The time to prepare for the end of the financial year is BEFORE 30 June. Seems simple when you say it – but many businesses do find it challenging – which is why reaching out for help from professional advisers like your tax accountant can be important.
Reviewing your business performance and maximising your tax outcome for the year can go hand-in-hand – and will help ensure no nasty surprises emerge when your accountant finishes your yearly results.
With this in mind, we’ve put together a list of things to start thinking about and getting prepared to be on the front-foot for tax time 2020.
These are all general tips for you to think about – some specifically relate to your potential tax outcome and others are business operational matters that could be worth considering.