• Home
  • Articles
    • Front Page
    • General Interest
    • Snippets
    • Mayoral Notes
    • Letters to the Editor
  • Competitions
  • Our Community
    • Our People
    • Question of the Week
    • Jobs in the Central West
    • Be Seen
  • Features
    • Rural Round Up
    • My Place
    • Health & Wellbeing
    • Loving Local Living
    • Just a Short Drive
    • Real Estate
  • Sports
    • Bowls
    • Cricket
    • Equestrian
    • Footy Tips
    • Golf
    • Netball
    • Rugby League
    • Rugby Union
    • Soccer
    • Touch Football
  • Contact Us
    • Contact Page
    • Advertise with us
    • Testimonials
    • Submit an Article
    • Subscribe to the Parkes Phoenix

Parkes Phoenix

June 30 Means Tax Time

June 26, 2020 By editor

A lot of individuals become uncertain with what they can and can’t claim at tax time, and this year will be very different given the COVID-19 pandemic.

It can often be a very time consuming and frustrating time, so you can always reach out and ask the professionals such as Peter Woods and Associates, David Bicket, Ward and Associates or MD Trimmer right here in Parkes for advice.

Tax planning should be customised to individual needs, and should be undertaken with the assistance of an expert. When planning now you should certainly consider strategies available specifically for Small Business Entities, such as the immediate write off deductions for capital items, and bringing forward expenses into the 2020/2021 financial year. Other tools to discuss with your accountant or advisor include the use of Superannuation Contributions as a deduction or Farm Management Deposits as a strategy.

This time of year is also ideal for planning and forecasting for the new financial year. Professionals can refine the process of identifying both the goals and the concerns of clients, and work with them to map a plan for the coming years. This includes a cash flow forecast and projected Profit and Loss, and is ideally revisited regularly through the new financial year. Planning and measuring performance are essential for reaching your personal and business goals.

The sooner you get in touch with the experts, the sooner you can lighten your load.

Filed Under: Articles, General Interest

Latest Print Editions

Click here to download the recent issue (249) of The Parkes Phoenix (1.6MB PDF) – 5th March 2020

STAY CONNECTED

The Parkes Phoenix would like to thank you, our Facebook friends, for your continued support and readership!

CENTRAL WEST RURAL ROUND UP BOOKLET

Click here to download the Rural Round Up Booklet 

SEARCH THE PHOENIX

Recent Articles

  • Memories From Margaret March 5, 2021
  • New CUC Students Meet NSW Governor March 5, 2021
  • Be Seen @ The 2021 Flock Ewe Competition March 5, 2021
  • CanAssist Garage Sales Tick So Many Boxes March 5, 2021
  • Plenty Of Places For Parkes Swimmers March 5, 2021

CONTACT THE PHOENIX

Head Office Phone: (02) 6344 1846

Postal Address PO Box 203 Canowindra NSW 2804  

Editorial – Maggi Barnard Phone 0403 080 085 editor@parkesphoenix.com.au

Sales – Rochelle Frame Phone 0490 517 590 sales@parkesphoenix.com.au  

View our Privacy Policy.

View our Conflict Resolution Process.

View our Ethics and Complaints Policy.

Want to advertise with us?

Information on our Community Promotions.

Submit an Article

We are always looking for new articles of interest to the local community.

Please feel free to submit an article for possible inclusion in a future issue.

To submit an article, click here to use our online article submission form.

Receive The Phoenix via Email

* indicates required

Copyright © 2021 · Website setup by WebSysMan