The EOFY Is Fast Approaching

  • Immediate write off available for business assets costing less than $20,000.
  • Superannuation contributions for staff made prior to 30 June are deductible in this financial year.
  • Check your stock for any obsolete items
  • Check your debtors for any debts that may have gone bad.

  • The cap for Concessional Contributions into Superannuation in the 2017 FY is $35,000 if you are over 49 and $30,000 if you are under 49  – remember this cap includes any Superannuation Guarantee from employment.
  • A tax deduction is available for the prepayment of interest on deductible lending for investments.
  • A tax deduction is available of the prepayment of any work related subscriptions/memberships
  • A tax deduction is available for the payment of any work-related expense before 30 June including tools, uniform etc…

Please contact your BKM representative before 30 June to discuss how any of the above points raised above affect you.