It's tax time again.....

To get some guidance from one of our Business advisors regarding your obligations to the ATO contact us HERE.

The end of the financial year is an important time for your small business. You'll need to complete bookkeeping, tax returns and plan for the new financial year. Learn how to prepare for the EOFY to get your business organised and work smarter in the year ahead.

The end of financial year is just around the corner.  Before you know it your deadline to lodge will be upon you as well.
As a small business owner, preparing your business financials for end of financial year should be a crucial part of your business plan.

Here are a few tips to consider to assist you with your ATO obligations:
1. Make sure all of your documents are in current such as trusts, partnerships etc
2. Review your cashflow to allow for any applicable personal tax, BAS,  as well as any employee superannuation if applicable.
3. Towards the EOFY ensure that your record keeping is up to date.
4. Make sure that your employee information is correct including their employment status (casual, full time, part time etc) as well as any contracts you may have with them.
5. Make sure you are up to date with simple work related deductions.

There are many other things to take into consideration.   You can find more information from the ATO website HERE or for further assistance you can contact one of our business Advisors for a one on one advisory session.  Enquire HERE