How business owners can have a relaxing financial year-end on 31st March 2019
1. Book 31st March 2019 for Stock Take. if your stock value is less than $10000 & turnover less than $1.3 m, You may leave stocktake.
2. Save up for Taxes (should have done earlier) ! & Save for Provisional Taxes
3. Make Charitable donation now for tax credits in March 2019
4. List out Bad Debts
5. Payout Staff Leave (subject to law)
6. Expenses: You can prepay lost of expenses like postage, stationary, Insurance, Rent
7. List out assets you have bought out of business account like laptop mobile etc
8. Spend funds repair or general expenses under $500
9. Submit your log books (if not done in last 3 years) We can claim GST & Expenses on business use of private motor vehicle.
10. is your business cash flow ready for minimum wage increase to $17.70 / hour