As 30 June looms once again, the more than 2 million small businesses across Australia are going through multiple receipts reviewing what can and can’t be claimed to lower their impending tax bill.
The recent budget has given small businesses a lot to think about, and it’s no wonder some are struggling to prioritise what needs to be done in the next couple of weeks.
It’s crucial small business owners use this time to take stock and analyse the business to try and find small opportunities or improvements that could be made, and make a strong plan for the year ahead.
With the End Of The Financial Year on the not so distant horizon, it’s a good time to organise your financial affairs and assess whether your investments are structured to give yourself the best tax advantage.
If this time of year fills you with regret and disappointment, don’t despair. There is still time left to get to work on finishing this year off as well as we can. Set out to make it a Personal Best.
Bad debts can be bad news for small business. Chris Ridd, managing director of small business accounting software provider Xero Australia, explains how you can deduct them from your tax – and how you can avoid them.
One of the keys to shake-up your business in the new financial year is to keep your records up to date. Doing this increases your business’ value, provides easier access to finance and allows a better insight into how you are performing. Business policy advisor at CPA Australia, Gavan Ord, told Dynamic Business that too […]
Did you know you can claim for cleaning costs and wear-and-tear on your furniture at your home business?
It’s that time of year again when small business owners are preparing their tax returns and going over their paperwork with a fine tooth comb. To help you with your EOFY preparations, Dynamic Business, spoke with Tax Counsel at the Tax Institute, Stephanie Caredes and Senior Tax Adviser at the Institute of Public Accountants, Tony […]
The Commonwealth Bank has urged small to medium sized businesses to better prepare for the end of the financial year and begin their tax preparations. Figures released by the bank suggest that nearly one third of SMEs (29 per cent) have not even started the groundwork to fulfill their tax obligations. The research suggests that […]
