Monthly archives for May, 2014

Fixed assets on your balance sheet

by Jeff Banks

Preparing for 30 June. Fixed asset schedule is another area to look at to reduce tax. Items that no longer exist or no longer in use needs to be written off and can be used as tax deduction. Speak to Jeff at Banks Consultancy…

Prepayment of expenses

by Jeff Banks

Preparing for 30 June. Expenses can be used as a strategy to reduce tax for 2014 by bringing 2015 expenses such as rent and interest payment forward. This will defer taxation and potentially enhance cashflow. At Banks Consultancy we will be able to run…

Jeff Banks Blog – Inventory at cost for tax purposes

by Jeff Banks

QUOTE OF THE WEEK

In this period of “getting ready for June 30, I was reminded by an interview with a client during the week who was, let us say, less than committed to pushing the edge of the envelope when it came to being aggressive with his taxation affairs….

Your invoicing and your debtors

by Jeff Banks

We will be looking at two strategies today that will keep your balance sheet as clean as possible and ensure that your taxation position has the least possible problems for the next financial year.  The first being the writing off of bad debts and…

Jeff Banks Blog 9 May – Simple Tax Effective Measures

by Jeff Banks

QUOTE OF THE WEEK

As promised last week we are going to head into some specific strategies in relation to tax minimisation for business (some of which also relate to investors in property). As soon as I started to consider this I was immediately taken to the 1986 cinematic offering…

Talking about June 30

by Jeff Banks

Getting ready for 30 June. Preparation of stock valuation at net cost or net realisable value at the lowest possible value or a write off that is beneficial to you for tax purposes. Call us at Banks Consultancy and we can run through the…

Jeff Banks Blog 2 May – Time to think tax Now

by Jeff Banks

QUOTE OF THE WEEK

Wow where has the year gone? He I am sitting down to think about writing my blog for this week and I look at the date and I notice it is 2 May and I am instantly reminded about a quote from the 1971 movie Willie…