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superannuation self managed superannuation funds

Since 1 July 2016, advice about superannuation must be provided through an Australian Financial Services Licence.

In order to provide personal advice to our clients in relation to superannuation and self managed superannuation funds, SullivanRees has chosen to be authorised through the SMSF Advisers Network Pty Ltd (SAN) – the Australian Financial Services Licence of the National Tax and Accountants’ Association Ltd (NTAA).

SAN supports our practice in providing advice regarding:

The person at this practice authorised by SAN to provide superannuation and self-managed superannuation fund advice is:

Scott O’Neill – Authorised Representative No. 126 9672

If you have any questions in relation to your superannuation, please ask to make an appointment to speak with us.

Click here to view our Financial Services Guide

SMSF

The SMSF Advisers Network Pty Ltd is an Australian Financial Services Licensee (No.430062), and is a fully owned subsidiary of the NTAA.

SullivanRees (ABN 75 097 928 190) is a corporate Representative No. 126 9672 of SMSF Advisers Network Pty Ltd ABN 64 155 907 681 AFSL No. 430062


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Meeting Your Business’s Tax Obligations At The EOFY

Posted on June 10, 2024 by admin

As the End of the Financial Year (EOFY) approaches in Australia, businesses must gear up to meet their tax obligations efficiently and accurately.

This period can be hectic, but with careful preparation, you can ensure compliance with Australian Taxation Office (ATO) requirements and optimise your financial outcomes.

Here’s a comprehensive checklist to help your business prepare for EOFY tax obligations, including lodging Business Activity Statements (BAS), reconciling accounts, and more.

1. Review and Reconcile Accounts

Task: Reconcile Bank Statements
Task: Review Accounts Receivable and Payable

2. Update Financial Records

Task: Inventory Stocktake
Task: Fixed Assets Review

3. BAS and GST Lodgement

Task: Prepare and Lodge BAS

4. Payroll and Superannuation Compliance

Task: Finalise Payroll
Task: Superannuation Contributions

5. Review and Claim Deductions

Task: Identify Deductible Expenses
Task: Claim Depreciation

6. Financial Statements Preparation

Task: Prepare Financial Statements

7. Plan for the New Financial Year

Task: Budget and Forecasting
Task: Review Business Structure

8. Ensure Compliance with ATO Requirements

Task: Review Tax Compliance
Task: Lodge Tax Return

Preparing for EOFY tax obligations can be a complex process, but with a systematic approach and detailed checklist, you can ensure compliance and optimise your financial outcomes.

Regularly reviewing and updating your financial records, reconciling accounts, lodging BAS statements on time, and claiming all eligible deductions are crucial steps.

Additionally, planning for the new financial year and consulting with a tax professional can help you navigate the complexities of tax compliance and make informed financial decisions.

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