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Business Tax and Accounting

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Taxhouse is taking care of business during taxes. As Australia’s leading taxation experts, we’re on top of every tax change that can shape up your small business. Let us take tax time off your desk, so you can get on with business. If your business is set up as a sole trader or partnership, we can help you.



Small business, big potential

For small business owners, we’re much more than your one stop tax shop. We offer additional services to keep your finances smooth. Beyond small business tax returns, we can help you control your cash flow with professional bookkeeping and BAS services. We can help you maximise the $20,000 instant asset write off for small businesses. Our range of services are aimed at managing your money all year round.



Small businesses can claim:

  • Instant deduction of assets costing less than $20,000.
  • Reduced corporate tax rate of 27.5% for companies or a 8% discount up to $1,000 for unincorporated businesses
  • Simpler trading stock rules, including choosing not to do a stocktake if you estimate that your trading stock's value has not changed by more than $5,000 over the year.
  • Instant deductions for certain prepaid business expenses costing less than $1,000
  • Instantaneous deductions for certain business start-up costs
  • Exemption or reduction on capital gains tax from sales of business, based on ownership, period and age

* Prices may vary by office location & terms and conditions apply



Maximum refund guarantee

If we’ve made an error that entitles you to a larger refund, we'll refund your preparation fee and file an amendment with the ATO, up to 2 years after original notice of assessment. We’ve have to make sure that we catch up with all the claims to get you ahead.



Assistance, anytime

Our year-round support means we’re fascinated by numbers both at tax time and beyond. We’re present 365 days to ensure we can do better for your business by adjusting to the changes in the small business landscape with tax-saving tips, amendments and more.



Upfront guaranteed pricing

Being a business owner means your funds are already allocated without much to give. Before preparing your return, we'll tell you exactly how much it's going to cost; no added extras. The best part is our fees are tax deductible.



Satisfaction guarantee

We do everything we can to get to know your business so we can make sure we include all the offsets and deductions you deserve. If our services fall short , simply stop us from lodging your return at no cost to you.



Business Registration / Business Start-up

Let us help you turn your business idea into a reality.
If you have a good idea for a new business venture but don't have expertise in the legal or financial aspects of creating a new business, we can help you:


  • Decide on the most suitable structure for your business - sole trader, partnership, or limited company
  • Prepare a business plan, cash-flow projections, budgets, and trading forecasts
  • Assess your finance requirements, advise on the best sources of finance, and draw up the necessary proposals
  • Establish a good working relationship with your bank
  • Register for an Australian Business Number with the ATO
  • Complete registration procedures with Australian Securities and Investments Commission
  • Deal with company secretarial issues
  • Set up a recording system for your internal use and for complying with statutory requirements

Depending upon the nature of the business, you may opt for business registration. We will help you get the Australian Business Number (ABN), AUSkey and tax registration.


  • ABN registration for individuals (sole traders).
  • ABN registration for companies, partnerships, trust and other organisations.
  • Add a new business account.

GST:

We help you reg ister for goods and services tax (GST) if you run a business or non-profit organisation based upon the GST turnover threshold.


PAYG:

We help you with registeration for Pay as you go (PAYG) withholding. You may need to register for fringe benefits tax if you provide fringe benefits. You will have to pay super for your eligible employees but you don't need to register for super.


Fringe Benefits Tax:

We recommend you to register for Fringe benefits tax as soon as you decide to provide benefits to your employees.

As a registered BAS agent we provide business activity statement services (BAS services) such as giving taxpayers advice about their obligations under a BAS provision, preparing and lodging approved forms about a taxpayer's liabilities, obligations or entitlements under a BAS provision, transacting with the ATO on behalf of a taxpayer in relation to the taxpayer's obligations under a BAS provision.


As a business you use an activity statement to:


  • Report and Pay the GST, your business has collected.
  • Claim GST Credits.

We prepare BAS personalised to each business or individual. We make activity statements to report and pay a number of tax obligations, including GST, pay as you go (PAYG) instalments, PAYG withholding and fringe benefits tax. We also help individuals who need to pay quarterly PAYG instalments also use activity statements. We help you lodge BAS on time before the due date to avaoid interest and penalties.

Our services are customized to fit the needs of our clients and their budgets. We have cost effective, monthly and hourly rate pricing packages available. Whether you're looking for a turnkey outsourced Bookkeeping department, on-call full services for bookkeeping to help or anything else, we'll provide the customized accounting services you need without the overhead of a regular employee or the hourly rates of a firm.


We look after your invoicing, paying and record-keeping. Some of common business activities, we perform are:


  • issuing invoices and paying your own bills (sole traders).
  • making wages and super payments
  • preparing cash books (paper or electronic)
  • preparing activity statements
  • preparing tax returns
  • preparing financial accounts – for example, profit and loss statements and balance sheets.

We provide a range of accounting services for our clients and take the responsibility for tasks and functions such as:


  • End to End Payroll
  • Data Entry
  • Petty Cash
  • Record Keeping
  • Reconciling Bank Accounts
  • Accounts Payable and Receivable

As a business owner you will have to fill the important role as bookkeeper. While bookkeeping is a statutory requirement, knowing your numbers is a critical part of running a successful business. In fact, up to date records lets you make informed business decisions and do year-end tax planning.


Your choice of accounting software is a very important decision and the software is one of the foundation stones in your business 'wall'. When it comes to accounting software, one size certainly doesn't fit all businesses. When recommending the most appropriate accounting software program for clients we always address these three key questions:


  • 1. What does your business need?
  •    Payroll, inventory, debtors, creditors, invoicing or a full blown general ledger that lets you produce your own financial statements?
  • 2. What is your level of accounting skill?
  • 3. Do you want to use a desktop program or cloud based solution?

As such, your choice of accounting software will depend on your business needs and level of accounting skill. For this reason we support a number of programs including Cashflow Manager, MYOB, Reckon (QuickBooks) and the cloud based solutions Xero (pronounced zero) and Saasu.

All too often we inherit clients who are using the wrong software in their business. This creates frustration and additional costs ,for that reason, we also offer you training to use the software of choice.

In some instances you might be too busy to juggle the bookkeeping function so we also offer you a full bookkeeping service. We can handle the record keeping so you can spend more time working ON your business and your marketing. Alternatively, if you happen to appoint an external bookkeeper we are happy to liaise and work with them.

We keep your business records by law generally for a period of five years after they are prepared, obtained or the transaction is completed, whichever occurs latest and in a form that we can access and understand in order to work out the tax our clients are liable to pay.


By keeping your records, we can help you achieve the following:

  • Complete activity statements, income tax returns and fringe benefits tax returns.
  • Provide written evidence of tax related transactions.
  • Reduce the risk of tax audits and adjustments.
  • Improve communication with ATO.
  • Resolve issues relating to disputed assessments or adjustments.
  • Avoid exposure to penalties.

Some records may need to be kept for longer periods, such as records relating to capital gains tax events. However, shorter record keeping periods apply for some records of individual clients with simple tax affairs.

Business Income Tax/ Business Tax Planning

We believe clients not only want to grow their business but they also want to grow their wealth and protect their assets. Tax planning is central to increase your money and our strategic alliance with a leading financial planning group, we can service your needs.


We give advice and services on all tax and super issues, including lodging your tax returns. We provide advice and services on the following tax and super issues:


  • GST
  • Fuel Tax
  • Luxury Car Tax
  • Wine Equalisation Tax
  • Fringe Benefits Tax
  • Pay as you go (PAYG) withholding
  • PAYG instalments
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