Christmas is here and for many people that mean’s Christmas parties, shopping and holidays. But for business owners there is also an important question:

Do I have enough cash to make creditor and loan payments that fall due over the holidays?  If not, can you chase customers with outstanding amounts and get those paid? Or do you need to arrange an overdraft from the bank or increase the limit of your current overdraft?

It is advisable to organise this as soon as possible as your bank manager may not be available through the festive season.

And don’t forget about tax.

GST for the 30 November period is due for payment on 15 January 2016.  If we prepare your GST returns we will be advising you of the amount due for payment before Christmas.

15^th January 2016 is also the due date for the second instalment of 2016 provisional tax.  Again if you are a provisional taxpayer on our agency list, you will have received a notice from us confirming the amount due.

There are options around financing tax payments as well, at interest rates much lower than bank overdraft rates.

If you take some time to plan your cash flow now you will be able to look forward to the holidays too!

If you need any assistance with this please contact us now. 

Written by Allison Henderson