At the close of the financial year, we’re back to the time everyone marks off in their calendar to experience heightened stress, higher blood pressure and sleepless nights. Tax time is a difficult period for many businesses and individuals – but it doesn’t have to be. It’s actually a simple, straightforward process to get your tax in, get it sorted and get your return without difficulties, obstacles or friction.
Why you need to get your tax return in now
The sooner you start to get your taxes sorted and lodged, the easier it’s going to be for yourself, your staff, your accountant and the ATO. When you leave these tasks to become a back log, that’s when it’s easer to let them fall through the cracks and turn into a bit of a quagmire. If you’re timely and organised, that whole process becomes streamlined.
If you’re able to make a move now and begin the process, you’ll be able to avoid losing time down the track or even running into issues with your return, late fees or worse. Getting your tax in early or on time and not delaying are the most positive actions you can take as a business owner and a Charltons client.
How to make your tax a smooth process
If you’ve kept detailed records throughout the year, we’ll love you – and so will the ATO. A smooth tax time can only happen when you know what documents you need to keep and you’re able to provide them to us as quickly as possible. The key here is to keep this document management happening and ticking along throughout the year so you don’t have a mad rush and have to send out document search parties at the last minute.
If you’re using one of our recommended cloud options such as Xero, that process instantly becomes 10x easier for you and for us; your data will all be accessible instantly. If you’re not, this could be a good time to start thinking about transitioning to a cloud platform in the new financial year.
The next step
You can reach out to your Charltons contact now (or email firstname.lastname@example.org) to organise a time for you to come in, tell you what you need to provide, and help you through the process at every stage. You’ll be able to receive our best communication, insight and assistance to make sure that you have a good ongoing relationship with the ATO.
Help us grow the Charltons family
This is also a great time to tell your friends and workmates about Charltons. If you’ve had a positive outcome through our work and we’ve been able to support you in your financial matters, give your colleagues the chance to have that same experience. You can ask them to get in touch with us directly and mention your referral, or you can directly introduce us.