Happy New (Financial) Year!

Now that we have had a chance to get over our sore heads from ringing in the New Year - and yes while the general population may not feel the need accountants actually do celebrate the new financial year! – it is time to settle in for the busy tax season ahead.

While we put our heads down and start finalising your financial records and tax returns for the year just ended its important to remember that a New Year means a chance for a fresh start and hopefully an even better year than the last.

New Year is the time for planning the year ahead and setting new goals. On 31 December we all go through the (often) fruitless exercise of setting New Year's resolutions so what better time than the start of a new financial year to look at the financial aspects of your life.

If you are a small business this may involve updating your business plan, setting new revenue targets, cashflow forecasting and planning to make the most of any tax saving concessions available to you.

For a retiree or someone approaching that important milestone you may be wondering how much income will I actually get from my superannuation? Is there anything I can do now to improve my retirement income?

If you consider yourself just a 'normal' person working for wages there are still financial goals and checks that are helpful. Are you saving for a holiday, or planning a wedding? Do you have a household budget and track your spending? Is there any way you can minimise the tax you pay?

We can help you to answer all of these questions so please don't hesitate to contact us but more importantly, just take a bit of time to think about and plan the year ahead.