Taxation Consultancy

Income Tax & Capital Gains Tax

We live in a country with a complex taxation system. Whilst it may be appropriate for many employed individuals to prepare and lodge their own income tax return, we offer peace of mind that you have claimed everything to which you are entitled, whether you have a simple “PAYG return” or more complicated taxation affairs.

Getting advice on specific issues and transactions could save you tax. This isn’t tax avoidance. Rather it is merely ensuring that you pay the appropriate amount of tax and not a cent more.

As you proceed through life accumulating assets for “your retirement”, tax is a major cost affecting this process. It makes sense to manage this cost as you would any other investment related cost. Advice as to how to structure asset acquisitions is critical.

And the cost of us helping you through this is generally tax deductible!  

Fringe Benefits Tax (FTB)

If you employ staff then you need to understand the potential costs (as well as positives) of providing non-cash benefits to your employees.

There may be ways to reward staff members with benefits that are exempt from fringe benefits tax. With many employees able to take “transition to retirement pensions” from age 55 there may also be opportunities for an employer and employee to package with no extra cost to the employer whilst providing more after tax cash to an employee.

Of course we also prepare annual FBT returns…  

Goods & Services Tax

If you carry on a business in Australia then you need to understand whether you have any GST obligations to consider.

Once again this can be a complex area of the law to comply with. It is also an important cash flow consideration for any business and must be managed in the same manner as your other taxation affairs.  

Self-Managed Superannuation Funds (SMSF)

Generally thought of these days as the investment vehicle of choice due to the tax-effective environment available for wealth accumulation purposes.

There are significant issues for anyone thinking of setting up a SMSF and acting as a trustee thereof to think about. More and more people in Australia are comfortable with the responsibilities that they will have as a trustee of their SMSF as evidenced by the continuing growth in SMSF’s being set up each year.

We can assist in the process of understanding exactly what is involved in running a SMSF and the pros and cons compared to the alternatives available.

After that, the choice as to whether this is for you is yours and yours alone.  

Getting advice  

For further information please contact Robinsons Chartered Accountants on 08 8223 3455

 
 


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