The end of financial year is nigh! The day that is exciting and scary all at once. I have had 2 clients say to me this week “EOFY; it is like accountant’s Christmas, isn’t it?”. No way! Only if you spend all Christmas working like a trojan. Personally, I prefer Christmas at the beach hanging out with my family and eating mince pies. But EOFY is a time to clear the decks and start afresh.
This is also the time of year when all the armchair experts come out of the woodwork and tell their friends at the pub what to include in their tax return. Here at Appy Books, we don’t provide taxation services. But that doesn’t mean we don’t laugh when we hear the funny stories of things people try to claim as a deduction. Some of my favourites are in the articles below. Just as well I can’t claim Tim Tams as a deduction or there would be a worldwide shortage.
The best advice I have received for starting off the new financial year with a bang is to go back to basics. Think about why you started your business and focus on that. Set yourself a budget and measure your progress regularly. And focus on the stuff you love. If you can achieve all three, you’ll have a successful year.
Happy EOFY!
If I've said it once, I've said it a thousand times. Where's the tax invoice?
