directors accept, page-35

Buddy134, et al,

thanks for your inputs.

Of course, not knowing one's personal financial situation it would be near impossible to give a 100% correct answer. But, the information posted here has been enough for me to sort it out.

Just for the record, I use the cash method. I also work as a subcontractor in the construction industry, for which I use the same method of accounting. Have so for 25 odd years, and the ATO has never queried me on it.
That is, until the cash is in my hand, a job is not completed. Not the time when the physical work is finished. For in the construction game, one could be waiting 3,4 or even 6 months to get paid, if at all sometimes.

I go by this motto:
"A bird in the hand is worth two in the bush."
So the ATO can bloody well wait for their tax until after I get paid.

Anyway... only a few more days until I put my lot of shares on the market.

Cheers everyone
--Dan