Things to Consider Pre and Post June 30th:
- Perform stocktake & adjust stock if necessary Review Aged Receivables to write off any bad debts
- Do you want to pay employees’ super before 30 June to get the tax deduction in this year?
- Do you want to purchase assets before 30 June for a tax deduction?
- Any additional expenses to bring tax deduction into this year
- Or make payments to claim GST in this year
- Consider speaking with your accountant re. wages & super to be paid.
Payroll
- Ensure set up for Super Stream & STP
- Get FBT information for payment summaries if necessary.
Talk to your accountant
- What is the maximum superannuation you may like to pay for yourself?
- What is the recommended wage you may like to declare for yourself?
- Possible prepayments you may like to pay to maximise deductions in this financial year.
If you considered getting a bookkeeper for this financial year and it didn’t happen, then perhaps add ‘Phone Amanda at Complete Bookkeeping Concepts’ to your list!
Amanda Findlay is a certified bookkeeper with a brain for business strategy. Get in touch today to discuss how Complete Bookkeeping Concepts can help you improve your business’ visibility.