Services
We offer a broad range of services including:
General taxation, personal tax returns, including planning for tax, fringe benefits tax, capital gains tax, foreign income and self-managed superannuation funds.
Business taxation for small businesses, including GST and BAS, advice and planning, benchmarking, financial management, budgetting and cash flow, accounting systems and staff matters.
Computer based accounting with 'Cashman'* and other accounting packages.
Specialist small business advice:
- Are you receiving more than Tax and GST advice from your accountant?
- Are you charging enough for your products or services?
- Are you spending too much on staff costs?
- How does your business compare against your competitiors?
- Profitability and benchmarks advice on a timely basis are an important part of todays accounting advice for small business.
These are important items that we discuss whilst compiling your taxation and GST requirements or from details provided by your current Tax Advisor. Used properly, these will become powerful tools to help ensure the future viability of your small business and better help you to achieve your goals.
Self Managed Superannuation Fund (SMSF) Administrators & Auditors
What is a SMSF?
A SMSF is a separate entity structure with the sole purpose of the fund depending on the type of trustee selected. Should a Corporate Trustee be required as per the governing rules. However if individual trustees are selected then the sole purpose of the SMSF is the provision of old age pensions to members.
The trustees of the SMSF whether individual (must be minimum of two) or corporate (ie Company) are the ultimate responsibility of the operation of the SMSF. The trustee can use the services of administrators, accountants and financial planners to help assist them in keeping the SMSF compliance with the Australian Taxation Office (ATO) who monitors and regulates the SMSF industry.
A SMSF must have fewer than 5 members and each member must be a trustee of the fund.
The trustee of the SMSF is required to have the SMSF audited annually by an approved ATO SMSF Auditor. The auditor will perform the necessary audit requirements on the SMSF financial accounts and also to assess whether the SMSF has complied with the relevant current superannuation legislation for that income year. A report for that period after the end of the income year is given to the trustee stating any concerns that have occurred and whether the SMSF is compliant.
Before an SMSF can be established it is recommended that you should seek the services of an independent financial adviser to verify whether this is the right type of retirement structure for you needs.
Establishment of a SMSF
Our firm can help prepare and establish a SMSF for you by using the services of reputable suppliers of SMSF Trust deeds. Our role in establishing a SMSF will
be to the following:
- Preliminary discussion
- Membership Applications Processed
- Commencement Minutes
- Tax File Number Application Processed
- Australian Business Number Application Processed
Our role as SMSF Administrators
As SMSF administrators we will prepare the annual compliance requirements that are needed to be fulfilled each year for the trustees of both accumulation and pension SMSFs. Our firm will prepare the financial statements and member statements on BGL simple fund software*. The SMSF Administration compliance performed by us will be the preparation and lodgement of:
- Financial Statements (Including Operating Statement, Statement of Financial Position, Notes to the Accounts)
- Member Statements
- Income Tax and Regulatory Return
- Eligible Termination Payments (ETP's)
- Quarterly Business Activity Statements or Instalment Activity Statements
- Pension Commutation (ie Pension Establishment and Calculations)
- Minimum and Maximum Calculations for Pensions
- Pay As You Go Annual Summaries and Annual Statement
- Trustee Minutes
- Member Minutes
- Bank Audit Confirmation
- Trust Deed Services
As your SMSF Administrator we will also liaison with any external SMSF Auditor and the ATO on your behalf.
Our role as SMSF Auditors
Should you wish to employ our firm as the SMSF Auditor we will provide an independent service so that the requirements are met when assisting an external accounting firm or the appropriate SMSF bodies. Unlike some accounting firms we are able to provide an independent SMSF auditors role requirements even when we are also the SMSF administrator for your SMSF. This is due to the fact of our firm having three separate offices with a registered CPA Accountant at each office. The SMSF will be treated as if it had come from an external accounting practice and will have to go through our strict audit program. We are always updating and monitoring our audit procedures so that we are able to perform our audits at the highest quality.
For further information please click HERE to contact us.
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