Year-end Tax Planning
Year-end Tax Planning to help manage your cash flow during COVID-19
This year it’s more important than ever to undertake tax planning. The benefits of undertaking a review of your tax position before 30 June include
- Manage cash flow so that you can keep as much cash in the business in these uncertain times
- Understand what tax will be payable and when
- That way you can plan your cash flow, with good knowledge of expected cash outflows
- Together with including government incentives including cash flow boost and JobKeeper, you will have the basis for planning your Business Continuity.
No matter how your business is impacted it is important to take time prior to 30th June for tax planning to preserve your cash flow. Either undertaking tax minimisation strategy and / or reviewing your tax obligations (PAYG Tax) with a view to vary your tax payments if required.
Here at NCA, we will be assisting clients with their year-end tax planning, attending to any PAYG Tax variations for the June 2020 quarter and ensuring they have a clear understanding of their tax commitments over the next year.
If you require assistance to minimise or vary your tax or to provide clarity of your tax payment timeline then please contact your relationship manager at NCA. Or contact us here.