Compliance
What's this one do?
Compliance is attending to accounting; income tax and other statutory obligations. This is a specific and comprehensive service to ensure that all the issues and requirements that a business needs to comply with are attended to, legally.
If you're serious about the best tax outcome, then you need the best support. Whether you're just starting a business, wanting to take advantage of available tax concessions, or just looking to make your compliance with tax law simpler, we can assist you to deal with the many issues involved.
How does it work?
Our approach is a little different; we think beyond the immediate task so we can deliver the best solutions and strategies. We really get to know your business - to understand your objectives, your systems, and your current and future tax risks. The best tax strategies can make a big difference to your total liability, especially if buying or selling a business or making a substantial investment.
In Tax Compliance, we assist with:
- Tax returns for individuals or any form of business, whatever the structure (partnership, companies, trusts, superannuation)
- GST registration and Business Activity returns
- Reviewing and advising on Tax Office correspondence
- Getting the best overall tax position
- Other taxes, such as Fringe Benefits, Capital Gains
- Advice on tax withholding obligations and employee superannuation
- R & D Incentive and EMDG.
Tax Consulting means planning to legally minimise total tax liability and identifying effective tax solutions. The late Kerry Packer was both shrewd and formidable. Before a Senate Enquiry, when he was accused of not paying enough tax he replied that, "Of course I am minimising my tax. And if anybody in this country doesn't minimise their tax, they want their heads read ….."
These include:
- Appropriate business structure for operations, asset protection, business restructuring, and capital gains planning
- Purchase or sale of a business
- Tax effective investment
- Capital Gains Tax advice and solutions
- Superannuation strategies for tax saving and retirement (Veda Finlay is a Limited Authorised Representative 231520 of Merit Wealth Pty Ltd (AFSL 409361), ABN 89 125 557 002)
- Interpretation of complex taxation issues
- Negotiations with the Tax Office
- Reviews before financial year end, to minimise current year tax
In Other Compliance, we can assist with requirements like:
- Building Services registration and returns
- Travel industry applications and Travel Compensation Fund licences
- Business Names registration
- Company secretarial matters and ASIC annual statements
What are the Benefits?
- We'll be seeking to ensure that you'll legally save more in tax than your investment with us. Our strategy is to understand your business and to do things for your benefit, even if it does take a bit longer
- Huge peace of mind from knowing that everything that has to be done has been properly completed
- The reassurance of help, support and advice, when you need it
- You'll understand the numbers better, so you can think about improving your business (see GROWTH), and for talking to your bank.
Who is it for?
Everyone earns income so everyone must lodge a tax return. We specialise in returns for businesses, and so we attend to all structures (partnerships, trusts, companies, super funds) and for all situations (start-up, growth, buy-sell, disputes, forward planning). Our Compliance service suits everyone who not only has to lodge a return, but especially those who want to get the best tax outcome.
The comments made represent general advice only and no person should act on these without obtaining personal advice that takes into account their own circumstances and background.