articles: Tax Planning

2018 End of Year Tax Planning Checklist

The Moore Stephens Tax Team have prepared this guide to help you navigate the various items that may require consideration, prior to 30 June 2018, for effective tax planning. This information will assist you in identifying items that you may like to discuss with us.

2017 Tax Planning Checklist: Introduction

This paper sets out various items to consider prior to 30 June 2017, for effective tax planning.

  • Taxing of Trade Income

  • Record Keeping

  • Individual Income Tax Rates

  • Temporary Budget Repair Levy

  • Medicare Levy Surcharge and Private Health Care Rebate

2017 Tax Planning Checklist: Deductions

Key Items

  • ​Prepayments - Small Business Entity Taxpayer

  • Prepayments - Not Defined as Small Business

  • Prepayments "Excluded Expenditure"

  • Deductions Under the General Prepayment Rules

  • Bringing Forward Deductions

  • Interest on Investment Loans

  • Bad Debts (if taxation return prepared on an accruals basis)

  • Staff - Bonuses

  • Staff - Holidays

  • Superannuation

  • Superannuation Minimum Contribution

  • Superannuation Co-Contribution – for 2016/17

  • Interest on Loan Funds

  • Repairs and Maintenance

  • Directors’ Fees

  • Travel Deductions

  • Expense Substantiation

  • Depreciation

  • Negative Gearing

  • Building Allowance

  • Borrowing Costs

  • Entertainment

  • Research and Development

  • Property Owner's Deductions

  • Donations and Gifts

  • Audit Fees

  • Salary Packages

  • Working from Home Expenses

  • Expenses for Shareholding Investments

  • Taxation Advice

  • Motor Vehicle Expenses

2017 Tax Planning Checklist: Personal Planning

Key Items

  • ​Zone Offset

  • Sickness and Accident Insurance Payments

  • Home-Office Expenses

  • Utilising Tax Free Threshold

  • Tax Offsets Net Medical Expenses

  • Work Related Expenses

  • Dividends, Interest, Managed Funds Distributions

  • End of Year Tax Schemes

  • Salary Packaging

  • Superannuation Contributions

  • Splitting of Superannuation Contributions

  • Australian Taxation Office Monitoring

  • Motor Vehicle Expenses