TAX TIPS

TAX TIPS

The best time to replace a vehicle, is when it is costing money on repairs. It is then too unreliable and will be costing you time and money.

For businesses, the best time to have the financials reviewed is the beginning of April. The nine months activity can be assessed and the final three months forecast, then recommendations can be made for action pre-30th June.

If operating through a company structure, aim for a profit. Otherwise, tax incentives will not be effectively applied. The profits create Dividends and Franking Credits, so they are not lost.

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