It’s May already – how did that happen? That means there’s less than two months until the end of the financial year. It’s time to swing into action and get your debts in order.
You have two important opportunities
From now until June 30, businesses have two opportunities to improve cash flow:
- Now is the time to try and collect outstanding accounts – before June 30.
- You can write off genuinely bad debts this financial year, which can reduce your tax and allow you to claim a GST credit.
So is the debt bad or just overdue?
The ATO has clear rules to establish if the debt is just overdue, or if it falls into the ‘bad’ category. You must be able to prove you have taken adequate steps to try and recover the debt before you can write it off.
How can we help
Recovering overdue debt is difficult and stressful. Complying with the ATO tax ruling can be very complex. It’s a good thing we’re experts at doing both! The team at Optimum Recoveries can dramatically improve your chances of collecting outstanding money before June 30. We can also work with you to ensure you’ve taken the necessary action so that you can write off bad debts this financial year.
You’ve got nothing to lose
We only charge commission if we successfully recover the debt, so you have absolutely nothing to lose. Call Optimum Recoveries today. We’ll get your debts in order before June 30.
For more information please call Optimum Recoveries on 1300 556 937.