Money Matters

Happy EOFY

It’s that time of year again. With 30th of June five days away, I thought it appropriate to post an EOFY to-do list:

Stock up on work-related goods: if you’re thinking of making a work-related purchase, now is the time to do it. Otherwise you will have to wait up to twelve months to claim it on your tax return. Before you start stocking up on pencil sharpeners, however, consider ‘bringing forward work-related expenses such as membership fees and subscriptions’ as per financial planner Laura Menschik (via The Age). Next financial year’s income protection is another tax-deductible no-brainer that you should be paying off right about now. Continue reading