It's always a good idea to take a look at your financial position and arrangements before 30 June rolls around.
Yesterday we noticed NAB published its list of top strategies for business owners.
While they seem sound to us and include old favourites such as deferring income, taking advantage of the tax deductibility of superannuation contributions, and checking your insurance cover, we're somewhat concerned by the idea of making relatively major financial decisions in a rush.
Finally making that extra contribution to an existing super fund that you hadn't quite got round to doing is one thing, but finding a new insurance policy that really meets your - and your family's - needs or deciding to invest in expensive new equipment are quite another.
NB: at least one major super fund says contributions must be received by 27 June (ie, today) to ensure they will be treated as having been made in 2013-14. Apparently the ATO has made conflicting statements that have yet to be clarified about the treatment of contributions received on 30 June.
Disclaimer: this article is not financial advice.
