnership of Discretionary Trusts
11. Special Disability Trust

1. Holiday homes
2. Agribusiness schemes
3. Negative gearing
4. Art
5. Farm management deposits
6. Early-stage investors
7. Exploration Development Incentive
8. Antique, veteran or vintage car
9. Purchase a farm or winery
10. Investment reality check      

1. Seven strategies to maximise your return
2. Start a pension in a SMSF
3. SMSFs and shares
4. Transfer personal investments into super
5. Using a SMSF to undertake a property development
6. Transferring business premises into a SMSF
7. Self-managed super fund borrowings