Superannuation compliance & PAYG
Does anyone like to pay tax?
Tax planning basically considers the tax implications of a person, investment, or his business decisions, ultimately with the goal of minimizing tax liability. While decisions are rarely made solely on their tax impact, you should have a working knowledge of the income or estate tax issues and costs involved.
We can help you plan to minimize federal income tax liability and this can be done by:
- Reducing taxable income through shifting
- Careful planning deduction
- Investment tax planning
- Annual planning strategies
Paying taxes and superannuation liability is not a big task for business owners though it is the reason for the failure of most businesses, it is very important for business owners to comply. Without compliance goals can not be achieved.
Our Taxation and Accounting Services
Our main objective is to help businesses in maintaining their books and help to make them plans for the bright future of their business. We deliver accurate and relevant information to produce transparent reporting. Our team has extensive knowledge of tax regulations and changing in tax laws. No matter what is your business about, we deliver advice to individuals, sole traders, partnerships and corporations. We also have experience in dealing with trusts owned by family business. We have competitive staff to assist clients in different tax issues such as PAYG, FBT, BAS and IAS.
- PAYG (Pay-as-you-go) withholding
It is a tax on your employee’s income that has to be paid to the govt. As a business owner you need to register your business for PAYG withholding if you are paying to
- Your employees
- Businesses or contractors that are dealing with you without ABN
- Other workers or contractors
We help businesses to manage their PAYG and payroll process. Our PAYG and payroll services include
- Process payroll
- Payment to employees or contractors by using checks or direct-deposit
- Email pay slips to employees or contractors
- Filing and preparation of payroll taxes
- Cloud-based software is used for entering time-sheets
- FBT (Fringe Benefit Tax)
It is a tax that is to be paid on the benefits provider by employer to employee. We help businesses to meet their FBT obligations. It is very important for employer to have complete knowledge about the tax liability that comes with the benefits. We also give ideas and advice on the exemptions and concessions, and also how to improve the employee’s loyalty. Our FBT services include
- Monitoring of business accounts to assess the fringe benefits of employees and directors
- Collecting all the information needed to calculate the fringe benefit
- PAYG installments review
- Preparation of BAS
- Estimate FBT obligation
- Organizing and managing FBT records
- Registering for FBT
- BAS (Business Activity Statement)
It is very important for businesses to lodge a Business Activity Statement (BAS). It is difficult for business owners to manage BAS because it is a time-consuming task and business owners along with other activities do not find time to manage these kinds of obligations. We provide dedicated accountants to help businesses in lodging BAS to ATO. By assigning BAS task to an accountant, business owners can have free time to focus on other projects of the business. Depending on the type of your business, you can select the packages of lodging BAS, our packages include quarterly, monthly or annually plan. Our allocated BAS accountant can perform the following task to relieve the burden
- Perform an audit on all business transactions to have correct value of GST
- Comparing annual tax returns BAS lodgments
- Steps to make your accounts safe from ATO audits
- Keeping themselves updated with the new tax regulations and legislations
- Organizing a well-developed payment plan with the ATO
- IAS (Installment Activity Statements)
Our IAS accountants help businesses to meet their accounting needs. Our accountants organize and calculate data to provide accurate results for effective management decisions. Our objective is to build long-term and successful relationship with businesses to make their business profitable.
Our team of dedicated accountants work closely with your team to fulfil your taxation needs, it also includes managing of super funds. Superannuation is the key component of financial security. We offer top notch quality service to our clients. For most of the business’s superannuation is difficult to manage along with other responsibilities. Hire a bookkeeper or outsource superannuation services to us for the peace of mind. We help companies to fulfil their superannuation requirements to save them from hefty fines. Our services include
- Setting up SMSF profile
- Change in documentation from individual to corporate trustee
- Accounting and taxation lodgment
- Tax return service
- Annual accounting and tax services
- Compliance services
Our focus areas are
- Establishment of a business
- Investment structuring
- Estate planning
we work with businesses to prepare tax return files, financial statements, trustee minutes and other important documents related to compliance.
Relieve the burdens of compliance and daily management!
With highly effective increased control and tax rates over investment choice and assets, it’s no big surprise that all types of self-managed super funds have become Australia’s rapidly growing investment cycle. Our compliance service includes
- Setting up financial accounts
- Managing periodic management accounts
- Bookkeeping services
- Maintaining and organizing PAYG and GST records to save companies from hefty fines
- Managing and monitoring PAYG and superannuation compliance
- Preparation of income tax return and statement reports
- Prepare businesses for FBT and payroll tax
Our client-centric superannuation compliance experts can help you relieve the burden of compliance as well as the daily management solutions. We not just provide guidance in your accounting issues, we are also here to manage and organize your super funds. We regularly monitor and report our client’s SMSF and help them know that we are efficiently able to identify multiple compliance issues and potential breaches with respect to contributions and several other legislative concerns.
HHAccountant can manage these processes efficiently and help you streamline the process more easily and simply.