As the EOFY fast-approaches, business owners are being urged to get their financial paperwork signed, sealed and delivered well before tax-time and reap the rewards over the long-term. Here are 10 tips to get you ready for 30 June.
With June 30 closing in, experts warn thousands of business owners may miss out on tax concessions and run of the risk of paying too much tax as EOFY confusion continues to reign.
It’s just six weeks to June 30, meaning it’s time to make sure you’ve dusted off your business plan and are thinking about how you can shine in FY2013. Here’s how you can prepare for the coming financial year in five steps.
Last financial year, the ATO evaluated 1.4 million SMBs against its risk detection systems, which led to 16,000 being investigated. Here’s how to plug your EOFY knowledge black spots and escape the attention of the tax office.
Did you know that this upcoming EOFY is one of the most compliance-heavy years we’ve seen in some time. Daunting, huh? Here’s a look at what you need to be aware of.
A 1000 percent rise in Google searches of tax-related keywords since April has led MYOB to urge tax and accounting consultants to build an online presence now, or risk losing their business to competitors who are online.
Unsuspecting small businesses are often in the sights of scammers around the end of the financial year, with the Australian Competition and Consumer Commission (ACCC) suggesting SMBs remain vigilant at this time of year.
With 30 June upon us, taxpayers are looking for opportunities to reduce their tax liabilities for the fiscal year, and according to Institute of Public Accountants senior tax advisor Tony Greco, small businesses should also not overlook the cash flow benefits of tax deferral opportunities.
Wrapping up the EOFY properly ensures businesses roll into the new financial year smoothly, and helps business owners put their best foot forward from the get go. With this in mind, RSM Bird Cameron has put together 12 tips for starting the 2011/12 financial year.
MYOB’s Julian Smith blogs about the importance of giving yourself a pat on the back this EOFY.
“For some of you self-recognition is rare, you’re so busy doing the day to day work that it’s easy to miss. I encourage you to recognise the hard work and determination that you have put in to your business, what you have achieved and the contribution you make to your local business community.”
