By: DOMINIC POWELL The skies are dark, the sales are on, and every ringing phone strikes fear into the hearts of Australia’s accountants. Yep, it’s that time of year again — tax time. For the handful of small business owners who are confidently across their finances and tax obligations (must be nice), the end of financial year […]
By Max Newnham Just before the end of the financial year profitable businesses often look for tax deductions that will reduce the income tax that they pay. Depending on whether the business profit is taxed at the company rate or taxed at the individual marginal rates, a better tax result could be achieved by delaying a […]
By: Pam Madytianos Normally we do a spring clean, but with business, we need to do a financial year clean. As you dash towards the EOFY finishing line, it’s a great opportunity to get your business in shape. Here’s your list of things to tidy up this end of financial year. Six ways to maximise deductions 1. […]
By Melissa Browne Hands up if you can’t believe it’s almost the EOFY? Thought so. That means a rush of advertising encouraging us to spend to make the most of tax time. The problem is, sometimes your cashflow won’t allow that spending and it can be confusing to know whether you should be spending at […]
By: Steve Burnham This checklist contains a general list of general and specific employment-related deductions and should be used as a guide only. The results may vary depending on individual circumstances. The individual should also have the relevant written evidence where required. Also, how much of the expense is allowable as a tax deduction will […]
