This tax time, beware of scammers when it comes to dealing with the Australian Tax Office. As it is such a busy time of year, people should be wary of any emails, phone calls or SMS they receive that claim to be from the ATO even if it seems legitimate. If you’re unsure about something, call the ATO on 1800 008 540. If it’s a genuine enquiry, you will be connected with the correct department. Be aware of what you share, stay secure, don’t reply to unsolicited messages and report any scams. If you need help with your tax return, give us a call. We are more than happy to take the headache out of tax time for you.
Time for an end of year review
In order to facilitate this process, we will need:
- Accurate livestock numbers gauged through Phoenix
- Projected income and expenses
- Contract details of plant or equipment purchases made under chattel mortgage/lease or hire purchase
- Ensure that details of equipment purchases are entered in Phoenix, enabling updates to your depreciation schedule with the correct rate
- Details of any other impacting event such as disposal of personal shares
Don’t let the thought of the End of Financial Year keep you grounded. Xero has a range of resources to help you fly through those tedious tasks. Check out the various webinars, blogs and articles which will help you soar through your chores.
Repaint your goals
If your business is in need of a makeover, then look no further than Peacocke Accountants. We have 50 years’ experience helping businesses start, grow, expand and excel. Our knowledge spans across many different businesses – from start-up sole traders and partnerships to listed companies. We can assist with setting up a family trust, a new business structure, succession planning through all phases of growth, consolidation and excellence. We will be by your side, giving you advice and strategic input so that you can create the best business structure for your ongoing needs.