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With 30 June approaching, this document draws your attention to year-end tax planning strategies and compliance issues you need to consider to ensure you are in good tax health.
With all the attention on the recent election - and the aftermath - a new law coming into effect from this 1 July has not received the attention it deserves. As you would know, businesses are required to withhold tax from their employees’ wages and report it to the ATO. The gross wages is usually a deductible expense, even if the tax withheld has not yet been paid to the ATO.