Whether an individual or business, we can complete a comprehensive Income Tax Return for you.
However, taxation isn’t just about preparing an Income Tax Return or a Business Activity Statement – that’s really the end of the process. Especially when in business you must review your overall situation and have definite, tailored strategies to suit your requirements.
Most importantly, you must have the appropriate structure for your particular situation to make sure that you aren’t incurring unnecessary compliance costs, paying more tax than is required and that your assets are adequately protected.
Let’s face it, no-one likes to pay more tax than they have to. But making sure that you comply with your legal requirements while legally minimizing your tax can give you the peace of mind you need to get on with running your business.
Tax requirements can be a minefield if you’re not sure of your legal requirements, so we can assist you with accurate advice on:
We have a broad range of tax services and advice for all types of people and business entities including Individuals, Partnerships, Companies, Trusts and Superannuation Funds.
However, we see ourselves as more than just your tax accountant. We work hand-in-hand as partners in your business because we believe that the best results will always be achieved by working closely together and building a long-standing relationship.
Through careful planning and open communication we can help to legally minimise your business and personal tax exposure.
Goods & Services Tax (GST)
One of the regular enquiries we receive from business owners is whether or not they are required to register for Goods and Services Tax (GST).
We determine whether you need to register for GST by reviewing you particular situation. We can register your business for GST and we can assist with any queries you may have regarding conducting a business that is registered for GST.
The GST is a fairly simple tax, but there are some areas where it can be complex and you require some specific advice in these areas. As we handle a wide and varied number of businesses with different reporting requirements, we have extensive experience in the GST to make sure that you are meeting your taxation obligations.
We can advise you of the requirements for your business, and ongoing we can prepare and lodge regular Business Activity Statements based on your data. Or, we can implement the necessary processes for you so that you can prepare and lodge BAS returns in-house.
Capital Gains Tax (CGT)
Planning for asset sales can assist in minimizing Capital Gains tax (CGT) but there are times when circumstances change and an asset must be disposed of quickly. We can assist you to get the best outcome, and we advise on all aspects of CGT, including:
- Sale of shares, investments and real estate,
- Sale of your business and access to the small business CGT concessions,
- Sale of your Principal Place of Residence,
- Access to the CGT rollovers,
- CGT in Superannuation.
Payroll Tax requirements can vary from business to business and is potentially a large outgoing for many businesses
We can review your requirements for payroll tax and determine whether you should be registered, and ensure that you’re paying the correct amount when payroll tax is applicable.
Fringe Benefits Tax (FBT)
Fringe Benefits Tax (FBT) is often widely misunderstood and can be costly if you do.
A fringe benefit is a benefit provided to an employee (past, present or future), other business associate, or a family member by an employer, an associate of the employer, or by a third party under an arrangement with the employer.
FBT is separate from income tax and is based on the taxable value of the various fringe benefits provided.
We can advise on FBT for your own salary package or for those of your employees. We also prepare and lodge timely and cost-effective FBT returns on your behalf where required.
Tax Effective Business Structuring
Before starting you business is always the best time to set-up a tax effective structure. However, at times there is a need to restructure your business given changes that can occur.
Business structures can be easy to set up but can also be difficult and costly to change. Don’t leave it to chance; if you’re setting up a business or re-structuring an existing one, we can provide expert advice to assist you do it in a way that minimizes your tax and protects your interests.