Tax Planning

Having an accountant in your corner can relieve some of the stress that comes with end of financial year.

Planning for End of Financial Year

To ensure that you are prepared for the end of financial year, it is important to talk to us early. Time goes so quickly and before you know it, we reach another end to the year and once again there’s that rush to get everything together. We have tools and advice to help ease the stress of tax time, here’s how we can help:

Expense Management
Deduction Entitlements
Profitability Statements
Tax Returns
Accounting system management
BAS submission and ASIC Compliance
Tax Minimisation

How It Works

Just because you have to pay tax doesn’t mean you should pay it in full. We help you find legitimate ways to reduce the amount you are paying in tax.

Income Tax Returns

We help individuals, companies, trusts and self managed super funds prepare and lodge their income tax return. With the right advice and a timely lodgement,  we can help you achieve the best results.

 

Goods and Services Tax (GST)

GST can be efficiently and seamlessly managed throughout the financial year with the preparation of BAS statements. 

Capital Gains Tax

We can provide you with advice on how best to legally reduce the amount of capital gains tax you are required to pay.

Fringe Benefits Tax

Salary sacrificing can be amazing, however you should seek advice to see whether it is right for you. If used incorrectly, it can end up costing you more in the long run.

Frequently Asked Questions

Individual Tax Info

What is the Medicare Levy

The Medicare Levy is a tax Australian residents pay to cover health care charges. Individuals and families with higher incomes who do not have private insurance may end up paying a medicare levy surcharge.

How much tax should I pay
Taxable income Tax on this income
$0 – $18,200 $0
$18,201 – $37,000 19c for each $1 over $18,200
$37,001 – $90,000 $3,572 plus 32.5c for each $1 over $37,000
$90,001 – $180,000 $20,797 plus 37c for each $1 over $90,000
$180,001 and over $54,097 plus 45c for each $1 over $180,000
What are Tax Payer Penalties

If you do not meet your tax obligations, you may face tax payer penalties. These are usually incurred when you do not pay your any tax owed by the due date. The main penalties are General Interest Charge, Shortfall Interest Charge and Failure to Lodge on Time Penalty.

Business Tax Info

Business Activity Statement

Businesses use activity statements to report and pay their tax obligations. This can include GST, pay as you go (PAYG), and fringe benefits tax (FBT).

Do I have to pay my employees Superannuation?

You are required to pay superannuation contributions on behalf of all employees who earn $450 or more per month. This is in addition to their salary and the minimum contribution is 9.5% as of 1st July 2014.

Do I have an employee or a contractor?

Your requirements are different for employees than they are for when you hire contractors. To ensure that you are meeting your obligations, the ATO have a helpful decision tool to help you determine whether you have an employee or a contractor.

Want to Stop Paying Too Much Tax?

Liability limited by a scheme approved under Professional Standards Legislation