Top tips to get you through tax-time

Top tips to get you through tax-time

Tax time is a busy, stressful time of year for business owners. You’re busy with the day-to-day demands of operating your business and then have to add the additional challenge of preparing for the end-of-financial year.

During this labour-intensive time, it’s important to take care of yourself and prioritise the well-being of your staff members. Below we have some top tips to help you do that:

  • Keep good business records: Take the time to prepare for the end of the financial year to ensure you have the correct information to meet your tax obligations, so you can better assess your business position. 
  • Use digital tools: Digital tools are a great way to streamline your business so that you can focus on the bigger picture and increase cash flow.
  • Talk to someone you trust: It is important to have someone you can talk to about your business successes and worries. Your trusted tax professional is an excellent source of support that can be a listening ear and guide you on the right path. 
  • Utilise free mental health coaching: Recently, beyond blue developed NewAccess for business owners. NewAccess is run by coaches with a business background and consists of 6 tailored and practical sessions, including a follow-up to ensure you’re staying on track.
  • Maintain a healthy lifestyle: While it can be easier said than done, try to eat healthily, including at least 30 minutes of exercise in your day and get quality sleep. 

If you’re looking for support during one of the busiest times of the year, Get in touch

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