The financial year in Australia end on the 30th June. So this week I've been busy buying a few things I need for my business and paying up any business expenses I can so they are included in this financial year. I'm trying to reduce my tax bill as much as possible.
I've also paid for a conference later in the year which will be our (tax deductible) holiday. It's the first real holiday for three years so I'm really looking forward to it! We will be traveling to the Northern Territory for the first time.
Small businesses are eligible for some very generous tax breaks this year of up to 50% deduction on eligible assets. I am able to claim my laptop and I'm going to talk to the accountant to see if I qualify to purchase a car using this tax break. If I do I'll go ahead and purchase one before the end of 2009.
I've rearranged my hours to work four days a week but doing a shorter day. I closed up my second office yesterday and the good thing all but two of my clients there are quite happy to travel to my main office and be a bit flexible with deadlines etc until I get caught up on the backlog of work.
Overall I'm feeling much more optimistic than I was a few weeks ago :)
2 comments:
Glad you are going well.
I work in tax and I really feel sorry for small businesses - tax never gets any simpler!
YAY! I'm glad things are starting to get back on track for you..
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