I would like to wish you a very happy and fortuitous new financial year. We hope the 2014 Financial Year was prosperous for each of you and hope that you enjoy plenty of success in 2015.
Like the calendar new year, July is a good time to set New Year’s resolutions for your business and personal financial prosperity.
Planning to spend time on your business rather than in your business is critical to achieving sustainable business success. Why not consider;
- Preparing, reviewing, or updating your business plan
- Review how your achievements in FY14 measured up against your goals and determine what you need to do differently in FY15 to get a better outcome?
- Consider your business succession plan (it’s never too early to start)
- Review your finances – can you get a better deal on your general insurances, home loan, business loan, equipment leases?
- Have you considered salary packaging to increase your take home pay and benefits?
- Future finances – How will you support yourself in retirement – who should you consult?
- Estate planning – establish or review your Will and speak to your family about it so they are aware of your wishes.
Call your accountant to help you with your tax planning.