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End of Year Checklists
MLCo • Jun 07, 2021
30 June 2021 End of Year Checklists
Covered in our end of year checklist are strategies to maximise your deductions and related information required to substantiate your deductions.
Common claims made by Individuals:
- Depreciating assets costing $300 or less including:
- Clothing expenses
- Self-education expenses
- Other work-related expenses
Maximising deductions for Businesses
- Prepayment strategies (non-SBEs)
- Accrued expenditure (for all business taxpayers - including SBE taxpayers)
- Accelerating depreciation expenditure (for SBE taxpayers)
- Prepayment strategies – SBE
If you have any queries in relation to your end of year tax planning, please do not hesitate to contact us .
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