stock inventory

Tax concessions and funding

Take all the tax advantages you can For small business, in particular, there is a range of concessions and funding you can access. Many businesses simply don’t realise the opportunities available to them. A simple example is trading stock valuations Your trading stock is an asset that is recorded on your balance sheet. In most…

stock inventory

Stress-free stocktake

10 commandments of a stress-free stocktake If your business produces or purchases stock for the market, you’ll likely need to do at least one stocktake at the end of the financial year for tax reasons. You should do your stocktake as close to the end of the financial year as practical. If you choose not to stocktake,…

17 commonly overlooked ATO tax deductions

To keep a healthy bottom line, businesses need to be smarter and sharper every financial year. It’s a good time to discuss ATO tax deductions – especially those deductions often missed. 1. Prepay expenses With tax deductions, every little bit counts. Prepaying your expenses can attract a tax deduction that is commonly overlooked. You can…