Two more sleeps and a new financial year will be upon us. The last few weeks have been a sea of emails, telephone calls and questions to make sure that all loose ends are tied up and ready for the coming year. Every year the top ranked question at EOFY is 'Is there anything I should be doing before 30 June?'
It always lightly entertains me, this date '30 June' has become dooms day. It marks the middle of the year. the end of a financial quarter, my friend's birthday and the dreaded end of financial year. At a recent monthly tax update conference it dawned upon me that if tax and accounting wasnt my field of expertise it would scare the life out of me! I have been studying and working in this industry for 14 Years and still I can not confidently say that I know everything. There is a mountain of complex tax legislation already in place and it seems to keep getting larger and more complex as time goes on, its no wonder that 30 June has become dooms day for some clients.
On a more positive note I am confident that I wont be out of a job until retirement age - and even at the rate that, that is changing its possible I could be still writing to you when I am 80 Years Old!
I have included some tax planning tips for end of financial year in my posts and keep an eye on the changes to key dates to ensure you dont miss any key lodgements or payments!
Happy EOFYS to all my valued clients and prospective clients. Look forward to a new prosperous financial year in 2013!