3-step success system

Module 3 of 3: Tame tax

Make tax time, relax time

 Tax causes big problems for people when it's invisible.

 "I don't know how much tax I have to pay."

"My accountant didn't tell me, I don't have visibility on this."

"I think I'm going okay, but I don't actually know what I owe, and it's really stressing me out."

It doesn't have to be this way.

Let me show you how to:

  • Know your tax position
  • Set aside money for tax automatically
  • Minimise tax

How does Thriday make this easy?

Thriday is very simple. As long as your business income is coming into your Thriday bank accounts, your expenses are going out of Thriday, and you're saving your receipts to Thriday, 99% of your work is done.

Know your tax position

With Thriday you always know how much tax you owe

  • Tax is calculated automatically in real-time
  • GST is calculated automatically in real-time
  • Get a visual of your tax position every time you log into Thriday

Set aside money for tax

Thriday's auto-allocations feature is perfect for setting aside money into a dedicated tax account automatically.

  • Automatically set aside tax into a dedicated account as you earn money
  • Earn {{interestRate}} on every dollar saved in your tax account
  • Lodge your BAS and tax directly from Thriday or get us to do it for you

Minimise tax

The best way to legally minimise tax is to claim all the expenses and deductions you're allowed to.

Thriday makes this simple with smart receipt capture and an easy, automated asset and liability register.

  • Save receipts to claim expenses
  • Add your assets and liabilities to Thriday to automate deductions
  • Minimise your tax

That's the end of the training but just the beginning of a simpler and more successful business journey.

By implementing these fundamental principles you should expect your business to survive and thrive!

Remember:

  • Set the foundation with dedicated accounts and revenue allocations
  • Always be thinking about how to get paid faster
  • Keep expenses in check
  • Set aside money for tax automatically
  • Leverage technology
  • Get the right support
  • Know your tax position at all times
  • Set aside money for tax automatically
  • Claim expenses and deductions to keep tax at a minimum