Top 20 tax planning strategies for the 22/23 financial year!
Here are the top 20 tax planning strategies used by our TaxFitness subscribing accounting practices for the 22/23 financial year!
- Concessional superannuation contributions.
- Computers, tools, equipment and other assets.
- Phone and internet.
- Self-education expenses.
- Union fees, licences, registrations and subscriptions.
- Pay the last quarter's super by June 30th.
- Home office occupancy expenses.
- Instant asset write-off.
- Overnight travel expenses.
- Compulsory work uniform.
- Home office fixed rate method.
- Motor vehicle expenses: cents per km method.
- Prepayment deductions.
- Salary packaging private motor vehicles.
- Income protection insurance.
- Handbags, briefcases and satchels.
- 5-year catch-up super contributions.
- Managing tax affairs.
- Sunglasses, sunscreens and cosmetics.
- Employee meal expenses on business premises.
Our tax planning database is updated 52 times per year, not just on June 30th!
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"You’d be stupid not to try to cut your tax bill and those that don’t are stupid in business"
- Bono: U2