The questions that are often asked with financial applications, in regards to the application of taxation are whether it is payable, deductible or assessable.
As an employer, a self-employed or an employee the implications are all significant.
The competitive nature of the financial and insurance markets make the tax consequences an extremely significant consideration.
When establishing a plan, considering and reviewing the taxation position for an individual or a couple, is an important part of a financial plan.
Common planning issues involve considerations that will result in having to review estate planning matters, which can involve varying income and income tax levels, along with other tax planning implications that can include GST, Capital Gains Tax, Income tax or the restructure of a company or trust and the corresponding tax implications, along with benefit deductions as determined under SIS rules.