How we have helped an existing
business owner to increase his SMSF
Dino’s Painting Services
Dino, Director of Dino’s Painting Services, was upset because his tax affairs were not being managed properly. Dino was making millions, but he was short of cash flow due to bad management of day to day business operations.
When Ali Chowdhury, AC Accounting’s principal, took Dino as a client in 2008, he had only 25k in his super fund (even though Dino had been working since he was 18).Ali had a long discussion with Dino and conducted a holistic activity analysis of his business, financial, and family circumstances.
This helped Ali design an accurate strategy to reduce Dino’s tax and create a healthy cash flow.
Additionally, Ali reduced significant costs by cutting idol activities and putting those extra expenses into Dino’s super.
Within 10 years, Dino has been able to accumulate over 1M in his self-managed superannuation fund (SMSF).