Maximising The Financial Year End
About this episode
This episode discusses strategies for Australian small business owners to maximize their tax position and improve business performance before the financial year end.
Join the waitlist for The Australian Small Business Show Club by clicking here. If you've ever wondered how to maximise your tax position before 30 June and set your business up for a stronger financial year ahead, this episode is for you. Hello and welcome to this week's episode of The Australian Small Business Show. As the end of financial year approaches, many Australian small business owners focus on compliance tasks and tax returns, but there is also an opportunity to take a strategic approach to improving business performance. In this episode, we discuss the practical steps business owners can take before 30 June to ensure they are making informed financial decisions and preparing for a successful year ahead. We explore a range of end-of-financial-year strategies including reconciling accounts, understanding your profit position, reviewing business structures, making concessional superannuation contributions, identifying bad debts, prepaying eligible expenses, and improving debtor collections. We also discuss the importance of working closely with your accountant to understand the most appropriate tax planning opportunities for your specific circumstances. If you've been…
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