If your business recognises income on an accruals basis (when an invoice is raised) and your cash flow allows, you may consider delaying raising some invoices until after 30 June, meaning the assessable income will be derived after the 2019 income tax year.
For business income derived on a cash basis (interest, royalties, rent and dividends), you may consider deferring the receipt of certain payments until after 30 June 2019. For example, setting term deposits to mature after 30 June 2019 rather than before.

This entry was posted on Friday, June 21st, 2019 at 5:10 pm and is filed under ATO, General News, Tax. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.