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The ‘To Do’ list for your business sometimes seems unending, but at the end of financial year (EOFY), it’s more important than ever to prioritise your financial ‘To Do’ list so you can get your business organised and work smarter for the next year. What are your EOFY essential tasks?
Keeping good records of your expenses is imperative to not only keep you compliant with the ATO, but will go a long way to maximise your tax deductions. How? Read what you should do to keep good records and maximise your tax claims.
More than one million people operate their business from home in Australia. You’ll need to keep the proper records to claim tax deductions come tax time. What do you need to do to maximise your tax deductions?
The end of financial year is fast approaching. It pays to be organised so you don’t have to face a mountain of paperwork at the last minute, but also because there are tax implications that can land you in hot water if they are not processed.
You want your business to grow and you know you need to hire an accountant to take things to the next level, but perhaps the cost of hiring someone has held you back from making that decision. However, it might be time to look at it another way – instead of the costs, hiring a good accountant might mean much more in savings than you might originally think.
There are a range of claims you can make come tax time in Australia, but a lot of them are a mix of personal and work-related expenses. The ATO only allows you to claim work related expenses, but how do you work them out?