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Prepare and lodge tax returns for individuals, businesses, sole traders, trusts, companies, partnerships and SMSF.
Prepare and lodge Business Activity Statements (BAS) and Instalment Activity Statements (IAS)
Assess FBT, GST, CGT, state taxes, corporate taxes, and taxes associated with trading overseas.
Conduct periodic tax planning and develop strategy to minimise tax exposure.
Advise on the most appropriate business structure without incurring unnecessary tax or levies.
When it comes to meeting your tax obligations while minimising your tax exposure, professional advice is invaluable. The tax system is simply too complex to navigate effectively without proper training, and the consequence of mistakes can be extremely costly. There are a number of services available to you to help you manage your tax effectively. As tax only applies to profits there are many non-tax financial services and strategies which can reduce your overall tax exposure. For example, many businesses choose to donate a portion of their profit to charity each year, reducing their tax exposure and generating PR while contributing positively to their community.
Tax accountants are experts in satisfying the requirements for both businesses and individuals including:
Tax accountants are skilled at minimising your exposure to tax so you can maximise your profits and grow your business. These services include:
Bookkeepers assist with more of the day-to-day financial affairs, which includes meeting reporting and record-keeping obligations. Under Australian Law, businesses are required to keep all records for 7 years and may be audited to ensure compliance. The taxation services a bookkeeper can assist you with include:
Your bookkeeper works hand-in-hand with your accountant. The bookkeeper typically handles the nitty-gritty of financial management and record-keeping, while the tax accountant takes the statements and reports generated by the bookkeeper and looks at ways to reduce your tax exposure and take advantage of opportunities to keep more money in your pocket.
Financial planners specialise in helping businesses afford their strategic goals and objectives. A professional financial planner will help you reach your goals by putting together an achievable plan. To do this they assess your current personal and business financial situation and seek to gain an understanding of what you want to get out of you business.
Once they have an understanding of where you are at, they will help put together a plan that utilises the right strategies, products and services for you. Financial planners often have relationships with business lenders, tax accountants and bookkeepers, and can help you to see the big picture behind your various financial activities.
While financial planners are not directly involved in handling your taxation, their input may be valuable to your accountant as your financial strategy will largely determine your forecasts and the opportunities available to you. Some business choose to employ a financial planner, an accountant and a bookkeeper to create a comprehensive financial team, capable of handling everything from taxation, to strategy to ongoing business operations.