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Tax, Tactics and Trials – the trilogy of things to do before 30 June

Do you leave things, especially tedious administrative or financial tasks, until the last minute? Will you get to the 30th of June and suddenly realise that it’s the last day to call your accountant or do whatever you need to for that tax deduction or benefit?

With the end of the financial year fast approaching you’ll see marketing campaigns and promotions for products and services urge you to do or buy – before it’s too late!

So perhaps this is the year (like you promise every year!)  you’ll make an earlier start on:

Tax and tactics

Decide what you need to do and get started on things such as:

  • pay some money into your superannuation
  • prepay some interest
  • pay those tax deductible accounts
  • ask your employer to apply ATO reductions to employer tax payments,  for any of your investment property cash shortfalls
  • book a quantity surveyor to prepare a depreciation schedule
  • sell that asset (eg property so you don’t have a land tax liability next year, or for capital gains or other tax considerations)
  • buy that asset
  • make that appointment with your book keeper, accountant, or financial adviser; or just
  • get a start on your paperwork

The ATO has a lot of helpful information.

This article by Anthony Keane Deduction Action with contributors – Peter Koulizos, Terri Scheer Insurance, and EPS Property Search – also has some useful tips for property investors.

Trials

It’s also a great time of year time to buy, resubscribe to, or trial some of the many investing memberships and subscriptions. Especially because many offer free trials that include a lot of useful end of financial year strategies, tips and check lists.

Even if it’s not a financial publication or subscription you’re after; now’s the time to take a look at anything that you might be able to claim as a business expense or self education.

Some we’ve found and that you might like to try are:

Eureka Report 21 day free trial

Intelligent Investor – Share advisor Savings including free products: 5 small stocks; starter portfolio; stocks to profit from a lower dollar; Top stock picks

Switzer Super Report 21 day free trial

You’ll find more in our BiG Books …

Wishing you a happy end of financial year!

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