Your June 30 tax checklist

There's a little over a month left until the end of the 2011/12 financial year, so here's a list of things to consider before seeing your accountant.

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With just over a month left until the end of the 2011-12 financial year – 30 business days to be precise – time is very quickly running out for small business owners needing to get their affairs in order before June 30.

A good starting point, if you haven’t done so already, is to make an appointment with your accountant for as soon as possible. That’s because your accountant should be able to advise you of steps you can take before the end of the financial year to legally minimise the amount of business and personal tax you will need to pay to the Australian Tax Office.

As a small business owner, it almost goes without saying that getting your financial house in order before June 30 is imperative. Here’s a few of the things you should either already have done, or have in train.

This is an excerpt from Business Spectator’s new short course on tax strategies. Click here to read the rest of the tax checklist, plus the remaining 9 articles in the course.

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