NORTH WEST MELBOURNE ACCOUNTANTS

BUSINESS TAX RETURNS

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(03)9864-1885
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Email: info@nwmelbourneaccountants.com.au

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Business tax returns can be very complex and time consuming, however with our assistance and with forward planning we can help you to make this much simpler and reduce the amount of time you need to devote to this whole process significantly.

At the end of each financial year your business needs to ensure that all the accounting and bookkeeping for the financial year is complete. From this information your tax return, including all the required reports, can be completed. Depending on what type of business you operate, some of the common tasks that you need to complete at the end of the financial year are:

Performing a stocktake.
Recording all the assets your business owns. This will include any assets purchased or sold during the financial year, along with the dates purchased or sold.
Recording all expenditure used to improve your assets.
Producing a summary of all income and expenses for the financial year which, will be used to produce a Profit and Loss Statement.
Producing a summary of all debtors and creditors, along with amounts owed and owing.
Producing a summary of all wages paid, including a pay as you go (PAYG) withholding report.
Checking all superannuation requirements have been met.
Producing a report of your fringe benefits tax (FBT) for the year (if appropriate).
Producing a report for any Goods and Services Tax (GST)/Business Activity Statement (BAS) still to be lodged.
Producing a report of any taxable payments.
Producing and backing up digital copies of all your records. This includes your business registrations, all financial records and all customer data.

We can help you with these common tasks and make the process much easier!

An Accountant and Bookkeeper going through documents on a desk preparing a tax return

Do you want to book an appointment or do you have a question? Then please contact us! All questions answered obligation free! For immediate assistance call us on
(03)9864-1885
otherwise email us at info@nwmelbourneaccountants.com.au or fill out and submit the Contact Form below! And for a limited time only get a Special Bonus Voucher with every enquiry!

We are not just an Accountant for taxes, we are much more. To read more information about the main business services that we provide, please click on the button below.

Business Services

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(03)9864-1885

A common question that is asked is which business expenses can you claim? Generally speaking, if the expense is directly related to earning income, then it can be claimed. Records must be kept to prove the expenses. You can also write off debtors and some assets prior to the end of the financial year as deductions. As well as this there are several tax concessions available to small business. Another thing to consider and be aware of is that tax law constantly changes and is updated. This means that deductions and concessions do change. Trying to work all this out can be difficult, however with our guidance and experience we make the whole process simple and ensure that you are always up to date with the latest tax laws.

Another area which can really simplify the entire tax process is your bookkeeping system. With a well chosen and correctly used electronic bookkeeping system the generation of accounting reports and the compiling of figures for your business tax return can be simplified extensively. Using our experience, we can ensure that you are using an appropriate bookkeeping system for your business, that you are using it correctly and if necessary, help you to upgrade it to an appropriate system. To read more about our accounting and bookkeeping services, please click on the button below.

Accounting & Bookkeeping Services

If you have a general question or if you have a question about our business tax returns, we are always happy to answer any question obligation free. You can contact us now on (03)9864-1885 or if you prefer email us at info@nwmelbourneaccountants.com.au or fill out then submit the Contact Form below. Once we have talked to you, understand your situation and have answered all of your questions, we are happy to provide you with a personalised free quote for any of the services that you may require, if you so desire! So, what are you waiting for? Contact us now and let’s get everything sorted out and finalised for you as soon as possible!