With the end of financial year approaching, it may be a good time to get your businesses tax in order before the end of the month.
Commonwealth Bank of Australia has outlined 5 things to do before the end of the month to help keep on top of reporting due dates and minimise your tax liability.
- Bring forward post-July expenses to June to help claim a deduction this financial year.
- Get your paperwork in order to keep track of how your business is going and to make it easier to claim deductions.
- Write off customers who are unlikely to pay you in the new financial year as bad debt.
- Make sure your employees’ super contribution are in order and being paid correctly.
- Be sure to not miss tax deadlines.
Keep this checklist handy to help with your fiscal health. Contact East West Insurance Brokers to make sure your insurances are all up to date on 1800 809 132 or email email@example.com