June 1, 2020
Our quarterly newsletter with content on hot topics for small business owners including the latest marketing techniques and business automation tools, tax planning ideas, the latest apps for business and wealth creation ideas.
This edition features stories on:
Post-Pandemic – Survival then Revival
Build a cash flow forecast to identify the timing of potential cash shortages, prepare interim financial statements to help make informed business decisions, renegotiate to reduce overheads, review profit & loss and remove non-essential expenses, prepare for the post-pandemic period and put in place a marketing strategy.
Year End Tax Planning & key Tax Minimisation Strategies
Pivot, Adapt, Survive and even Thrive
Pivoting is something business owners normally do when they sense the business needs a change of direction. Could your business benefit from pivoting in the current environment?
Working remotely? The ins and outs of claiming home office expenses
If you are working from home, you may be able to claim a deduction for some of the expenses for your ‘office’ area. There are two parts to this, those employees working from home and businesses where their principal place of business is their home – effectively running their business from home.
Temporary Early access to Superannuation
For those individuals facing significant financial adversity due to the Coronavirus, the Government is allowing them to access $10,000 of their Superannuation before June 30, 2020 and a further $10,000 from July 1, 2020 and September 24, 2020. Amounts withdrawn do not need to be included in tax returns.
2020 Tax Return checklistsTags: Accounting, Accounting & Tax, business, Small Business