Planning for financial success at tax time

Planning for financial success at tax time

The end of the financial year is the traditional trigger for getting your tax in order but according to Tommy Huynh, Head of Financial Planning at This Is My Plan (formerly Tax Aid) in Docklands, it’s also the perfect time to set the groundwork for financial success in the year ahead.

“For many people, doing the paperwork for their annual tax return is the only time they spend looking at their financial position,” Mr Huynh says. “But it’s also a golden opportunity to look at the bigger financial picture and think about your individual goals.”

The team of qualified tax and finance professionals at This is My Plan work with a diverse range of clients, including families, small business owners and individuals to provide practical advice and clear answers to every tax or finance question.

“Many people feel overwhelmed or anxious about discussing tax and financial issues,” Mr Huynh says. “But there’s no such thing as a silly question. We’re here to provide real-world advice to clients that helps them make informed decisions.”  

Mr Huynh says the tax team at This Is My Plan are also experts at property taxation and self-managed super funds – areas that can be complicated and daunting for investors but needn’t be with the right professional advice.  

Nicholas Psyhogios, Head of Finance at This Is My Plan agrees that this is the best time to examine your whole financial position. “Whether you have loans for your home or investment properties or even your share portfolio, it’s important to take time to re-evaluate your finance solutions regularly.” he says.

“Things in finance are ever changing and staying on the same loan long term can mean you’re missing out on some of the benefits that other lenders might be providing now.”

With 20 years of industry experience, Mr Psyhogios believes the best finance professionals use a partnership approach with their clients, providing advice that has their clients’ best interests at heart.

“Make sure your advisors really listen and understand your goals,” he says. “An advisor from an established firm like This Is My Plan isn’t limited by certain financial providers or products which means they’re free to make the best recommendations for your individual circumstances. At the end of the day it’s all about building YOUR wealth.”

This Is My Plan is located at 744 Bourke Street, Docklands. For an appointment call 9600 1100 or book online at http://www.thisismyplan.com.au