10 tips for business owners ahead of EOFY [Video]

The end of the financial year is fast approaching, which means it’s time for business owners to face the erroneous task of sorting through the previous year’s financials. However, tax time doesn’t have to be a source of pain for small businesses. As EOFY approaches, business owners have a golden opportunity to maximise their tax returns whilst ensuring they’re in compliance with tax regulations. With New Zealand officially slipping into its second recession recently, the EOFY is a good opportunity for businesses to buckle down and reset for the new financial year. Here are 10 essential tax tips to help you.

Get organised and utilise technology

Good record-keeping is essential for effective tax planning, but with today’s technology a lot of your record keeping can (or should) be automated. Xero and other payment platforms integrate with your business banking and make it much easier to keep a track of expenses and incomings. Likewise, certain apps …

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