TAX RETURNS
Help! My business tax return is overdue! What is your turnaround?
This really depends on what information you have ready. We understand the pressure of an overdue tax return and will work as quickly as possible to complete it.
Our accounting aims to prepare the highest quality return and reduce your tax . If you have all of the information at hand and can quickly answer our questions, we can usually sort it out within a few weeks.
This really depends on what information you have ready. We understand the pressure of an overdue tax return and will work as quickly as possible to complete it.
Our accounting aims to prepare the highest quality return and reduce your tax . If you have all of the information at hand and can quickly answer our questions, we can usually sort it out within a few weeks.
What records do you require to prepare my tax return?
Don’t worry - we have an end-of-financial-year checklist designed for your business structure which our team will happily send to you at the right time.
If you store your data electronically (which we recommend), we will need access to it. If you have a cloud accounting package, such as Xero or MYOB, you can provide us with access to your data directly from the software.
We generally need a copy of your bank statement at June 30 to check that it all balances. We will also need copies of any new loan documents and large asset purchases, if applicable.
Don’t worry - we have an end-of-financial-year checklist designed for your business structure which our team will happily send to you at the right time.
If you store your data electronically (which we recommend), we will need access to it. If you have a cloud accounting package, such as Xero or MYOB, you can provide us with access to your data directly from the software.
We generally need a copy of your bank statement at June 30 to check that it all balances. We will also need copies of any new loan documents and large asset purchases, if applicable.
How much do you charge for a tax return?
No two businesses are the same. Each has its own specific needs and obligations, so we take a detailed look and may have some questions.
Generally speaking, a sole trader tax return might cost between $500 to $1000 (plus GST) and a company/trust return will be $1500 - $4000 (plus GST).
It all depends on how well your books are kept, the number of employees, if you have payroll tax, whether you are GST-registered, whether you need a Fringe Benefits Tax return, and whether your superannuation and other obligations are up to date.
Your returns may be simple or complex. It all depends on your business.
No two businesses are the same. Each has its own specific needs and obligations, so we take a detailed look and may have some questions.
Generally speaking, a sole trader tax return might cost between $500 to $1000 (plus GST) and a company/trust return will be $1500 - $4000 (plus GST).
It all depends on how well your books are kept, the number of employees, if you have payroll tax, whether you are GST-registered, whether you need a Fringe Benefits Tax return, and whether your superannuation and other obligations are up to date.
Your returns may be simple or complex. It all depends on your business.
STARTUP BUSINESSES
I'm new to small business. Can you help me?
We sure can. We can help you set up the correct business structure, a system to manage your bookkeeping and financial management and provide everything from software training to performance advice.
We can register you for GST and, if you have employees, help manage your payroll and superannuation obligations and answer any question you have about tax deductions.
If you want to set a budget or track your finances, we can help you with that too.
We sure can. We can help you set up the correct business structure, a system to manage your bookkeeping and financial management and provide everything from software training to performance advice.
We can register you for GST and, if you have employees, help manage your payroll and superannuation obligations and answer any question you have about tax deductions.
If you want to set a budget or track your finances, we can help you with that too.
What's the best business structure for me?
That really depends on you and your unique business situation.
We have a specialist business structure advice service that is specifically designed to help you consider your options.
It takes about an hour to walk you through the options for you to decide which structure works best for you: one that protects your assets, gives you the best tax outcomes, makes sense for your future plans and keeps your investors happy.
That really depends on you and your unique business situation.
We have a specialist business structure advice service that is specifically designed to help you consider your options.
It takes about an hour to walk you through the options for you to decide which structure works best for you: one that protects your assets, gives you the best tax outcomes, makes sense for your future plans and keeps your investors happy.
ACCOUNTING
How can I keep my accounting fees down?
Several things:
Several things:
- Automate any processes you can to save time and effort.
- Use accounting software, especially cloud-based software like Xero, to save time and provide better access to your data.
- Hire a professional bookkeeper who can easily and efficiently keep your finances in order.
- Seek advice before big purchases or large financial decisions or changes. This may prevent costly mistakes.
What is the best way to keep my records?
Electronically. It saves you and us both time and money. If you are GST registered, it’s critical to store your records electronically.
We recommend the use of an accounting package such as Xero, which we can train you to use. It will save you a lot of time and effort.
Talk to one of our consultants to find out what Xero can do for you and your business.
Electronically. It saves you and us both time and money. If you are GST registered, it’s critical to store your records electronically.
We recommend the use of an accounting package such as Xero, which we can train you to use. It will save you a lot of time and effort.
Talk to one of our consultants to find out what Xero can do for you and your business.
I'm not based in Perth. Can you still help me with my tax return and other financial needs?
Absolutely. Thanks to the wonders of cloud accounting, your accounts are visible in real-time from anywhere.
As long as you have an internet connection, we can help you with your Australian accounting and taxation needs, no matter where you are.
We currently have clients in Perth, regional Western Australia, Queensland, and New South Wales.
Absolutely. Thanks to the wonders of cloud accounting, your accounts are visible in real-time from anywhere.
As long as you have an internet connection, we can help you with your Australian accounting and taxation needs, no matter where you are.
We currently have clients in Perth, regional Western Australia, Queensland, and New South Wales.
Which accounting software package is best for me?
No two businesses are alike and no cloud software is exactly the same.
Most of our clients use Xero or MYOB and some use Reckon. One of our experts would be happy to talk you through the benefits of each software solution.
No two businesses are alike and no cloud software is exactly the same.
Most of our clients use Xero or MYOB and some use Reckon. One of our experts would be happy to talk you through the benefits of each software solution.
THE COMPANY
What is the background of Accounting For Small Businesses?
We have been in business since 2003 and have been working with small businesses since day one.
We started up AFSB after realising the impact that the introduction of GST (in 2000) had on small businesses.
Many accounting practices didn’t want to work with small businesses due to the extra cost and complications of GST. Small businesses just weren’t in a position to spend much on compliance and weren’t seen as profitable for accountants.
We wanted to help give small businesses a chance to win because they’re the heart of the Australian economy and they deserve respect.
We consider a small business to be a specialist form of business due to its unique challenges, problems, and opportunities. We wanted business owners to be able to prosper and to continue to do what they love.
We have been in business since 2003 and have been working with small businesses since day one.
We started up AFSB after realising the impact that the introduction of GST (in 2000) had on small businesses.
Many accounting practices didn’t want to work with small businesses due to the extra cost and complications of GST. Small businesses just weren’t in a position to spend much on compliance and weren’t seen as profitable for accountants.
We wanted to help give small businesses a chance to win because they’re the heart of the Australian economy and they deserve respect.
We consider a small business to be a specialist form of business due to its unique challenges, problems, and opportunities. We wanted business owners to be able to prosper and to continue to do what they love.
What help outside of my tax can I get?
We offer a wide range of services from asset protection reviews to payroll advice and cashflow projections.
Perhaps your business is facing a financial challenge. We think that we’re the best people to talk to first about this. We might be primarily tax accountants but we also own a small business ourselves and work with small business owners like you every day.
We consider ourselves more than accountants – more like small business advisors.
If you have a question, just ask. If it’s not in our area of expertise, we’ll refer you to someone we know and trust to support you.
We offer a wide range of services from asset protection reviews to payroll advice and cashflow projections.
Perhaps your business is facing a financial challenge. We think that we’re the best people to talk to first about this. We might be primarily tax accountants but we also own a small business ourselves and work with small business owners like you every day.
We consider ourselves more than accountants – more like small business advisors.
If you have a question, just ask. If it’s not in our area of expertise, we’ll refer you to someone we know and trust to support you.
Do you work with other advisors?
Yes, depending on what you need.
We may need to talk to your financial planner about your superannuation contributions.
You might be selling your business and need a valuation; or organising your compensation insurance for your workers and need certain documents.
Maybe you’re buying your dream house and we need to liaise with your finance broker; or updating your will, for which your lawyer needs specific financial information.
We have built up a network of fantastic advisors since 2003: people we trust to support you. We can even recommend a good gym and a great cup of coffee!
If you don’t already have an advisor, we are more than happy to help with recommendations.
Yes, depending on what you need.
We may need to talk to your financial planner about your superannuation contributions.
You might be selling your business and need a valuation; or organising your compensation insurance for your workers and need certain documents.
Maybe you’re buying your dream house and we need to liaise with your finance broker; or updating your will, for which your lawyer needs specific financial information.
We have built up a network of fantastic advisors since 2003: people we trust to support you. We can even recommend a good gym and a great cup of coffee!
If you don’t already have an advisor, we are more than happy to help with recommendations.