Cameron Nicholls’ EOFY Tips
Announcement posted by 360PR 04 Jun 2018
With EOFY right around the corner many businesses are starting to think about the best way to get started on their yearly taxes. It is important for both your business and personal life to be prepared. With the looming date of June 30 not far away, planning ahead of time will allow you to enter the new finical year organised and stress free.
Principal of Nicholls & Co Estate Agents, Cameron Nicholls states, “As a landlord, business owner, you name it… By preparing yourself early this EOFY, you will take the stress out of tax time. With the added pressure that comes every year of tying up loose ends before lodging your taxes, anything you can do to reduce your work load will benefit both your business and personal return.”
This year Cameron shares his essential tips everyone should consider in order to prepare themselves this end of financial year:
Cameron brings to the table a wealth of local market knowledge and expertise. Defined by an unparalleled reputation for integrity, professionalism and transparency, Cameron launched Nicholls & Co Estate Agents in 2015. Nicholls & Co is a boutique modern agency focused on the person first and foremost and then the property.
To date, Cameron has sold over $100 million worth of property, leased over 500 properties and secured multiple record sales upwards of $3 million in the area. Cameron’s cutting-edge approach ensures he is at the forefront of the industry where he can continue to help clients reach their property goals.
www.nichollsandco.com.au
Principal of Nicholls & Co Estate Agents, Cameron Nicholls states, “As a landlord, business owner, you name it… By preparing yourself early this EOFY, you will take the stress out of tax time. With the added pressure that comes every year of tying up loose ends before lodging your taxes, anything you can do to reduce your work load will benefit both your business and personal return.”
This year Cameron shares his essential tips everyone should consider in order to prepare themselves this end of financial year:
- Gather all your documentation. The first step everyone should take to ensure they are prepared this EOFY is to gather all required documentation. If you have high volumes of documents required to lodge tax rebates, being organised is the quickest way to save time and stress.
- Do your homework. Know what you are entitled to and what you can claim. There are many things you can claim deductions on, don’t forget about motor vehicle expenses and other travel expenses. Be wary of tax fund scams and always review your finances.
- Consult your accountant. An experienced accountant can help you to organise your financial documents and advise you on the documentation you will need to lodge your taxes (there is only so much Google will tell you).
- Spend money to save money. If you have consulted with your accountant and found that you have the funds available investing back in, this will save you come tax time. By paying bills in advance (for example rent and utilities) and if you have a business, paying employees’ superannuation your company can receive large deductions come tax time.
- Manage your personal/business debts. To avoid an increase in personal income taxes, try to pay back any personal business loans you may have. Ensure you have a repayment plan set up with a set amount and be sure to stay on top of your repayments.
- Plan beyond EOFY. It will never be too early to get a start on preparation for the next tax season. By keeping an eye on your expenses all year round and filing relevant documents each month, next EOFY will feel like a walk in the park.
Cameron brings to the table a wealth of local market knowledge and expertise. Defined by an unparalleled reputation for integrity, professionalism and transparency, Cameron launched Nicholls & Co Estate Agents in 2015. Nicholls & Co is a boutique modern agency focused on the person first and foremost and then the property.
To date, Cameron has sold over $100 million worth of property, leased over 500 properties and secured multiple record sales upwards of $3 million in the area. Cameron’s cutting-edge approach ensures he is at the forefront of the industry where he can continue to help clients reach their property goals.
www.nichollsandco.com.au