Tax Tips for the End of the 2017 Financial Year
Here are our tax tips to maximise your taxation position for the year ending 30 June 2017:
Company Tax Rates
Small Business (those with an aggregated turnover under $10,000,000) will have a tax rate of 27.5% for the 2017 financial year and dividends will be franked at 27.5%.
End of Year Helpful Hints
Here is a non-exhaustive list of things to do as at 30 June 2017, although many of them could be automatic depending upon your software:
You are considered to be a business that is primarily in the building and construction industry if any of the following apply:
(a) In the current financial year, 50% or more of your business income is derived from providing building and construction services.
(b) In the current financial year, 50% or more of your business activity relates to building and construction services.
(c) In the financial year immediately before the current financial year, 50% or more of your business income was derived from providing building and construction services.
If you require more detail, please contact our office.
We hope you find this information useful. Please feel free to contact us should you have any queries. We are only too happy to help.Team EEA