How to make tax time easier by Melbourne small business accountant
Tax time may still be a few months away and it may be the last thing on your mind right now. However, there is no harm to start preparing yourself and your small business in the approaching months. The small business accounting in Melbourne have a few tips that could make tax time easier for you.
Did you know that you can claim tax deduction for anything that is less than $300 without providing any receipt? Although please note that this would only apply if your total claim is less than $300. If your total claim is still more than $300, you will have to provide receipts for all your claims.
Have you been quite charitable in the past year? Make sure to claim all the gifts that you have bestowed upon charities in the past year. Although not all charity gifts are tax deductible, you can check on the ATO website about what is tax deductible and what is not. Charitable gifts are great because while you can be good to the communities around you and help them out, they could also reduce the taxes that you have to pay.
This are just some simple tips on tax time from us the Melbourne small business accountants in Melbourne. Should you need any help with you small business accounting in Melbourne, call us now!