Accounting & Taxation
Our tax expertise will ensure that we make all the correct tax claims, minimise tax liabilities and help you avoid unnecessary & unwanted Tax Audits.
Accounting
Accounting Systems Start-up Services
The set up of an appropriate data capture system is critically important as a starting point when you commence a business and especially where you are required to be registered for GST purposes ( Sales/Income threshold greater than $75,000 ).
- We can help by getting the set up right for you with the appropriate software for your needs.
- We can provide initial training to assist you in using the software.
- Various applications are available and we will assist you in the selection.
- Visit MYOB, our preferred software provider, and choose an accounting product suitable for your business needs.
- Xero and Quickbooks are other software options available.
Interim Financial Statements, Cash Flow Reports & Budgets
We can work with you to prepare any of these when and as required by you.
Taxation
Income Tax Returns
We prepare and lodge all types of Income Tax Returns as required for Individuals ( PAYG Employee, Sole Trader and Investor Returns ) and all Business types ( Partnership, Company & Trust ).
We also prepare Income Tax Returns for Self-Managed Superannuation Funds.
BAS & IAS Returns
We can assist you with the preparation and lodgment of your Business & Instalment Activity Statements. The preparation and lodgment of these documents will either be monthly, quarterly or annually depending on your registration requirements.
Electronic lodgment via a Registered Tax Agent will enable you to have automatic 30 day extention to the normal due dates for lodgment and payment ( except for Dec QRT lodgments as all due dates remain as 28th Feb for all lodgers )
Tax Planning Services
Tax Variations ( PAYG Withholding Tax / S1515 )
If you have an Investment Rental Property which results in a substantial annual Net Rental Loss and you would normally recieve the tax benefit by way of a sizeable tax refund at the end of the financial year, when getting your tax return lodged we can prepare and lodge a PAYG Withholding variation on your behalf.
This results in less tax being deducted from your wage during the year, therefore your net wage/salary is greater, which can help support some of the cash flow requirements of maintaining the loan repayment or annual running costs of the property.
We can assist you throughout the year, and especially closer to the end of the financial year, to identify and implement legitimate tax saving/reduction strategies that can legally reduce your tax liability.
Superannuation (SMSF) & Financial Planning
Our network partner JBS Financial Strategists PL offer a wide range of services, and their professional team can provide expertise and advice to those already with a DYI SMSF or those wishing to set one up for the first time.
Self managed super funds
Are you Interested in setting up your own DIY Self Managed Superannuation Fund?
If you would like to discuss the pro's & cons, costs and all aspect associated to the establishment, implementation, compliance and ongoing administration of a Self Managed Super Fund, please call us and we can assist you with this.
OR
Click here - for You Tube Video on the Benefits of SMSF & DYI Funds
Click here - for You Tube Video on DYI Super V's Super Wrap Accounts
OR
Refer to the following seleted ATO publications which can help answer some or all of your questions related to SMSF. Click on the subject Titles for PDF file.
Thinking About a SMSF - NAT72579 PDF
Setting Up a SMSF - NAT71923 PDF
How Your SMSF is Regulated - NAT71454 PDF
SMSF Statistics
The number of Australians choosing to manage their own super through a self managed super fund (SMSF) is larger than you might think. As at June 2012 there were over 478,000 SMSFs with a total of over 900,000 members, with $439 Billions in Funds under management.
Starting a DIY SMSF
Establishing an SMSF can provide an alternative retirement saving vehicle and can give you greater control and flexibility. The ability to choose your own strategy and investments, as well as the tax benefits of superannuation, make SMSFs a unique investment tool.
Before you decide to establish an SMSF, it’s important to consider a few key issues:
- Financially, SMSFs are generally only worth establishing if you have a significant level of assets as there are cheaper options, such as establishing a regular personal superannuation account
- The administration and record-keeping of an SMSF is onerous, extensive and rigorously monitored by the Australian Taxation Office, although it is possible to get assistance with this from professional administration providers
- All trustees are legally liable for the fund.
SMSF & FINANCIAL ADVISOR
SMSFs can be complex, but an authorized and specialist Financial Planner is dedicated to making them simple to understand. If you would like to find out whether an SMSF may be appropriate for you, why not ask us about the network partners who may be able to help you out.
- Establishment of the Fund including;
- Provision for Super Trust Deeds
- Set up of Corporate or Individual Trustee's
- Completion and Lodgment of Initial Compliance Documents
- Detailed Investment Stratergy
- Assist in Rollover of Fund Monies to DIY Fund from other Funds
- Investment Guidelines
- Assisting in the drafting of Binding Death Benefit Nominations
- Pension Strategies and Minutes
- Transition to Retirement Strategies
- Compliance Documents for ongoing maintenance of the Fund
- Trustee Responsibilities
- Administration
- Financial reports up to Audit Stage