"It's tax time - again! Find out how you can legally minimise your taxation obligations"

We are recommending to all our clients that they plan for their tax liabilities and consider appropriate tax deductions prior to the end of the financial year. Some suggested deductions include:

- Increased superannuation payments for the principals and directors; however, this is subject to the maximum contribution ($100,000 per individual) and also depends on your cash flow requirements.

- Making the necessary superannuation payments for all staff.

- Purchasing additional work related equipment, supplies and stationery.

- Making donations to registered charities.

- Bringing forward spending on repairs and maintenance.

- Writing-off bad debts provided you can prove that you have taken reasonable steps to collect them.

 

Please note - this information does not warrant advice and all taxation strategies should be discussed fully with your taxation accountant.

 

To find out how you can legally minimise your taxation obligations - click here to learn about our business health assessment or click here to find out about business coaching.