Welcome to our May monthly newsletter!
We are now nearing the end of the financial year with tax time approaching. Now is the time to make an assessment of your profits and apply any tax saving strategies that you can! We are now taking tax planning appointments and are happy to provide anything from a simple chat about your potential taxes to a full tax planning service which includes a detailed estimate of taxable income, income tax payable and a tax savings report which explains which strategies can be applied to reduce income tax this year and potentially in future years. If you are unsure if this service would be beneficial or would like to know more then please contact our office for more information.
- The debt was included as taxable income in a current or previous income year (e.g. a business using the accruals method of accounting for income tax purposes)
- The debt must be considered non-recoverable (this means that it is extremely likely that it will not be paid not just currently but also at any time in the future)
- Lodge 2020 income tax return for all entities
- Pay 2020 income tax for companies and superannuation funds
- Lodge and pay April 2021 monthly business/instalment activity statement
- Lodge and pay quarter ending 31 March 2021 business/instalment activity statement
- Lodge and pay quarter ending 31 March 2021 superannuation guarantee charge statement if contributions were not paid on time*
*Super guarantee charge is not deductible.