Frequently Asked Questions
We offer a comprehensive range of services including accounting and advisory, tax planning, financial reporting, bookkeeping, business setup, and more. Visit our [Services Page] for a detailed list.
Our staff members have experience in many industries in Australia, including Medical Services, Construction & Trade Services, Agriculture, Retail and Self-Managed Superannuation. We conduct an initial meeting with you free of charge for you to determine if our service offering is a suitable fit for your business.
Tax returns are usually due for lodgement by 31 October each year.
However, when you engage a registered tax agent such as us, you will be entitled to ATO lodgement extensions in most circumstances. Tax returns for a financial year lodged via a Tax Agent are generally due for lodgement on 31 March or 15 May following the financial year end.
We generally charge on an hourly basis with our charge out rates highlighted in our engagement letter. Will also offer a fixed fee arrangement for Clients where the exact scope of the engagement can be determined.
Yes, you can prepare and lodge your tax returns yourself. However, business and SMSF tax returns are complex with mistakes or omissions leading to audits and costly penalties and interest charges.
Legal tax minimisation strategies include maximising deductions, taking advantage of tax offsets and rebates, using small business
tax concessions, structuring your business efficiently, and ensuring that you claim all eligible expenses. The most important thing is to be compliant with all laws and regulations by keeping good records and ensuring your tax returns
are prepared by a qualified tax agent.
Most SME businesses in Australia use XERO or MYOB as their accounting software. Our Staff have many years of experience using both applications as well as many others. We can assist your business regardless of which accounting software package you use. We can also assist determine the most appropriate accounting software for your business.
The process of changing Accountants is relatively simple. Depending on your circumstances and business structure we will assist you the process on a step by step basis.
You should keep records of income, expenses, employee wages, superannuation contributions, asset acquisitions and any other financial transactions that affect your business. We suggest these records should be kept for at least seven years.
Generally speaking, a bookkeeper handles the day-to-day financial transactions of a business, such as recording sales, processing invoices, bills and employee payroll, and reconciling bank statements. An Accountant, on the other hand, provides higher- level financial analysis, prepares financial statements and income tax returns, and offers strategic advice to the business owners.
Businesses with an annual turnover (actual or projected) of $75,000 or more must register for GST. You should register for GST within 21 days of your business reaching or exceeding the $75,000 turnover threshold. It is beneficial for some
businesses to elect to register for GST even if their turnover does not exceed
$75,000.
Yes, we can assist you identifying opportunities for revenue growth and profitability improvements as well as cash flow management, budgeting, forecasting and advising on business structure, compliance issues, and strategy.
