Your Perth accountants offer more than just tax expertise; they assist in tax minimisation, cash flow management, compliance, and business growth strategies.

Typically, the Australian Taxation Office (ATO) imposes a "Failure to Lodge Penalty," although there are exceptions to this rule.

Following the lodgement of your return, you can apply to the ATO to waive this penalty under specific circumstances. We have a strong history of success for these applications.

It's important to remember that failing to lodge your tax return is a prosecutable offense with potentially severe consequences beyond just a financial penalty. Therefore, it's crucial to stay proactive and ensure your tax obligations are met to avoid escalating issues.

The Australian Taxation Office (ATO) imposes interest charges on late payments.

Upon payment of the tax, we can often request on your behalf to have the interest waived, with a track record of success in such requests.

If you're unable to afford the tax payment, it's crucial to still lodge your return by the due date or as soon as possible if already late. This allows us to negotiate with the ATO for potential payment plans or other debt management methods.

Interest will continue to accrue on any outstanding amounts, but once the debt is settled, we can often apply on your behalf to have the interest reduced by the ATO.

It's vital to communicate your situation with the ATO and fulfill your lodgement obligations instead of avoiding them. Ignoring your obligations will not resolve the issue; proactive engagement is necessary.

Start by organising your financial records, review your income and expenses, and consider tax planning strategies. Our team of experienced accountants can guide you through the process, ensuring you maximise returns and comply with current tax laws.

You can apply for an ABN here - https://www.abr.gov.au/business-super-funds-charities/applying-abn

We recommend you seek advice before doing so. If you require assistance, please contact us and we will assist you through the process and will also be able to work out which structure suits your needs.

Yes, we as accountants and tax agents, have the capability to submit tax returns for multiple years simultaneously. After fulfilling your lodgement obligations, we can assist you in communicating with the ATO regarding any outstanding debts, negotiations, penalties, or requests for potential remissions of penalty or interest if there are valid reasons for delays in lodgements.

It depends on numerous factors. If your income was less than tax free threshold, and there were no tax withholdings or franking credits and you weren't engaged in any business activities, you might not be required to file a complete tax return.

Nevertheless, you must provide a "no lodgement advice" to the ATO, which can be done either through us, directly contacting the ATO, or via your myGov account.

We can help guide you through critical decisions when launching your business, such as determining the most suitable business structure for your requirements, handling registrations, and meeting lodgement obligations.

After you've made your decisions, we also provide support in setting up your business, including applying for an ABN, TFN, and any other necessary registrations mandated by law.

Financial statements are crucial for businesses particularly due to legal requirements and loan processes. Many jurisdictions mandate regular submission of financial statements by businesses to avoid penalties or legal issues.

These statements provide a comprehensive overview of a business's financial health, crucial for accurate tax filings. Additionally, banks and financial institutions require financial statements when assessing loan applications to evaluate a business's ability to repay loans and overall creditworthiness.

Our Perth-based payroll specialists can set up your new payroll system, handle payroll processing, and provide training on online payroll systems for in-house management.

Yes. As accountants, we offer professional assistance in preparing and submitting tax returns for sole traders, partnerships, companies, and trusts, ensuring tax obligations and compliance with the Australian Taxation Office (ATO) regulations are met.

Primarily, our dedication to personalised service and transparency to ALL clients.

Most accounting firms will throw out overly complicated wordings at you that often leave you more puzzled. We however aim to provide all information in an easy-to-digest manner that makes decision-making possible for everyone involved and nurture multiple possibilities to find out which will work best for your business interests.