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 $20,000 for small 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.

Make sure you can substantiate ALL of your tax deduction claims.

Please contact me if you need assistance.