With the end of the financial year only a few days away, you still have time to take action to legally reduce your small business tax liability for 2017.
It’s easy to get caught up in the spending trap and feel the pressure to get on the spending bandwagon. A budget enables you to think and consider carefully before committing to expenditure.
The last financial year has witnessed a record number of tax audits. and with the ATO actively stepping up its inspection of business transactions across the board, utmost vigilance must be exercised at all times with the recording of your business transactions. In order to help you avoid such a stressful, time-consuming and costly tax audit, we’ve put together a list of some triggers you should be aware of.