Bringing Forward Costs

End of financial year is fast approaching. Now is the time to review your business, assess current financial positions and work on minimising your tax. A great way to minimise tax is to bring forward some of your costs. These costs can include rent, accounting fees, interest expense or low cost repairs and maintenance. If you have excess cash then bringing forward these costs will reduce your current year income which in turn helps to lower your tax.

If you would like assistance in establishing which costs should be brought forward and how to reduce your tax, contact us now. We can provide the guidance you need to comfortably position your business for the end of financial year.

Ellen Mubwandarikwa