Five mistakes to avoid for this End of Tax Year
The lead-up to the end of the financial year can feel like a whirlwind, but by avoiding these common hurdles, you can keep your tax season on track and make it your smoothest yet. Mistake #1 – Neglecting your home office details If you’re claiming home office expenses, accuracy is key. You might have started […]
Consider asset write-offs and sales
Review fixed assets and identify any that can be written off. Assets purchased on or after 17 March 2021 and below the value of $1,000 can be written off immediately (in most cases). Make sure assets purchased or sold as part of a sale/purchase agreement align with the purchase price allocation in the relevant agreement. […]
