Accountants in Dee Why

We prepare individual tax returns daily and can pick up things you may have missed, including deductions and relevant eligible rebates, offsets, and credits. As a Registered Tax Agent, we can negotiate payment plans, extend your lodgement due date from October to May the following year, and ensure you stay on the right side of the Australian Taxation Office (ATO).

Let us take the stress out of tax time by helping you lodge your tax return.

The simplest way to run a business is as a sole trader. All you need to get started is an Australian Business Number (ABN). Sole traders are required to lodge an individual tax return and are taxed at the same rate as an individual. You are required to declare your business income or loss as part of your personal income tax return. Unlike an employee's individual tax return, there are additional details you need to be aware of that are part of the process of lodging a tax return as a sole trader.

If you are starting a business, you have many options when it comes to how you want to run your business. Operating as a sole trader is generally the cheapest and easiest option, however there are several key benefits to operating a business via a company structure.

A company structure is generally more complex than other types of business structures and as a result company tax returns can be more complicated. A company is a separate legal entity and is required to lodge an income tax return. If you are running a business as a sole trader, it might be time to consider forming a company structure.

Of all the business structures, trusts offer the most flexibility. In addition to being used to operate a business, trusts can also protect and preserve your assets, customise how wealth is distributed, and address family dynamics, such as divorce or blended families. A trust can also employ people.

Income tax is not paid by the trust as an entity but is paid by beneficiaries. Goods and Services Tax (GST) may be applicable. There may be tax planning, asset protection, and estate planning considerations. A trust requires an official Trust Deed to be prepared and executed. We can assist with the setup of a trust.

Self Managed Superannuation Funds have many benefits; they offer the greatest amount of control and flexibility regarding investment options compared with other kinds of managed funds. However, setting up and operating a Self Managed Super Fund is a major financial decision, and it requires your time, skills, and a significant amount of capital given the annual costs (financial advice, accounting, and auditing) associated with maintaining the fund and ensuring it complies with all the legal and tax requirements. Self Managed Super Funds can invest in stocks of listed and unlisted public companies as well as privately-owned companies. They can also invest in residential and commercial property.