BUSINESS TAX ACCOUNTING
Financial Accounting for Business
If you’re a Small-to-Medium Enterprise as a Sole Trader, Company, Trust or Partnership, or Not-For-Profit you need to know your numbers.
In addition to your Profit and Loss Statements, when it comes to business tax planning there is a lot to consider, including Pay As You Go Tax, capital allowances, Fringe Benefits Tax, Corporate Income Tax, Imputation and Superannuation obligations.
Don’t wait until the tax man knocks on your door. If you feel disorganised, confused, overwhelmed or need some professional advice to ensure your business is tax compliant, please reach out.
Our team has 20 years’ experience in financial accounting and business development. We’ll work with you to ensure your business systems have the right structure and strategies to maximise your profitability, minimise your tax and give you peace of mind.
We can help
Get peace of mind knowing a qualified business accountant is in your corner.
Financial Accounting
See beyond the Profit and Loss and partner with an accountant who can look for ways to improve your business performance for sustained financial growth.
Operational Advice
Get the right advice for your unique circumstances. Let us help you achieve efficiencies across various operational systems, policies, and procedures.
Business Planning
Don’t leave it to chance. Know where you stand today, and partner with an experienced accountant to plan for short and long-term business success.
Tax Minimisation
From depreciating assets, to workers’ salaries, to prepaid expenses, know what you can claim and when. We cut through the tax mumbo-jumbo to give you full clarity.
Grow your business, drive profitability
and reduce tax with a registered, accredited business tax specialist.
FREQUENTLY ASKED QUESTIONS
I already have a bookkeeper. Do I need an Accountant too?
We’d recommend it. A competent bookkeeper is worth their weight in gold. They can keep your daily business expenses in check and prepare documentation you will need to lodge your Business Activity Statements (BAS) and Company Tax as required.
A Financial Accountant can lodge your documentation and provide broader strategies regarding business structure for asset protection and tax minimisation as well as manage ATO audits and financial disputes.
What tax deductions can I claim?
It depends on your business structure. The tax laws for Sole Traders, Partnerships, Trusts and Companies are different, so it’s wise to seek the advice of a knowledgeable business tax accountant.
You may be able to claim a portion or all of the expense such as business vehicles, equipment, repairs and maintenance, business travel, depreciating assets and workers’ salaries, wages and super contributions.
Contact our team today to make an appointment and we can discuss your unique situation.
What business offsets and rebates can I claim?
There are a range of tax concessions, offsets and rebates available if your business is eligible. Your eligibility can depend on your business structure, such as a small business or a primary producer, as well as your turnover.
Before applying for a tax concession, offset or rebate, we recommend talking to our friendly team. We can step you through the process and ensure you get every concession you’re entitled to.
My business has made a loss this year, do I still need to pay tax?
For various reasons, some businesses will make a loss. Depending on your unique situation, you may be able to offset your business losses against other types of accessible income or defer the loss or carry it forward and offset it when you make a profit.
To know what’s right for your business, talk to our friendly team today and we can recommend the best strategy.