- TAX RETURN
- Preparation and lodgement of tax returns – we will maximize tax savings in preparing returns
- NON RESIDENT TAX PAYERS CONSULTATION
- If you are a non resident taxpayer for Australia, you may need to consider the tax implications for your overseas income. We can assist you in this.
- FINANCIAL REPORT & TAX RETURNS
- Preparation of financial report for all types of businesses such as sole trader, company, trust and partnership.
- Preparation of financial reports for non profit organizations.
- Preparation and lodgement of income tax return for all types of business.
- BUSINESS ACTIVITY STATEMENT
- Preparation and lodgement of business activity statements. We can also train the business owner to prepare his/her own business activity statement.
- BOOKKEEPING SERVICES AND ACCOUNTING SOFTWARE TRAINING
- We are MYOB, QuickBooks and XERO partners. Our highly trained bookkeeper can provide you with high quality services and training.
STARTING A BUSINESS
- INCORPORATION AND STRUCTURING A BUSINESS
- When you structure your business, you will need to consider the risk involved, tax implications and capital gain. We can assist you deciding the best suitable structure for your new business.
We have summarised the process for incorporation below
- 1First Discussion
- A “Company” may not be the most appropriate business structure for your circumstance. We will consider the most suitable business structure by considering all different scerarios. If a “Company” is the best structure for you, we will proceed to 2.
- 2If a Company is the best structure…
- We will organize a company setup for you. Note that an Australian resident company needs at least one Australian resident director.
- 3Company is ready for you
- Your company is ready for you!
- 4What is next?
- The new company needs a tax file number (TFN), and Australian Business Number (ABN). You may need to register for GST and PAYG withholding tax. You can now open a business bank account. We can discuss bookkeeping and other matters if required.
- 5What is required for “Companies” in general?
- A company needs to pay an annual fee to the Australian Securities and Investments Commission (ASIC) each year. A company is also required to lodge an annual income tax return to the Australian Taxation Office. In the case of a “dormant company”, it still has to report to the ATO that the company has not required lodging a tax return.
- A company with more than $75,000 annual turnover will have to register for GST and lodge business activity statement. If the company has employees, it has to register for PAYG withholding tax from their wages and pay minimum superannuation.