Better Business Advice on Taxation

Small business tax is a constantly changing landscape and it is important that you partner with an accountant who is up to date with these changes. Our accountants are here to assist you in maximising your small business incentives, taxation outcomes, and ensuring that your business is compliant.

Personal Income Tax Returns

Using a professional tax agent to prepare your tax return can maximise deductions and tax offsets, whilst helping to avoid costly mistakes that could lead to audit activity.

Whether you are a salary and wage earner, an investor in the property or share market, or a self funded retiree, the team at Better Business Advice can help you prepare and lodge your annual income tax return and ensure that you receive the best outcome available to you.

The advisers at Better Business Advice can also assist with the more complicated areas of personal tax including Capital Gains Tax and Redundancies. These isolated events can have a significant impact on your taxation obligations and possibly other obligations and entitlements such as Child Support, Medicare Levy Surcharge, and Family Assistance. It is often crucial that you get advice prior to the end of the financial year to assess whether any tax planning opportunities are available to you.

Business Financial Statements & Income Tax Preparation

The accountants at Better Business Advice are able to prepare the Annual Financial Statements and Income Tax Returns for all entities including Private Companies, Trusts, Partnerships, SMSF Superannuation Funds and Sole Traders.

Better Business Advice also offers the following accounting services to assist clients who want a more frequent review of their business’s performance:

  • Preparation of Interim Financial Statements
  • Monthly and Quarterly Accounting
  • Budgets and Cash Flow Forecasts

GST and Other Taxes

The introduction of GST in Australia saw many small businesses become tax collectors for the ATO. We can assist in the preparation and lodgement of your monthly or quarterly Business or Instalment Activity Statements. The ATO offer lodgement and payment extensions when using an agent to lodge these returns.

Small businesses often have obligations under numerous taxation regimes at both Federal and State levels.

Fringe Benefits Tax is tax payable on certain benefits that you may provide to your employees such as cars and entertainment benefits. Other taxes such as Payroll Tax and Stamp Duties may also apply to your business situation.

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