Duties; makes cuts after the end of August (5)
I believe the answer is:
taxes
'duties' is the definition.
(I've seen this in another clue)
'cuts after the end of august' is the wordplay.
'cuts' becomes 'axes' (both can mean to cancel or dismiss).
'after' is a charade indicator (letters next to each other).
'the end of' says to take the final letters.
The last letter of 'august' is 't'.
'axes' put after 't' is 'TAXES'.
'makes' acts as a link.
(Other definitions for taxes that I've seen before include "Levies, strains" , "Puts great strain on, as Revenue Commissioners do" , "Levies duty" , "Levies imposed by government" .)