Be prepared for Tax Time with these checklists.

Click the links below to download a free handy PDF copy of the tax return checklist for both individuals and businesses:

2020/21 Year-end Checklist for Businesses

2020/21 Year-end Checklist for Individuals

Here are 3 essential tips for small to medium enterprises to assist with preparing for the 2020/21 tax return period:

 Deductions and write-offs:
Keep all your expenses records handy. Check any expenses that you believe may qualify for small business tax concessions including the instant asset write-off and any immediate deductions.

 Get your business records in order:
You will need records of all income transactions including cash, online, EFTPOS, bank statements, and credit or debit card statements.

Digital back-up of paper records:
Create and archive digital copies of your paper records for future reference. Sole traders can use the myDeductions tool on the ATO app.

—

If you have any questions or would like to speak to one of our professional business and tax advisors, please contact our office on (08) 9392 7600 to make a booking.

With three offices across Western Australia and over 20 years of experience, Muntz Partners is a dynamic team of highly trained and skilled individuals committed to providing innovative and effective advice, excellent service and maintaining only the highest standards in ethical professional practice.