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Accounting and Taxation

In essence, accounting boils down to tracking the money you take in and the money you spend. For businesses that deal in a small number of transactions per week or month, periodic data entry may be sufficient. Retail businesses with a high number of transactions typically call for daily accounting. Keeping up to date on expenditures and income allows you to see where you make the most and where your business loses money. Our qualifies and experience accountants can help and guide you to minimize you expenses and maximizing your profit. Below we have listed some of the services we offer to our clients. This list is by no means exhaustive and our friendly team would be more than happy to talk to you about services that you do not see listed.

Income Tax Returns

We ensure that your financial affairs are managed in a way that is both tax effective, efficient and compliant within the law. We can assist with:

  1. Income tax returns on behalf of individuals, companies, trusts, partnerships and Self-Managed Superannuation Funds
  2. Australian Taxation Office (ATO) investigations and disputes
  3. Applications for ATO private binding rulings
  4. Capital Gains Tax advice
  5. Business CGT concessions

Goods and Services Tax (GST)

The GST system can place pressure on business with compliance and lodgement obligations. Our highly qualified and experienced expert team member can help you navigate the GST system and ensure your records are maintained accurately. We can assist with:

  1. Preparation and lodgement of Business Activity Statements (BAS) and Instalment Activity Statements (IAS)
  2. Advice regarding GST matters for individuals and businesses
  3. Reviewing data entry and advising of any issues affecting data integrity

Fringe Benefits Tax (FBT)

Fringe Benefits Tax (FBT) can be a complicated area of the taxation system and employers are often unaware of their obligations. We will assist you to identify benefits provided to employees and prepare FBT returns for lodgement. Common fringe benefits to consider are:

  1. Cars
  2. Expense payments
  3. Loans
  4. Living-away-from-home allowances
  5. Car parking
  6. Entertainment and meals
  7. Other employee benefits

Payroll Tax

Depending on state legislation, payroll tax may be payable when your business total Australian wages exceeds a threshold. We will ensure you are aware of your reporting obligations for payroll tax and to assist you with the preparation and lodgement of your payroll tax returns. We can Assist with the preparation of payroll tax returns and annual reconciliations, Advice on payroll tax and reporting obligations.

Tax Planning

We are specialised in providing proactive tax planning advice for all our clients. We believe you need to be aware of future tax liabilities, educated in managing your taxation affairs and be aware of available options to minimise your tax position. Tax legislation can be complicated. With the help of our good advice and professional experience we can proactively manage and minimise your tax position.