Running a small business is tough, and staying on top of your tax obligations can be a major source of stress. Without professional guidance, it’s easy to miss opportunities to reduce what you owe. And let’s be honest—why pay more tax than you need to?

At Twenty Acres Accounting, we stay up-to-date with all tax laws and regulations to help our clients save money wherever possible. We keep track of every tax-related change, so you don’t have to, ensuring you can take advantage of every possible deduction.

Our tax minimisation strategies include:

• Maximising superannuation contributions (without exceeding caps)
• Bringing forward deductible expenses
• Deferring taxable income
• Managing capital gains

The key to successful tax planning is starting early. Many of the best strategies require careful preparation before the financial year ends, making it crucial to get professional help well ahead of time. At Twenty Acres Accounting, we ensure that all the right records are kept so you’re always ready to make the most of every opportunity.

The sooner you reach out to us, the sooner we can get to work on tax-saving strategies for your business. Contact Twenty Acres Accounting today and connect with one of the Peel Regions' best business accountants.

Is your business classified as a small business entity? If it is, you may qualify for a range of tax concessions from the ATO, which can make a significant difference to your bottom line.

To qualify, your business needs an aggregated turnover of less than $10 million, and it must operate for all or part of the financial year. If your business is structured as a company, you might even qualify for a lower company tax rate. But eligibility can change year by year, and staying on top of it can be confusing.

Unsure if you qualify? Contact Twenty Acres Accounting today—we’ll assess your eligibility and ensure you’re getting the best small business tax advice available.

As a small business, you may be eligible for an instant deduction on asset purchases if your turnover is under $10 million (or $50 million). This means you can claim immediate deductions on business assets bought during the financial year, helping reduce your taxable income faster.

To claim this deduction, you must buy the assets and have them ready for use before the end of the financial year. Additionally, you may be eligible to use simplified depreciation rules for claiming instant write-offs.

Maximise your tax deductions—speak with one of our specialists at Twenty Acres Accounting to see how you can benefit.

Buying equipment for your business or your employees can come with tax benefits if done correctly. Certain items—such as portable tools of trade, laptops, digital cameras, and protective gear—can be purchased in a tax-effective way.

If structured correctly, these purchases can provide tax deductions for employers and minimize the impact on an employee's salary package.

Ready to make strategic purchases? Let Twenty Acres Accounting help you make tax-effective decisions.

Want to claim a tax deduction for your employee's superannuation contributions? You’ll need to ensure payments are received by the super fund (or SBSCH) by June 30. Last-minute payments can lead to processing delays, meaning they may not be eligible for deductions in the current year.

If you find yourself needing to make last-minute payments, reach out to us at Twenty Acres Accounting before proceeding. We can help ensure everything is done right.

Want to reduce your tax burden? Here are some effective strategies to consider:

• Push tax payments to future years: Defer invoices and delay cash payments until after June 30.
• Plan your capital gains: Arrange the receipt of investment income or the contract date for asset sales to fall after June 30.
• Pre-pay expenses: Items like loan interest, rent, or subscriptions can be pre-paid to claim deductions this year.
• Prepare in advance: Get your motor vehicle logbook, investment property depreciation report, year-end stock-take, and records for writing off bad debts in order before June 30.

Need help implementing these strategies? Contact us at Twenty Acres Accounting to prepare well before tax time hits.

• Private Company Loans ("Div 7A"): If you've borrowed from your company, ensure repayments are made by June 30, or risk the amount being treated as an unfranked dividend.
• Trustee Resolutions: Make sure trustee resolutions for discretionary trusts are prepared and signed before June 30.

We recommend booking an appointment with us well in advance of June 30 to explore tax-saving strategies tailored for you.

Ready to minimise your taxes and maximise your savings? Reach out to Twenty Acres Accounting today!