Tax
Planning
Last updated June 2011 Some tax planning issues that can be addressed prior to the end of the financial year include:
- Recognition of Incurred/Accrued Expenditure
- Write Off of Bad Debts (review debtors at year end, to determine recoverability)
- Prepayments (NB: Rules apply to restrict deductibility in some instances)
- Capital Asset Sales (review of potential to incur capital losses prior to year end, to offset capital gains derived during the financial year)
- Superannuation Contributions (refer earlier section)
- Salary Packaging (NB: Salary Sacrifice arrangements must be effected prior to revising employee/director remuneration)
- Trading Stock revaluation
If you require further clarification as to the tax implications of your activities for the year, we suggest that you contact our office.
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