July 1st is the Start of the New Financial Year

Well, here in Australia, the financial year is over and a new one has begun. Did you achieve your financial goals for the last financial year? Did you make some extra money to help cover those nagging bills that always seem to come in faster than your pay, regardless of the source?

At the end of each financial year it is a good time to evaluate how much money you have earned and whether you could have done better. It may be time to change some things to help improve your earnings if possible. Consider talking to colleagues about how they have improved their business and use some of their ideas if you can.

It’s time to get started on your tax return. Get your records in order and either do your return yourself or give the information to your accountant to do it on your behalf. I use an accountant because then I know it is all done properly. If you do it yourself, it can be easy to overlook things and miss out on potential rebates.

It’s also time to set new financial goals for yourself. Work smarter and aim to achieve more if possible. Make changes in your business so you can do this. Ask for advice from people you know if you need to do so as well.

Good luck to everyone and I hope your tax return is easy and that you get a rebate instead of having to pay tax.

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