Many of our business clients like to review their tax position at the end of the income year and evaluate any year-end strategies that may be available to legitimately reduce their tax. Traditionally, year-end tax planning for small businesses is based around two simple concepts: accelerating business deductions and deferring income.
Small Business Entities (SBEs) have greater access to year-end tax planning due to particular concessions that only apply to them. Taxpayers that qualify as an SBE can generally choose which of the concessions they wish to use each year. The basic requirement to be eligible for most of the SBE concessions for the year ending 30 June 2018 is that the business taxpayer’s annual turnover (including related entities) is less than $10 million.
Related articles
Happy New Year to all our clients. We hope you had a restful and relaxing Christmas [...]
Challenging harvest Harvest has been a start/stop affair this year. We hope that you have been able to [...]
FUNDING FOCUSDon't despair, funding help is available and we are here to discuss what you need.There [...]
The general rule for having up to six members of a SMSF is that those who [...]
Super Guarantee reminder A reminder that Super Guarantee Payments are due on July 28. However, all [...]
TAX TALK We hope you are not too cold and getting some of the rain at [...]
Our new staff member Jennifer Lambell Welcome Jennifer! We are pleased to welcome a new staff member this week, [...]
Super guarantee deadline The next deadline for Super Guarantee payments is April 28. So that means [...]
Explore Peacocke Services
