The end of the financial year, nearly upon the us again, and it’s time to turn your thoughts to getting tax affairs in order to make perfect your tax position.
1. Move to a cloud based fully integrated financial management solution:
The most business owners will be common with the long process of waiting until after the year end to produce their financial reports and months work in preparing and the submitting tax returns two together for the personal and business.
2. Make the most of the $20,000 instant asset write off:
The big ticket item in last years confederate budget for SMEs was undoubtedly the short term sped up depreciation write off up to $ 20,000 for property acquired by small businesses with an accumulated annual turnover of less than $ 2 million.
3. Ensure your employees super is in order and consider the your own super strategy too:
Business owners should be knowledgeable of their responsibility under the federal governments Super stream program, which the employee super offering to be made electronically in a standard data set.