The Best Business TAX Tips

• Pay Superannuation Guarantee Payments early (before June 30)

• For Trusts: distribute funds to eligible recipients who are taxed less

• For Companies: as above

• Review your business structure

• Review “immediate write off” items-up to $150,000 for small and medium sized businesses

• Write off unrecoverable bad debts

• Stock: Stocktake and write off any lost, damaged or obsolete stock

• Stationery: Stock up and pay for it before June 30.

• Review: Insurances and pre-pay before June 30

• Superannuation: consider personal contributions, salary sacrifice arrangements, spouse contributions.