The get-a-better-tax-return checklist for SMEs

May 28th, 2021

End of financial year is a race to the finish for small businesses as they remember all the things they should do ahead of the tax deadline. SMEs rush to buy goods, and pay or pre–pay invoices and bills before 30 June to yield a better tax return.  

Here’s a quick run-down of the things SMEs should do ahead of the tax deadline: 

• Advertising: Run an EOFY ad campaign by buying digital ads (Facebook, Instagram, etc.) now and paying for them later 
• Bills and expenses: Pay your rent, insurance, electricity or fuel 
• Inventory: Stock up on inventory, refurbish or spring clean your office
• Invoices: Pay bills  
• Retail goods: Buy the hardware, stationery, equipment or new tools that they need
• Services: Build a new website, get IR support or an accountant’s advice 

Help your clients get ahead on their invoices with Zip Business  

Zip Business is a new product available to Connective brokers to help their clients accept payments, pay expenses and fund growth.  

Zip Business Trade is a Buy Now, Pay Later product up to $3,000 for use with Zip merchants and to pay bills with BPAY. This year, Zip Business is shaking things up by rewarding SMEs with cash back when they spend using their new Trade account. It’s interest-free and there are no sign-up fees.  See the EOFY special for Trade HERE.

Zip Business Trade Plus is a Buy Now, Pay Later product from $3,000 to $150,000 for the same purpose (coincidentally, the ATO’s Instant Asset Write-Off enables SMEs to claim 100% tax deduction for assets purchased up to $150,000).  

Zip Business Capital is an unsecured line of credit from $10,000 to $500,000 and is now the only unsecured small business loan that has up to five  years duration (for loans above $50,000 and five years’ operating history as the same legal entity).  Zip are paying an additional 1% commission on first drawn loans for newly submitted deals referred in June, drawn by June 30.

Learn more about the Zip Business offering from your BDM or by contacting Matthew Bright at Zip Business: matthew.bright@zip.co or 0428 119 563