Tax Agent | Tax Returns | Tax Accountant Bankstown
Local Small Business Tax Accountant | Tax Agent in Bankstown
Tax planning advice from a local industry experienced professional.
Forward planning is the best way to ensure you make calculated moves in the ‘money game’ of life. Knowing what structure you or your business should be set up in, what expenses you should claim this year (or next), what purchases should be made (or not), how to apportion dividends – the list goes on and on – and this list is one of the key factors allowing successful individuals and businesses to become more and more successful.
So, now I’ve revealed the big secret, why aren’t you engaging a tax planning adviser for your future?
I’m sure you don’t like paying unnecessary taxes, being unable to claim expenses, or the uncertainty of whether your assets are at risk or not.
Let me unveil another secret to you: it’s not expensive to get tax planning advice. When you compare the cost of seeing an expert, like my team here at ACCESS TAX & ACCOUNTING, to the money you save (and get back) each year – you’ll kick yourself for not doing it sooner!
We’re dedicated to our clients – they’re the reason we exist – so we spend all our waking hours researching and looking for the best ways to decrease tax obligations, whether it’s for business or personal.
Our efforts not only make our clients happy, but oftentimes place them in a better financial situation than they were before, which is a top priority for us.
So whether you simply need regular tax planning advice to prepare for your future or a business mentor to help you ACCESS TAX & ACCOUNTING are here to help you. Our approach to your success is to get to understand you and your business, and roll out the best plan to hit every one of your targets!
Our expert team is located at Suite 26/1-5 Jacobs Street BANKSTOWNS.
Be sure to call us on 0404 164 077 to make an appointment to discuss your tax planning needs!
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Tax Accounting not the world’s most inviting of subjects, but accounting is a fundamental process for any society, even if that society was not money-based at that time in history: people still had to account for all their items: where are they, who owns them, what value do they represent. Same as for money: where is it, who owns it and what values do the numbers represent.
Accounting whether for tax or otherwise enables us to have a detailed appreciation of a situation, at that time. Companies and corporations, and indeed each of us as individuals can gain an accurate understanding of our position and then use that information, along with historical information, to better plan our activities for the future; whether that be for the family, our business or a large multi-national corporation.
Accounting your numbers can reveal truths, sometimes unpleasant truths, about a business, corporation or individual. But those truths can then be used as a basis for correcting the problem. A good tax accountant is worth, perhaps not their weight in gold (I have met some very large tax accountants!), but certainly every penny you spend on them.
All of us here have to file our tax return Bankstown. I doubt if anyone enjoys doing it, particularly as the information is prepared for use by government agencies and their sometimes horrendously complex forms and reporting procedures can be very daunting for the uninitiated. And that is where we at Access Tax can help. We like to think that our relationship with our clients is one of a partnership tax Bankstown – we are local after all!
Our three main areas of expertise are:
1. Tax Returns and Advice
With decades of combined experience in accounting and taxation, we know how to maximise your return. Tax Accountant Bankstown!
2. Business Consulting
Our certified expert tax specialists provide all types of personal and business accounting advice. Expert Tax Solutions Bankstown!
3. Tax Advice
We provide a wide range of tax advice and services to assist in making the best financial decisions at tax time. Minimise your Company Tax Bankstown!
So whether you are a Sole Trader Tax Bankstown or are having problems with your GST Tax Bankstown we are here to offer you the benefit of our years of experience and of the essential ongoing research required by all competent tax accountants to keep up-to-date with the many and ever changing legal requirements.
While we are talking of Sole Traders, we would just like to point out that if you are an entrepreneur and just starting to construct your business idea, the earlier you get a tax accountant Bankstown involved, the better. The Australian government’s structure for sole traders offers the following benefits for the keen new businessperson (quoted from their website):
“Key Aspects of a Sole Trader Structure
- Is simple to set up and operate.
- Gives you full control of your assets and business decisions.
- Requires fewer reporting requirements and is generally a low-cost structure.
- Allows you to use your individual Tax File Number (TFN) to lodge tax returns.
- Has unlimited liability – all your personal assets are at risk if things go wrong. Your assets can be seized to recover a debt.
- Any losses incurred by your business activities may be offset against other income earned (such as your investment income or wages), subject to certain conditions.
- Doesn’t require a separate business bank account, unlike a company structure. Although it is recommended you have a separate bank account so you can easily keep track of your business income and expenditure. You must keep financial records for at least 5 years.
- As the business owner, you’re not considered an ’employee’ of the business. You should pay yourself, which is usually a distribution of your profit, but this is not considered ‘wages’ for tax purposes.
- If you’re a business owner without employees, there’s no obligation to pay payroll tax, superannuation contributions or workers’ compensation insurance on income you draw from the business. You can choose to make voluntary superannuation contributions to yourself though, to help you build up your superannuation.
- You can employ people to help you run your business. There are compulsory obligations that you must comply with, such as workers’ compensation insurance and superannuation contributions.
- It’s relatively easy to change your business structure if the business grows, or if you wish to wind things up and close your business.
- You can’t split business profits or losses made with family members and you’re personally liable to pay tax on all the income derived.“
Before deciding on your business structure, it is important to seek professional advice from a business adviser, solicitor or accountant to ensure the structure you choose meets your personal circumstances and business objectives.”
Quoted from the Australian Government’s website “Sole Trader” webpage.
So come and see us today and let our friendly team give you the advice and expert tax solutions Bankstown you need to make that Partnership arrangement and business dream come true. We have a huge and local wealth of experience, one of the benefits of working as a tax accountant Bankstown is that we see all manner of business enterprises, and therefore all manner of business problems. We welcome very much the chance to work with you to create innovative solutions for your Partnership and your business.
Why not partner-up with us and let your business benefit from our experience and expertise as well as your own?
Services that we offer are:
Profit & Loss:
You don’t need to fear your P&L Statements – running a small business or are self-employed, we can help you understand and improve your business spending to help increase profits. Let us do the balancing act while you get on with business.
Business Finance Management:
Understanding your business finances – work with our team to improve your financial business decisions be it Lease, Rental or Commercial Hire Purchase instruments.
Financial Services Comparisons:
Ensure you’re getting the best deal – We can help you compare financial offerings from any number of financial institutions to ensure you are getting the best loan for your financial and tax requirements.
It’s a jungle out there, a jungle we know very well!
So where did this accounting thing come from in the first place?
A little thought quickly shows that accounting is simply a fundamental part of life. Whether you were a commander of an army and you needed to know (really needed!) how many troops, guns, horses, cannons or spears you had, or whether you are now the CEO of a vast multi-national corporation examining the effect of your latest marketing strategy on your profit and loss statement, you needed an accountant.
And since the advent of governments and taxation, you now need a good tax accountant.
Accounting began in some form or another between ten and fifteen thousand years ago. Indeed it may be argued that accounting developed at the same time as writing.
An example of this can be taken from Mesopotamia around ten thousand years ago. Mesopotamians used small clay counters for keeping track of items, with each counter representing particular quantities of, for example, food, drink, clothing, and even the available labour. While this worked well in the beginning, over time the clay counters became more and more complex with more and more delicate and intricate markings.
One day somebody realised that using the counters to print their value (their meaning) on to parchment using ink was a much better solution and finally the prints replaced the counters (and thus the first spreadsheets appeared!). It is understood by many in academia that accounting and writing evolved side-by-side in this way. Some of the oldest writings ever found are lists of wine or beer or grain, all accounted for!
As the years went by and life became more complex, with international trading opened up by the early European empires, the development of banking, both domestic and international in Europe, the coming of the industrial revolution, all put an increasingly complex strain on the requirement to document all assets and monies: the world of accountancy developed in pace with the development of humans.
The Mesopotamians, the Babylonians, Assyrians, Sumerians and the Egyptians all had sophisticated accounting systems in place to control and maintain their empires. With the coming together of peoples into cities and large centres of trading it became imperative to be able to plan ahead to avoid food shortages and shortages of tradable services and goods. Accurate information became crucial to the survival of kingdoms, countries and empires. Look at Germany in the 1930s where the breakdown of the financial system led to rampant inflation and eventually the greatest war conflagration the world had every seen.
And therein lies the true power of accounting: it gives you the ability to manage the future. With accurate information gathered over time it is possible to predict what the future will bring and to plan for those events.
An Italian named Luca Pacioli is today generally thought to be “The Father of Accounting and Bookkeeping”. He was a mathematician, a Franciscan friar and worked together with Leonardo da Vinci. He was born in 1447 in a small town called Sansepolcro in the then Republic of Florence (in today’s Italy), just on the border between today’s Tuscany and Umbria. He is credited as being the first person to publish a work on double-entry bookkeeping, which was then adopted across Italy and ultimately across the world. It is thought he went home to Sansepolcro after many exciting adventures with Leonardo da Vinci, where he died at about the age of 70 in 1517.
The modern profession of the chartered accountant is generally considered to have originated in Scotland in the nineteenth century. The solicitors associations that sprang up during the 1800s often also had accountants as members, who offered their accounting services to clients.
Not so long ago in what could be called the “early modern accounting period” the professions accounting methodology had similarities to today’s forensic accounting. Local professional bodies in England merged to form the Institute of Chartered Accountants in England and Wales in 1880 which marked the formalisation of the profession.
As the industrial revolution progressed the large corporations required ever more sophisticated systems that addressed new and external sources of their corporation’s finance like their shareholders, their own investments, corporate costs, tax liabilities and a whole host of other critical issues. All this complex web of data was needed to be able accurately to manage and predict profits. This crucial corporate activity demanded dedicated individuals with professional qualifications and who had highly specialised knowledge. They also needed very much to be trustworthy as they held enormous financial responsibility.
Accountants, whether tax accountants or not, constitute a massive industry in their own right and provide the world’s businesses and individuals with an absolutely fundamental service, and have done so for thousands of years.
So next time you have to think about your tax return Bankstown, remember . . .
Love ’em or hate ’em, you have to have accountants . . . count on it!
Handled our business tax with professionalism and maximised our return. It was a pleasure dealing with this team of experts.Rabbie Z. 24/02/2017
Excellent and professional workKamal A. 16/09/2017
Brianne J. 02/05/2017