Australian Business Necessities
If you are thinking of taking the first steps into the challenging world of business ownership, then the key to success is to make sure you understand and meet all your reporting and payment obligations.
As registered tax agents, we manage all tax accounting requirements for businesses, as well as provide tax planning to business owners. Our services include but are not limited to:
- Annual Income Tax Returns
- Annual Financial Statements
- Budget/Cash Flow Projections
- Business Activity Statements
- Business Advice & Structuring
- Capital Gains Tax (CGT)
- Corporate Tax
- Financial Reporting
- Fringe Benefits Tax (FBT)
- Goods & Services Tax (GST)
- Management Accounting
- Payroll Tax
- Tax Planning & Minimisation Strategies
We believe what makes us different from the rest, is our ability and willingness to develop trusting relationships with our business clients, and in doing so, we can empower our clients to make informed decisions that will improve and grow their businesses.
Tax Breaks for Small Businesses
One of the cornerstones of the May budget was the benefit to small businesses with asset purchases up to $25,000 until 2nd April 2019 and further increase to $30,000 until 30th June 2020.
Important Due Dates for Taxation & Superannuation
Lodge 2018 tax returns for all entities that did not have to lodge earlier (including all remaining consolidated groups) and are not eligible for the 5 June 2019 concession.
Due date for companies and superannuation funds to pay if required.
Note: Individuals and trusts in this category pay as advised on their notice of assessment.
Lodge and pay April 2019 monthly business activity statement.
Final date to add new FBT clients to your client list to ensure they receive the lodgement and payment concessions for their fringe benefits tax returns.
Lodge and pay Fringe benefits tax annual return if lodging by paper.
Lodge and pay eligible 3rd quarter, 2018–19 activity statements if you lodge electronically.
Lodge and pay 3rd quarter, 2018–19 Superannuation guarantee charge statement – quarterly (NAT 9599) if the employer did not pay enough contributions on time.
Employers who lodge a Superannuation guarantee charge statement – quarterly, can choose to offset contributions they paid late to a fund against their super guarantee charge for the quarter but still need to pay the remaining superannuation guarantee charge.
Note: The super guarantee charge is not tax deductible.
Lodge tax return for all entities with a lodgement due date of 15 May 2019 if the tax return is not required earlier and both of the following criteria are met:
- non-taxable or a credit assessment in latest year lodged
- non–taxable or receiving a credit assessment in the current year.
Note: This includes companies and superannuation funds but excludes large/medium taxpayers and head companies of consolidated groups.
Lodge tax returns for individuals and trusts with a lodgement due date of 15 May 2019 provided they also pay any liability due by this date.
Note: This is not a lodgement due date but a concessional arrangement where failure to lodge on time (FTL) penalties will not apply if you lodge and pay by this date.
Lodge and pay May 2019 monthly business activity statement.
Super guarantee contributions must be paid by this date to qualify for a tax deduction in the 2018–2019 financial year.