Ah, June. The month when winter starts to bite, the doona feels more inviting, and the ATO quietly sharpens its pencils. Time to call your Tax Accountant, Hobart.
Yep — End of Financial Year is upon us again, sneaking up like a fox on the henhouse in a dryer. But before you go into hiding under a mountain of receipts, let’s take a look at how a little smart tax planning can make a big difference to your bottom line (and maybe even fund that East Coast getaway you’ve been daydreaming about).
At Hills Accounting in Hobart, we’re here to make EOFY a little less “ugh” and a lot more “ahh, that’s better.”
🧴 Why Bother with Tax Planning?
Think of tax planning like sunscreen. It may seem like a chore now, but future-you will be mighty glad you did it. A bit of planning before June 30 means you’re more likely to keep your money in your wallet — not in the ATO’s. That could mean more weekend adventures, fewer awkward Centrelink forms, or maybe just more Tim Tams in the pantry. All valid wins.
📘 Play by the Rules (But Know Them First)
ATO guidelines are like IKEA instructions — confusing, slightly intimidating, but incredibly helpful if you know how to follow them. Problem is, most of us would rather be watching the footy or bingeing crime docos. That’s where Hills Accounting comes in — we speak fluent tax so you don’t have to.
🛠️ Tax-Smart Strategies (No Dodgy Business)
🧾 Claim What You Can — and Only What You Should
Work uniforms, donations, tools, home office gear… they can all add up. Just make sure you’ve got the receipts, and keep it fair dinkum. A good accountant (like us, obviously) will help you sort the legit from the not-so-legit.
💰 Top Up Your Super
A little extra in your super before June 30? Great move. It might reduce your tax bill now and boost your future beachside retirement lifestyle. (Cocktail optional, but recommended.)
👫 Consider Income Splitting
If your partner earns less, you might be able to shift some investment income their way. It’s like passing the footy to the person most likely to score. Legal, smart, and satisfying.
📉 Attack High-Interest Debt First
Sometimes the best return isn’t an investment — it’s knocking down that credit card. And depending on your situation, timing your investments could give you a tax edge too. We’ll help you weigh it all up.
🧾 Keep Those Records Tight
Receipts, invoices, logs, notes on the back of napkins (okay, maybe not those)… Good record-keeping makes your tax return easier and keeps the ATO off your back. Plus, it makes us accountants smile, and that’s got to count for something.
🧑💻 Why Choose Hills Accounting?
We’re not just here to lodge your return and wave you off. The team at Hills Accountants in Hobart are your tax allies, your deduction detectives, your financial firefighters when things get smoky. We make tax time less taxing (sorry, we had to).
No judgment, no jargon — just practical, personal advice with a side of common sense and maybe even a laugh or two.
So, What’s Next?
Don’t let June 30 sneak past while you’re busy scrolling through dog videos. Now’s the time to get your tax sorted — before it becomes a July panic. Let Hills Accounting help you plan, prep, and power through.
Because being smart with your tax isn’t about being tight — it’s about being brilliantly prepared.
Remember, this article is general in nature and doesn’t take into account your specific objectives, financial situation, or needs. For advice tailored to your circumstances, have a chat with us at Hills Accounting Hobart.
Talk to Kathy and the team today and stay ahead with Hills Insights.
Call Now! 03 6273 7800, or email admin@hillsaccounting.com.au.