News and Views Podcast Show · Sarah Power: Director of Business Concepts Group, Financial Planner and Accountant

NV141: Financial Year End Planning

·21 min·1 clip

Crypto swaps count as capital gains, even when you trade one coin for another instead of cashing out.

1. BCG News and Views Podcast Show episode 141 is titled “Financial Year End Planning” and focuses on 30 June tax deadlines. 2. Sarah Power hosts with Chris Reid, who adds tax-planning detail for individuals and business owners. 3. The episode asks what needs to be completed before 30 June so deductions, super, and records are in order. 4. Sarah Power lists the May monthly BAS due on 21 June, FBT lodgement through a tax agent due on 25 June, and 30 June as the end of the financial year. 5. Chris Reid says the home office shortcut method at 80 cents has gone for the 2023 year and the fixed rate has increased from 52 cents to 67 cents per hour. 6. He says the 67-cent rate now includes phone, internet, electricity, gas, and computer consumables such as ink cartridges, paper, and stationery. 7. Chris Reid notes that depreciation on office furniture over $300 can still be claimed under the fixed-rate method. 8. Sarah Power says the ATO wants diary records, timesheets, or another log of hours worked at home from 1 March 2023. 9. The hosts explain that a dedicated office claim is different from working at a kitchen table or in the corner of a lounge room. 10. They also cover motor vehicle log books, the 13-week period, and the 5,000-kilometre cap for the cents-per-kilometre method. 11. Chris Reid says logbooks are usually valid for five years, but a change in usage during COVID or after COVID can require a new one. 12. The episode warns that receipts and electronic records matter because tax agents want claims that can stand up in an audit. 13. Sarah Power and Chris Reid discuss capital gains and losses, including the idea of realising a loss to offset a gain. 14. Chris Reid says the ATO has data matching for crypto investments and sales and can detect trades from one crypto to another. 15. He also says property sales appear in ATO pre-fill reports and may trigger review of rental or capital gains treatment. 16. The hosts say extra super contributions need a notice to deduct and an acceptance from the super fund before the deduction can be claimed. 17. Chris Reid points to carry-forward super caps as another option, but says advice is needed to avoid exceeding the cap. 18. The episode has a practical, checklist-style format with back-and-forth explanations between Sarah Power and Chris Reid. 19. Business owners, employees, and people with rental properties or crypto trades would get the most value from this episode. 20. People wanting general tax reminders but not detailed year-end planning may skip it.

As heard by us

A steady year-end tax checklist built around dates, paperwork, and super rules.

Financial year-end planning sits at the center of this conversation, and its value comes from how it turns a crowded June into a clear checklist.

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Why you'd press play

Need the June tax dates and super paperwork sorted before 30 June?

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