The end of financial year (EOFY) is an important, yet often, stressful time for small businesses.
Many business owners struggle to maintain the records they require to satisfy their tax obligations such as; records for deductions, bookkeeping, tax returns and planning for the following financial year. With adequate planning and preparation, this process can be easy to manage and less daunting each financial year. To support small businesses, the National Retail Association (NRA) have developed a guide that will aid small business owners to tick off their requirements as they go, giving them peace of mind they are achieving the obligations set out by the Australian Tax Office (ATO).