The end of the financial year is fast approaching on 30 June. To get the best tax outcome for your business, you should look at a few things now:
– Instant Asset Write-Off: If you’re planning to purchase equipment, ensure it is “first used or installed ready for use” by 30 June to claim it this year.
– Super Contributions: Consider making personal super contributions before 30 June to reduce your taxable income.
– Stocktake: Plan your end-of-year stocktake for the close of business on 30 June.
Let’s book a quick chat to see which strategies will work best for you.
The team at EMspire Advisory are trusted, qualified Chartered Accountants, tax agents, and small business accountants. We work closely with our clients to achieve the best possible outcomes. To find out more, please contact us!
Please note that this information is not specific and is general in nature and cannot be relied on as advice. Please contact us for advice specific to you and your circumstances.