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The 5 Things Every Investor Needs to Know about Negative Gearing and Property
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2019 Year End Tax Planning Guide
The end of another financial year is fast approaching and as your accountant, we believe part of our client brief is to help you minimise your tax liability within the framework of the Australian taxation system.
The purpose of this newsletter is to highlight some end of year tax planning opportunities but you need to act quickly and we encourage you to schedule a meeting as soon as possible to assess your options and the steps you need to take well before the 30th June, 2019.
Please note, this is a pre-Federal Election Guide and things may change after May 18, 2019.
You can download the full copy of the tax planning guide HERE
To assist you we have put together a list of strategies to consider and note:
- To maximise benefits for the current financial year, we suggest you prepare a preliminary calculation of your taxable income for the year ending June 30, 2019 to establish if you have a tax 'problem' and identify the size of your likely tax debt.
- Review all tax deductible expenses and assessable income in the latest available figures to determine the possibility of pre-paying some expenses before June 30 or deferring some revenue until after July 1st.
The following list of tax planning opportunities is certainly not exhaustive and depending on your circumstances (including your turnover and whether you are on a cash or accruals method of accounting), terms and conditions may apply to some of these tactics. If you would like to discuss your tax planning options we urge you to contact us today and most importantly, don't leave it until the last minute as some of these strategies require some time to implement.
Pre June 30 Tax Minimisation Strategies
:
To minimise your tax liability there are several general strategies to consider before
the end of the 2018/19 financial year including delaying income and bringing forward losses.
Read More...
Round Up of Other Year End Tax Issues
Other things that need to be addressed before the end of the financial year including motor vehicle log book, superannuation rates and
other issues for small business owners.
Read More...
Other Tax Effective Strategies for
Businesses to Consider
In addition to the tax planning opportunities, there are a number of reporting requirements regarding stock valuation options, writing off
bad debts, etc. for businesses to consider.
Read More...
Superannuation Tax Planning
Opportunities
Before making any superannuation
contributions please discuss this with our office. There are strict eligibility requirements. Most importantly, regardless of the type of
contribution being made, transfers and deposits must clear before June 30.
Read More...
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Immediate
Write Off For Individual Small Business Assets
Details of what's required to obtain the immediate write off for individual small business assets valued lower than $30,000.
Read More...
Disclaimer: This newsletter contains general information only. No responsibility can be accepted for errors, omissions or possible misleading statements. No responsibility can be accepted for any action taken as a result of any information contained in these articles. It is not designed to be a substitute for professional advice and does not take into account your personal circumstances.
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Are Registrations Just Another Brick In Your Business Wall?
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Is Planning Just Another Brick In the Business Wall?
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Is Insurance Just Another Brick In Your Business Wall?
When it comes to insurance, a lot of business owners think like Pink Floyd, “All in all it's just another brick in the wall”. However, your choice of insurance is a key part of your business foundations. For business start-ups, insurance can seem like just another expense in a long line of costs, however … Read More…
Marketing and consumer behaviour has changed. You can now buy almost anything online and for most businesses, your website is your silent sales person working 24/7 to generate leads and sales. Read More…
When You Employ Your First Staff Member
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3 Steps to More Online Traffic, Leads and Sales
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Video Killed The Radio Star... But Can Grow Your Business
Video is now a critical part of the marketing landscape and YouTube is the second biggest search engine behind Google. Online video content is 'white hot' and it is important not to ignore this shift in consumer behaviour. Read More…
Once you have had that ‘light bulb moment’ and come up with your brilliant idea for your new business you want to get started in a hurry. Before you make your decision regarding the most appropriate business structure there are some key considerations. Read More…
Before You Start Your Business
Once you have had that ‘light bulb moment’ and come up with that brilliant idea for your new business you want to get started in a hurry. However, before you make any big financial commitment you want to make sure the concept has ‘legs’.
Just as evolution in animals dictates that only the fittest survive, in a recession it is generally survival of the smartest. In this country we seem to have a recession-like economy happening every seven to nine years and almost 75,000 Australian businesses were wiped out in the last downturn. To survive, business owners must ... Read More…
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