More than 2 million businesses are actively trading in Australia and with only a week before the end of financial year, now is certainly a good opportunity for business owners to look at taking some simple steps to reduce their tax bill. While tax planning is sometimes left to the last minute for businesses, there are some smart ways to minimise tax, particularly if you are wanting to bring forward your tax deductions due to the level of income you have received. Remember you only get the benefit of a tax deduction if you have are a taxpayer so ensure you do your figures so you are getting the most benefit before the end of financial year.Consider these 10...
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