Business.gov.au have put together 10 essential tasks for small businesses’ end of financial year (EOFY) to-do list.

With just 20 days left until the end of the financial year, Business.gov.au emphasise the need to small business owners to complete their bookkeeping and tax returns for the year, as well as prepare for the new financial year.

The 10 essential tasks for small businesses’ end of financial year to-do list are: record keeping & compliance, finding out what tax deductions can be claimed, ensuring that a registered tax agent is being used, keeping up to date with tax changes starting in the new financial year, being wary of tax refund scams, reviewing finances, reviewing & updating business and marketing plans, reviewing the business structure, reviewing insurances and backing up & securing files.

Business.gov.au provide more information for small business owners to be prepared for tax time on their website, which can be found here. More information on taxes and tax returns can be found on the Australian Taxation Office’s website, which can be found here.

Image via Pixabay.

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