TAX TIPS....

ARE YOU TIME POOR?

• talk to your tax professional or come to us if you're unsure of something or considering making changes to your business.

• Check your business structure

• Unnecessarily complex business structures can overcomplicate tax obligations. Talk to your tax agent to ensure your business structure suits the needs of your business. Keep good records Keeping good records is essential and will make it easier to report

• Talk to your software provider or tax professional to check that your record keeping processes meet current requirements.

• Make sure you conduct regular reconciliation processes by crosschecking figures with your bank statements and source documents (for example, till tapes, tax invoices and receipts).

• Use suitable digital systems to run your business, such as point of sale software, accounting systems and mobile apps. These products can save you time and help you report accurately.

Get your income and expenses right

Ensure what you report is accurate:

• Report all your business income, even if it has been paid in cash, or into a private account. The ATO use data matching and benchmarking to help identify hidden activities.

• The figures you report need to be exact – so keep up to date records from the start and don't try and 'guestimate' after the event.

• Make sure your deductions relate to your business, and that you have the required evidence to support your claims.

Life gets busy! If this is you and you struggle to find time to come see us to get your tax done, we have many options to help.

Please phone, email or text and we can go from there, no need to come in. We will contact you to check your claims and maximise your refund, this ensures you still get a personalised service.

If these options don’t suit you, please book an appointment, we would love to see you.

You can rely on us to make your tax obligations easy and less painful.

We are here to help with all your personal and business tax, accounting and bookkeeping.

There has been a deception of words and actions behind the words manufacturers and companies use to label many of their products, such as grass-fed, organic, and free-range. You probably see these words in many different products, including meat, eggs, dairy products, fresh fruits, and vegetables. Keep in mind that we are what we eat. The following is a breakdown of these healthy words that make you confident as you shop for whatever type of eating pattern you believe.

What are the falsehoods behind these healthy words?

Free-Range Products

One example is meat. A dye is put into many types of beef because consumers would not buy beef if it were grey which is the natural colour of meat. Meat is not naturally red. The myth is the pinker the meat, the better, and the healthier the meat. Placing grey beef on the shelf without the red dye would not sell to consumers. Consumers are used to seeing this red or pink colour in beef.