Pile of receipts

4 Tips for managing the EOFY scramble

Yes, it’s that time of year again, when businesses start scrambling to prepare their tax returns. Here are 4 tips to make the process as stress-free and streamlined as possible.

  1. Start getting your records organised now. Whether you have paper files or computer records, now is the time to get everything together in one place for easy access, including:
    • Business income information
    • Expenses you can claim as business deductions, such as wages, business travel and other operating expenses.
  2. Make sure you can prove to the ATO how your expenses are divided between business and private use.
  3. If you’ve installed any new record-keeping software this financial year, check all the information has transferred correctly between programs. Or you can ask us to help you.
  4. Book an appointment with us so we can help you with end-of-year tax planning and other financial strategies.

Staying on top of your ATO requirements can be tricky without our help. So don’t delay.

 

Contact the SVA and WPA team for
straight-forward, practical accounting, taxation and financial advice.

Call 02 8850 0388 today.

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