Taxhouse provides advice on setting business compliance, operational and financial approaches to tax. We help ensure that sound organisational governance is in place to manage tax risks. We advise you on accurate tax-risk management processes.
We will work alongside you by:
We work closely with corporates, reflecting the importance in the effective operation of the tax system, and, wherever possible, provide certainty of tax outcomes for large complex transactions as they occur. We aim to help and manage corporate affairs by promoting strong corporate governance and a focus on how you can identify and manage tax risks.
Meeting tax obligations takes time and resources, hence why we work with you to enable you to spend more time on developing your business further.
In partnership, you’ll need to submit a tax return both for your business, and an individual return as a partner of the business. This allows you to separate your business expenses and deductions. Some deductions are not available to the partnership, but may be claimed by the partners. Hence, partnership lodges a partnership tax return, to report the partnership’s net income.
The partnership doesn’t pay income tax on the income it earns. Instead, you and each of the partners pay tax on the share of net partnership income they receive.
In addition you as an individual partner need to report on your tax return. So you need to provide:
Taxhouse caters you with setting up you trust account, we help you understand all your tax liabilities associated with managing a trust and its beneficiaries.
Managing and setting up a trust can be complex that require Formal deeds and there is administrative work that must be done each year. Because the trust deed outlines how the trust will operate, it is crucial to get professional advice. Therefore, Taxhouse advise you on the best way to manage your trust to minimise your tax liabilities. If managed correctly, trusts assist to lower down your higher tax rates by distributing the income to the beneficiaries who often are on a much lower, individual tax rate.
Trust You need to maintain and provide us Business records including: books of account (with accounts for each beneficiaries’ capital contribution, drawings and share of profit or loss), minutes of business meetings, and memorandum of decisions reached, especially regarding shares of income and losses in order to provide you the best services and make most of your tax appointment.
We are registered SMSF Auditor and specialised in the provision of SMSF accounting. We understand each client’s SMSF need and categorised their funds as Simple, Standard or Sophisticated based on measures of complexity so that your Superannuation fund thrives.
Taxhouse immensely recognise there are significant efficiencies associated with auditing multiple SMSFs particularly where they have a similar structure for an example similar trust deed and provide enormous outcomes.
We have developed a pricing structure based on the complexity of work required as per annual audit requirements. Accordingly, we offer attractive SMSF audit fee volume discounts to accountants, financial planners and SMSF Administrators with multiple funds which require auditing.
We guide you through the setup process and with our specialist advisors, we can provide you with the investment advice you need. Our advisors can provide advice in the following areas:
Our iconic cloud based accounting system assist in accumulating Salaries and wages information and then to prepare fortnightly and monthly payroll and IT Pay roll for contractors.
We Issue payslips, Prepare PAYG and payment summary reports. We cater our clients with Preparation and lodgement of Instalment Activity Statements, deal with Payroll Taxes and Work cover. We provide myriad services to reinforce employees by designing astonishing remuneration package and Employee benefits system as per the employer’s prerequisite.