Tax Planning FY2023 | Calm Tax Convo | businessDEPOT

So, I just read this article titled “Tax Planning FY2023” on businessDEPOT and damn, it was super interesting. Basically, it talks about how small business owners can take advantage of tax planning to save money and reduce stress for the upcoming financial year.

The article breaks down different strategies like setting up a trust, restructuring your business entity and making contributions to superannuation. It’s all about being proactive and planning ahead, rather than leaving it until the last minute and stressing out when tax season rolls around.

I personally found the section on super contributions to be particularly valuable. As someone who’s self-employed, I struggle with saving for retirement and this article gave me some great ideas on how to maximise my contributions and get some tax benefits while I’m at it.

Overall, I think this article is a must-read for anyone running their own business or working as a freelancer. It’s easy to get overwhelmed by the intricacies of taxation, but by staying informed and making smart decisions, you can save yourself a lot of trouble (and money!) down the line. So, get to it and start planning your taxes for FY2023!