New Years’ Eve already, hey? I don’t know about you but I can’t believe just how quickly it’s gone. And, with just a few hours left until the end of this financial year, now is the perfect time to start your tax planning.
For 2010/11, of course.
Scrambling around for extra receipts and going nuts at Officeworks at this time every year is all well and good, but the best strategies for paying less tax will always require a little more foresight and planning. Over the coming weeks, we’ll be outlining some of those in a little more detail for you, so do stay tuned. In the meantime, if you really want to avoid handing too much of your hard-earned over to the tax office, you really should consider working on that before next June rolls around.
Review your structures, and your loan setups. Know where your spending is orientated and think about *how* more of that might be deductible. Organise your record-keeping systems so that you can see what’s going on as it happens. Your investing is meant to be like a business, right? So, you should treat it like one and that includes ongoing reviews of your cashflow, your net assets, and your tax position.
And, of course, don’t ever be afraid to shout if you want to talk to us about various tax planning strategies. That’s what we’re here for!!