Vicky Krishnamurthy

This is something I hear all the time:⁠ ⁠ "Ooh I am just a small business and I did not make money so I just did my own tax return" ⁠ ⁠

🌸 Do you understand the business losses rules? ⁠ ⁠

🌸 Did you complete the carry forward losses rules accurately? ⁠ ⁠

Scenario: ⁠ ⁠ In the first year of business you invest a lot in the business and as expected make a loss in that year.⁠ If you do not understand (which you should not be expected to unless you are an accountant) the losses rules and include them in your tax returns accurately, you will end up paying more tax the next year because there will be no carry forward losses in the following year to help reduce the business profits in Year 2.

⁠ ⁠ You've invested time effort and money into your business, do yourself a huge favour and use an accountant for your tax return!

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As accountants around Australia, myself included, wind down on 30 June before we start all over again - I want to take this opportunity to thank you for the support
this past financial year.

Every like, comment and message reminded me of why I show up every day on social media to share my knowledge and empower you to take control of your business and personal finances.

Most importantly the clients that have stayed on and those that have came on board - thank you for trusting in myself and Glide to help look after your business and taxes.

Just like many of you, I am a small business owner and every opportunity in the business brings absolute joy and gratitude.
Wishing you a cracking 2025/26 financial year!