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Avoid a tax time shock

Smart Tax Planning: Key Steps to Stay on Top of Your Obligations

Ensure you’re setting aside the right amount of tax by reviewing loans, insurance and income details—learn how proactive steps can save you from a surprise tax bill!

Individual taxpayers can take the following steps right now to ensure the correct amount of tax is being put aside throughout the year: 

  • let their employer know if they have a study or training support loan, such as a HECS or HELP debt; 
  • check they are only claiming the tax-free threshold from one employer; 
  • consider whether the Medicare Levy Surcharge may affect them this financial year (i.e., whether they have the appropriate private health insurance); 
  • check their income tier is correct for their private health insurance rebate; and 
  • consider voluntarily entering PAYG instalments and pre-paying tax throughout the year to avoid a large tax bill at tax time for investment or business income. 

If you would like to discuss or implement any of these steps and strategies in more detail, please contact our West Perth office on 08 9280 3555.

Related reading

Taxpayers can start lodging their tax returns

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Omnis is a strategic accounting and financial planning firm that understands you and your business, and helps you maximise the opportunity you have.

We go beyond numbers and are driven by insight, guidance, and a personalised approach tailored to your unique needs.

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Street address:
Level 2, 7 Rheola Street, West Perth WA 6005

Phone Number:
08 9380 3555

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Justin Flavel

Managing Director

Justin’s experience spans across 20 years in accounting, financial analysis and general business practice.

Although born and bred on the land, Justin’s interest was more in spreadsheets, ledgers, and finance which led him to attend university. In 1992, Justin graduated with a Bachelor of Business majoring in Accounting and Finance. As well as qualifying as a CPA member and becoming a Fellow of the Taxation Institute of Australia, he began gaining practical experience in small and mid-tier accounting practices.

During the late 90s, Justin decided to expand his horizons and travel through Europe. It was during this time that he seized the opportunity to expand his knowledge on the workings of large organisations by taking on roles in multinational corporations.

Today, Justin’s passion is in facilitating businesses to grow and evolve. His focus is on acting in the role of business mentor to help clients develop the full potential of their businesses. He joins clients on their unique journey, and provides the tools and knowledge they need along the way to make the right decisions.

Justin’s aim for his clients parallels his own philosophy and personal journey—focusing on his own career growth and business success while maintaining balance in his life with his wife and three daughters.

Omnis Group Managing Director - Justin Flavel