Taking care of yourself this tax time

Tax time is an important but often stressful time for small business owners, with end of financial year demands adding to the challenge of day-to-day operations.

As a small business owner, you can face a range of unique challenges that can affect your and your employees’ mental health. Finding the time to take care of yourself is essential.

We’ve put together some tips you can use to look after your wellbeing and manage stress levels:

• Access free mental health coaching with NewAccess for small business owners. Developed by Beyondblue, NewAccess is run by coaches with a small business background and consists of 6 tailored and practical sessions, including a follow-up to ensure you’re staying on track.
• Keep connected and find someone you can talk with about your business successes and worries. Your trusted tax professional is a great source of support and information. You could also talk with others in your industry or a friend or family member.
• Keep good business records. Prepare for the end of financial year to ensure you have the right information to meet your obligations, avoid mistakes, and can better assess your business’s financial health.
• Get into the habit of using digital tools to help you streamline processes, spend less time on administration and more on your core business, and improve cash flow.

There are many organisations that can provide information and support to help you with your mental health and wellbeing.

Source: ATO