Disclosure Statement: Durand Financial Services Pty Ltd and its advisers are authorised representatives of Fortnum Private Wealth Ltd ABN 54 139 889 535 AFSL 357306. General Advice Warning: The information contained within this website does not consider your personal circumstances and is of a general nature only. You should not act on it without first obtaining professional financial advice specific to your circumstances.
8 July 2021
When doing your tax this year, take the opportunity to check:
- for missed GST credits from purchases you claimed an income tax deduction for – a four-year time limit applies for claiming GST credits
- that you’re using the most suitable accounting method to meet your business needs
- if GST applies to any transactions from fundraising you helped with this year
- that stimulus vouchers have been accounted for correctly, where you participated in a government stimulus voucher program.
It’s important to lodge all outstanding activity statements before you lodge your tax return, so your tax assessment includes the instalments you’ve paid throughout the year.
Remember, registered tax agents and BAS agents can help you with tax.