It’s only January but before we know it, June will be here! Will you be prepared and ready for EOFY?
Seriously consider now when you will do some tax planning for your business, no matter what your business structure is (sole trader, Pty Ltd etc) There’s no point calling your accountant on 31st May to help you with some tax strategies! Too little, too late!
Even if you’re paying a PAYGI (tax instalment) every quarter in your BAS, a strategy meeting early will ensure the tax you’ve paid by the end of June will firstly cover the liability at tax time and whether you need to put anything else into play so you’ll be positioned well at the end of the financial year.
Give your accountant a call soon to book in a strategy meeting – the earlier the better so you can get in their calendar now for when they’re not strapped for time. March/April can be a very hectic time for accountants!
This kind of planning is a very good investment in your business – don’t see it as an expense!
Tax is not my area of expertise (and also out of scope) but I understand how my work affects tax for my clients. I highly recommend you work together with your bookkeeper and accountant to get the best result possible for your business.
Nobody wants to pay the ATO more than is necessary – planning will ensure you get the best possible result for your business at tax time.
Supporting you in your business success
Karen Whitely
Educating & empowering small business for long term profitability
61 482 080 430