EOFY Checklist: Two weeks to go!

With only two weeks until the 31 March deadline, there are a few tactical moves we can make to optimise your tax position.

Prepayments: If you have the cash flow, consider prepaying some expenses (like insurance, rent, or professional subscriptions) before 31 March.

Employee Bonuses: If you are planning to pay staff bonuses, ensure these are 'committed' to before 31 March to claim the deduction this year.

Stocktake: If you hold inventory, remember to schedule a stocktake for the close of business on the 31st.

If you’d like to discuss whether a specific prepayment makes sense for your business, feel free to reach out.