Every single end of financial year sees office workers pinged for claiming expenses they’re probably not entitled to. So how do you avoid the ATO net closing in?
How to take stock – and conduct a stocktake – before 30 June.
Normally we do a spring clean, but with business, we need to do a financial year clean.
In the final two weeks before tax time, there’s a growing list of things any business owner should be doing to prepare. Here are the priorities.
End of Financial Year (EOFY) should be an exciting time to reflect on your business performance, assess your growth and to plan for the next year ahead.
Review your expense accounts three weeks prior to submitting your tax to ensure your Profit and Loss statement is accurate in a timely fashion.
The great thing about the end of financial year is that you get to start over – so even if this year wasn’t the best you have a chance of re-invention.
Welcome to the fourth week before tax is due. Now is the time to review your income accounts, refund expenses and check for any deposit errors.
Tradies would know that for most jobs, being prepared and having the right tools for the job at hand is vital. EOFY is no different.