Dotting your i’s and crossing your tax compliance t’s is an obligatory business requirement for everyone, no matter the size of your operation. Unless you love reading ATO articles in your spare time (we’ll hazard a guess that’s not the case), this is likely the first thing you’ll outsource to us. The ultimate in boring-accounting-things-that-you-gotta-take-care-of. We’ll take one for the team!
Complying with tax laws and regulations
This is arguably one of the most important roles we play for clients. Being non compliant can land you in some seriously hot ATO water – something we all want to avoid. And we *can* avoid it – pretty easily – because we’ve got these things called accounting degrees. Huh, handy.
Paying tax on time
This seems like a pretty obvious one, but paying tax on time is easily forgotten. You get the bill, you think “hmm I really don’t want to part ways with that cash today, it’s a next week problem” and then your to-do list fills up again, and that transfer is at the bottom of it. We make sure all your tax obligations are calculated and lodged by their due dates.
Paying the correct amount of tax
A DIY tax bill might be okay when you’re younger or have a very straightforward individual return to sort out, but as soon as you become a business owner there’s all sorts of tricks of the trade to be aware of. Don’t pay more tax than you need to, and don’t pay less than you owe.
Why do compliance and tax laws exist?
Whilst we, like the rest of you, like to have a whinge now and again about tax and what it means for business. It’s important to remember that tax is really what makes our Australian world go round. Your tax bill funds our healthcare system among many, many other things.
The tax system can be complicated
There’s a reason we study for 3 years and then a couple more to nab a CPA or CA. The Australian tax system is very complicated. There are all kinds of details and niche areas that we need to be able to sift through and apply for each client. No two tax scenarios are the same.
Compliance and tax laws are always changing
When we say always changing… we mean every year, sometimes every month. Compliance and tax is an evolving beast and staying on top of the law is enough to keep us all busy for years to come. It’s our job to understand these changes so you don’t have to. It’s about saving your time, and your money.
We provide compliance and taxation services for the following structures:
- Corporate taxation (including sole traders, partnerships, trusts, companies)
- Individual taxation
- Taxation of trusts
- Superannuation taxation
- Partnership taxation
- Fringe benefits taxation
- Withholding taxes and operational taxes
- Financial statement preparation
- Payroll services
- Fuel tax credit claims
- Tax file number applications and other tax compliance matters