Apr 18, 2022
This week’s key takeaway:
Get prepared for the end of the financial year… with Brian Goodridge
Episode intro:
The end of the financial year is coming! Lucky we’ve got our old mate Brian Goodridge on the show to share some great insight on all-things tax. You may have heard Brian before… he’s so good at explaining complex financial matters in the simplest of terms.
Brian will share his seven tax-prep tips, as well as a headsup on the recent changes to the law around family trusts and fixed penalty notices for directors.
By the end of this episode we guarantee your end-of-year will be less of a headache!
In this week’s episode you will learn:
-How Covid and the war in Ukraine is affecting the supply chain
-The dangers of current inflation
-The ‘gazumping’ effect for parts in the automotive sector
-Brian’s 7 tax prep tips
-The importance of robust budgets and forecasts
-Is it really worth buying things at the end of the year as tax offsets?
-How prepaying expenses can save you tax
-How to deal with Super
-When equipment expenditure counts against tax and when it doesn’t
-The pitfalls of inheritance
-Tax on director’s loans explained
-Key changes the ATO has made recently
-When is best to consider liquidation
Show links:
** You can have a free 15-minute chat with Brian: https://calendly.com/brian-629/paint-and-panel-15-minute-meeting
** Find Brian on Linkedin: https://www.linkedin.com/in/briangoodridge/?originalSubdomain=au
** Brian’s accountancy firm: http://www.goodridgeadvisory.com.au
** Do you have something unique you want to share with us? Contact Paint & Panel editor Sam Street at: sam@yaffa.com.au
** Go to www.paintandpanel.com.au to sign up for our weekly E-newsletter
** Go to www.paintandpanel.com.au/podcast to catch up on past shows and access show notes from every episode.