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3 Ways to Maximise Tax Deductions Before EOFY

Friday, May 20, 2016

There’s just over a month left before the end of financial year and if your business’ cash flow is good, then it’s the ideal time to spend on any extra expenses.

By doing so, you’ll benefit from maximising the tax deductions at your disposal within the 2015/16 financial year.

  1. Get your business vehicles serviced… and replace the tyres while you’re at it.
  2. Pay for all your business membership fees, subscribe to professional development initiatives and renew subscriptions to professional publications.
  3. Pre-pay costs associated with running and occupying a workspace i.e. rent, electricity and utilities.
  4. So there you go: three perfectly legitimate tax deductions you can take advantage of before the end of June.

Unsure what you can and can’t claim? Feel free to get in touch with any questions.

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