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!

1. Concessional superannuation contributions.
2. Computers, tools, equipment and other assets.
3. Phone and internet.
4. Self-education expenses.            
5. Union fees, licences, registrations and subscriptions.
6. Pay the last quarter's super by June 30th.
7. Home office occupancy expenses.
8. Instant asset write-off.
9. Overnight travel expenses.
10. Compulsory work uniform.
11. Home office fixed rate method.
12. Motor vehicle expenses: cents per km method.
13. Prepayment deductions.
14. Salary packaging private motor vehicles.
15. Income protection insurance.
16. Handbags, briefcases and satchels.
17. 5-year catch-up super contributions.
18. Managing tax affairs.
19. Sunglasses, sunscreens and cosmetics.
20. Employee meal expenses on business premises.

Our tax planning database is updated 52 times per year, not just on June 30^th!