MAY 2010

End-of-year Tax Planning

Michael Jones, Cummings Flavel McCormack

Don't wait till June 30 to sort out your end-of-year tax affairs, warns tax expert Michael Jones. Now's the time to start planning if you want to take best advantage of the tax rules, he says, and he offers a checklist to steer us through the critical areas. He says we should start by drawing a line on 30 June to work out where our payments and deductions should fall. Then, we should factor in other important considerations such as stock re-evaluation, depreciation rates, writing off bad debt, and any foreign exchange tax rules... and which Michael steers us through to make end-of- year tax planning a whole lot easier.