{"id":6513,"date":"2022-05-17T14:58:45","date_gmt":"2022-05-17T04:58:45","guid":{"rendered":"https:\/\/www.www.walshaccountants.com\/?p=6513"},"modified":"2022-05-17T14:58:45","modified_gmt":"2022-05-17T04:58:45","slug":"prepay-business-expenses","status":"publish","type":"post","link":"https:\/\/www.walshaccountants.com\/prepay-business-expenses\/","title":{"rendered":"Prepay Business Expenses"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"6513\" class=\"elementor elementor-6513\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-7ef850b elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"7ef850b\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-60a7651\" data-id=\"60a7651\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-003b4e3 elementor-widget elementor-widget-text-editor\" data-id=\"003b4e3\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>Business owners can prepay business expenses making prepayments (up to 12 months) on expenses (e.g. loan interest, rent, subscriptions) BEFORE 30 June 2022 and obtain a full tax deduction in the 2022 financial year.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-7cb6e1e elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"7cb6e1e\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-80f9c33\" data-id=\"80f9c33\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-02c95bf elementor-widget elementor-widget-heading\" data-id=\"02c95bf\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-medium\">Small Business Entity Concessions<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-9a4eae6 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"9a4eae6\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-cabcdbf\" data-id=\"cabcdbf\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-4d9bfc3 elementor-widget elementor-widget-text-editor\" data-id=\"4d9bfc3\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>Small businesses can access a range of concessions including payment and reporting options. This applies to sole traders, partnerships, companies or trusts.<\/p><p>To qualify for these concessions, you&#8217;ll need to determine if your business is a &#8216;small business entity&#8217; for the income year. You must review your eligibility each year.<\/p><p>If you are not a &#8216;small business entity&#8217;, you may still qualify for certain small business concessions based on your aggregated turnover.<\/p><p>To learn more, visit the ATO website <a href=\"https:\/\/www.ato.gov.au\/business\/small-business-entity-concessions\/\">Small Business Entity Concessions<\/a><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-39204d5 elementor-widget elementor-widget-image\" data-id=\"39204d5\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<img fetchpriority=\"high\" decoding=\"async\" width=\"800\" height=\"419\" src=\"https:\/\/www.walshaccountants.com\/wp-content\/uploads\/2022\/05\/Banner-2-800x419.png\" class=\"attachment-large size-large wp-image-6503\" alt=\"Tax Planning - Walsh Accountants\" srcset=\"https:\/\/www.walshaccountants.com\/wp-content\/uploads\/2022\/05\/Banner-2-800x419.png 800w, https:\/\/www.walshaccountants.com\/wp-content\/uploads\/2022\/05\/Banner-2-300x157.png 300w, https:\/\/www.walshaccountants.com\/wp-content\/uploads\/2022\/05\/Banner-2-240x126.png 240w, https:\/\/www.walshaccountants.com\/wp-content\/uploads\/2022\/05\/Banner-2-1060x555.png 1060w, https:\/\/www.walshaccountants.com\/wp-content\/uploads\/2022\/05\/Banner-2.png 1200w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-ecdc805 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"ecdc805\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-df82517\" data-id=\"df82517\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-1081504 elementor-widget elementor-widget-heading\" data-id=\"1081504\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-medium\">How can Walsh Accountants help? <\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-2c34ebe elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"2c34ebe\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-f4ab902\" data-id=\"f4ab902\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-5acb550 elementor-widget elementor-widget-text-editor\" data-id=\"5acb550\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>Our team of Accountants are specialists in\u00a0<a href=\"https:\/\/www.walshaccountants.com\/who-we-work-with\/\">Business and Entrepreneurial Support<\/a>\u00a0providing sound and sensible advice; assisting our clients to never pay more tax than they need to.<\/p><p>If you are interested in working with our team to conduct a Tax Planning review to have you ready for the new financial year,\u00a0<a href=\"https:\/\/www.walshaccountants.com\/contact\/\">contact us today<\/a>\u00a0for a complimentary discussion based on your personal circumstances.\u00a0<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Business owners can prepay business expenses making prepayments (up to 12 months) on expenses (e.g. loan interest, rent, subscriptions) BEFORE 30 June 2022 and obtain a full tax deduction in the 2022 financial year. Small Business Entity Concessions Small businesses can access a range of concessions including payment and reporting options. This applies to sole [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":6512,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"sfsi_plus_gutenberg_text_before_share":"","sfsi_plus_gutenberg_show_text_before_share":"","sfsi_plus_gutenberg_icon_type":"","sfsi_plus_gutenberg_icon_alignemt":"","sfsi_plus_gutenburg_max_per_row":"","_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","_vp_format_video_url":"","_vp_image_focal_point":[],"footnotes":""},"categories":[64,14],"tags":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Prepay Business Expenses | Walsh Accountants<\/title>\n<meta name=\"description\" content=\"Business owners can 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