Tips to avoid paying too little — or too much — tax

Businesses all too often fall afoul of the ATO for deductions they try and push through. But others wind up paying more tax than they need to, accountant Alexander Laureti reveals. And with the transition to a new financial year involving some major changes in 2019, the scope for getting things wrong is high. Alexander Laureti, of LMS Advisory, joins My Business editor Adam Zuchetti to explore some of the key points impacting SMEs as we enter FY20, including: - How businesses can legitimately lower their tax bill - Where ATO investigators focus their scrutiny - Impending changes in the new financial year