Business Tax

/ Business Tax

Sloe Trade

Running the business by your own, doesn’t mean you need to worry about your financial obligations.

Sole trading is the simplest procedure of business structure, in this you will have your own Australian Business Number (ABN) to manage your own business and will be responsible for all the business taxes, debts and liabilities. Your tax file number should be used to report your business income and Pay-As-You-Go (PAYG) installments are used to pay your combined personal and business income tax. You are also responsible to pay superannuation and tax of your employees. You are also required to pay Goods and Service Tax (GST) if your income is over $75,000 per annum and as stated by Australian Taxation office it is also mandatory to lodge the business activity statement (BAS) on time.

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To maximize your business income and to manage the finances of your business, choose a best accountant and bookkeeper.

Tax Accountant- The abacus tax accountant not only helps you to prepare your business finances by managing your tax obligations but also helps you to minimize your tax bill by maximizing your deductions, Not only this it will also provide you best advice for your business growth.

Bookkeeper- A good bookkeeper will help you to track your daily financial transactions, closely monitored your bank accounts, manage your invoices, debts and liabilities, Payment of GST on time, lodge your BAS, helps to recover outstanding payments, manage your payroll and superannuation obligation and will monitor that whether you are up to date with single touch payroll obligations.

Year Round Assistance- As a customer of the abacus tax group pty ltd you will achieve a year round support from us. We will for sure help you in your financial decisions and will address the ways to maximize the tax returns and profits and will inform you some strategies for investment, ways to reduce the value of your equipment and assets so that you can maximize your claims and reduce your tax liabilities.

As a sole trader you are responsible for your tax obligations and bookkeeping but when you will get the right advice in your business it will ease the process and will build confidence in your mind that your business is running smoothly.

Partnership

The abacus will help your partnership business including your partners in finances and tax in every financial year and throughout your business

In a partnership business the business is equally divided between all the partners who share business income and losses and the business is easy to set up. All the partners must have their own tax file number (TFN) and Australian Business Number (ABN). Partnership can be formed in number of ways such as verbal and written but in order to reduce the disputes and legal issues it is advised to have a written agreement and every partner must have a copy of agreement.

Partners are not only responsible for business debts and liabilities but are also equally responsible for partner’s actions and debts. A partnership does not pay tax on its income; however it is spread equally across all partners from which tax will be paid on their share of the business. In the partnership the tax return is submitted both for the business and as an individual partner which will help to separate the business expenses and deductions. Some of the deductions can be claimed by partners as these are not available to partnership.

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A partnership is responsible for paying employees tax and superannuation obligations. You are also required to pay Goods and Service Tax (GST) if your business income is over $75,000 per annum and as stated by Australian Taxation office it is also mandatory to lodge the business activity statement (BAS) on time.

As a sole trader you are responsible for your tax obligations and bookkeeping but when you will get the right advice in your business it will ease the process and will build confidence in your mind that your business is running smoothly.

Company

We helps in every financial obligation from BAS, GST, and PAYG to registrations; we also help in the setup of business and the maintenance of framework which is necessary to run a company.

Learn more- Every business require efficient partners who can help in financial advice, bookkeeping, GST, BAS and STP reporting requirements and financial advice for the growth of the business. At present, businesses need a help of an accountant who can minimize the taxes, reduce the cost of business as well as guide the business for future growth.

Our team has 10 years of experience in serving Australian businesses with their finances. We offer a advice over different services such as startup, compliances, registrations, licenses and permits, ASIC compliance, financial management and reporting and advising for tax efficient strategies tailored to suit your business.

Tax accountant-The abacus tax accountant not only helps you to prepare your business finances by managing your tax obligations but also helps you to minimize your tax bill by maximizing your deductions, Not only this it will also provide you best advice for your business growth.

We are fully qualified and registered tax agents who are well trained in preparing and lodging tax returns and always up to date in training on tax laws, tax and accounting.  As you all know Australian Tax law is complex so the advice of expert and professional can help in customer protection, reduction in tax and maximise the returns.

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We offer variety of services for the maintenance and growth of the business-

  1. Advise on the structure of the business and planning for future growth.
  2. Tax planning, reporting, compliance and strategies.
  3. Management of accounts, performance reports and business plans.
  4. Provide advice on the improvement of performance, reviews and feedback.
  5. Payroll and advisory services.
  6. Loan applications.
  7. Custom reporting and financial statements.
  8. Audit preparation.
  9. Legal requirements and registration.
  10. Company compliances.

Bookkeeping- every business requires to keep its records for five years. The business should be legally compliant and have a look at real time cash positions to make financial decisions. The abacus Accountants use the latest accounting software to keep the records in good order.

A good bookkeeper will help you to track your daily financial transactions, closely monitored your bank accounts, manage your invoices, debts and liabilities, Payment of GST on time, lodge your BAS, helps to recover outstanding payments, manage your payroll and superannuation obligation and will monitor that whether you are up to date with single touch payroll obligations.

Year Round Assistance- As a customer of the abacus tax group pty ltd you will achieve a year round support from us. We will for sure help you in your financial decisions and will address the ways to maximize the tax returns and profits and will inform you some strategies for investment, ways to reduce the value of your equipment and assets so that you can maximize your claims and reduce your tax liabilities.

Trust

The abacus can help in the management of trust and its beneficiaries and will make you understand about your tax liabilities.

When you will set the right trust it will help to protect business, family assets, and management of income. A trust can help in reduction of tax, protection of wealth in long term and distribution of income. The setup and management of tax is very difficult. Formal deeds are required and there is administrative work that must be done each year. It is written in deed about the operation of trust which requires a professional advice. So, here we can help in this and also in the reduction of tax liabilities. When the trust is managed properly it will help in reducing the tax rates by distributing income to beneficiaries. We can also help in getting TFN for annual tax returns and ABN and register your trust for GST if the income is more than $75000, or more and %150,000 for non-profit organisations.

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  1. Understand your personal and business risks
  2. Safeguard your personal and business assets
  3. Protect against family breakdowns, divorce and separations
  4. Reduce taxes through income distribution and lower tax rates
  5. Ensure assets are passed to future generations
  6. Protect your assets against legal action and bankruptcy

Tax Accountant

The abacus tax accountant not only helps you to prepare your business finances by managing your tax obligations but also helps you to minimize your tax bill by maximizing your deductions, Not only this it will also provide you best advice for your business growth.

Rapid growth of the business doesn’t happen overnight, it actually requires time, effort and advice of an expert. We are specialized in variety of services from tax returns to loans which you can discuss with us and get our expert advice which can also help in future growth.

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Tax Accountant

The abacus tax accountant not only helps you to prepare your business finances by managing your tax obligations but also helps you to minimize your tax bill by maximizing your deductions, Not only this it will also provide you best advice for your business growth.

Rapid growth of the business doesn’t happen overnight, it actually requires time, effort and advice of an expert. We are specialized in variety of services from tax returns to loans which you can discuss with us and get our expert advice which can also help in future growth.

A good bookkeeper will help you to track your daily financial transactions, closely monitored your bank accounts, manage your invoices, debts and liabilities, Payment of GST on time, lodge your BAS, helps to recover outstanding payments, manage your payroll and superannuation obligation and will monitor that whether you are up to date with single touch payroll obligations.

Year Round Assistance- As a customer of the abacus tax group pty ltd you will achieve a year round support from us. We will for sure help you in your financial decisions and will address the ways to maximize the tax returns and profits and will inform you some strategies for investment, ways to reduce the value of your equipment and assets so that you can maximize your claims and reduce your tax liabilities.