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Jeff Banks Blog 27 June – Get over Yourself. Its only ever about results

by Jeff Banks

QUOTE OF THE WEEK

I think its only fitting given we are at the end of the financial year that we seek a quote from a birthday movie (yes I have a warped sense of humour) so this week we look to the 1984 movie Sixteen Candles:

Will you quit feeling…

The final measures for this week

by Jeff Banks

There is still one week to make sure that what we need to do is done before 30 June. Things such as prepaying expense and claiming extra deductions for super contributions needs to be done early this week to make sure that it is…

Jeff Banks Blog – More may not Better

by Jeff Banks

QUOTE OF THE WEEK

Continuing on the list of literary masterpieces and on our subject of ensuring we are ready for the time when we need to prepare our 2014 income tax returns, this week we venture into the 1995 movie Sabrina for our quote:

    “More isn’t always better, Linus….

Being absolutely ready for June 30

by Jeff Banks

There are various strategies that we can take to prepare for June 30 to make sure that we pay the least amount of tax possible. Talk to one of our accountants about the strategies from previous tidbits such as deferring income, prepaying expenses, making…

Jeff Banks Blog 13 June – Smart Tax Measures Summarised

by Jeff Banks

QUOTE OF THE WEEK

This week we are going to one of those “literary masterpieces” for our quote of the week. We are taking a piece of dialogue from the 1992 movie Under Siege:

“The movement is dead. Yes, of course. Hence the name: movement. It moves a certain distance, then…

Donations

by Jeff Banks

Donation is something to consider as the little bit extra that will achieve an extra tax deduction before the 30 June. If you are considering contributing to a worthy cause and you would like to claim it as tax deduction this financial year, make…

Jeff Banks Blog – Considering Super to reduce tax

by Jeff Banks

QUOTE OF THE WEEK

As some may know I have had a few health issues over the past 2 weeks but back now firing on some cylinders. This week I want to take a quote from the 1978 movie Convoy:

“My dad always said I ought to be like a duck….

Superannuation & the end of 2014

by Jeff Banks

This is the time of the year that we can look at topping up our superannuation with extra concessional super contribution, the maximum amount that we can get a tax deduction at this particular time. It is different for each individual and we must take in account our employer contribution when calculating the…

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…

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The extraordinary – is in the way we make sure that you know when your obligations are due, before they are due. We will constantly remind you when deadlines are approaching.