End of Financial Year Tax Planning – what you need to know

Well it’s fast approaching that time of the year again!

End of financial year.

While there are some businesses who are on top of their books and paperwork – ready for year end – the majority though will not be ready.

Typically, we see a mad rush to locate expense receipts, access bank statements, super contribution records, payroll sheets, insurance certificates etc.

And in fairness, it can be an overwhelming time of the year – after all – no one wants to get on the wrong side of the ATO!

However, with a little planning, forward thinking and prisonisation, it need not be a frustrating time that always seems to chew into late nights and family time.

Here’s what you need to know and do for financial year end planning.