Most businesses need to lodge an annual tax return and keep proper records.
Depending on your setup, you may also need to report and pay GST through BAS, manage PAYG withholding for employees, lodge Single Touch Payroll, and pay super on time. Some businesses may also have PAYG instalments, fringe benefits tax, or state-based payroll tax.
A tax advisor helps you reduce tax legally by making sure you claim the deductions you’re entitled to and structuring your business in a tax-effective way.
We can also help with timing of income and expenses, improving record keeping, and planning ahead so you stay within ATO rules while paying no more tax than you need to.
A registered tax agent helps you lodge correctly and on time, reducing the risk of mistakes, penalties, and ATO follow-ups.
You may also be eligible for later lodgement deadlines when you lodge through an agent. Most importantly, you get expert advice so you can make better decisions, save time, and avoid costly errors.
Late lodgement can lead to ATO penalties and interest charges, and it can also delay refunds.
Ongoing late lodgements can increase ATO scrutiny and create bigger compliance issues over time. If you’re behind, it’s usually best to act early, lodge what’s outstanding, and discuss options like payment arrangements.
An SMSF may suit you if you want more control over how your super is invested and you’re comfortable being hands-on with your retirement strategy. It can also be useful in the right circumstances for tax planning and wealth creation, with more flexibility than many retail or industry funds.
The key question is whether you’re ready for the trustee responsibilities that come with it, including ongoing compliance, reporting and audits under super and tax rules. We’ll talk through your goals and circumstances and guide you toward the best option, including alternatives if an SMSF isn’t the right fit.
Ready to get started? Contact us here.