Year end tax planning strategies
Do you know what your expected tax bill will be this Financial Year?
Consider the following Tax Planning strategies before 30 June 2020.
- Writing off Bad debts before 30 June
- Adjusting for income in advance
- Accruing Directors fees/wages before 30 June
- Paying super pre 30 June/topping up super
- Bringing forward or prepaying expenses such as rent, interest before 30 June
- Taking advantage of $150k instant asset write off or writing off SBE Pool Value less than $150k
- Dividends to repay directors loans
- Repayment of shareholder loans before 30 June
- Review and write off obsolete stock/adjust values/valuation method
- Reviewing any unrealised capital losses to offset potential capital gains
To book a review of your business, contact us for a Tax Planning appointment.