Tax Compliance Services
Ahead for Business is the leading provider of business and accounting tax advice and compliance services in Melbourne. Our Accounting team have acted as independent experts on behalf of businesses, individuals and government departments. We pride ourselves upon our ability to deliver logical advice in a timely manner across several forensic accounting services such as business structure, business valuations small business tax and financial planning.
There are many federal and state taxes and levies in Australia and we are here to help your business ensures it stays compliant! Federal taxes include income tax, capital gains tax, fringe benefits tax, GST etc. State taxes and levies include payroll tax, land tax and work cover. Missing deadlines for payment of taxes and levies can incur penalties, so we support you to help you to comply with your tax obligations with the Australian Taxation Office (ATO).
Financial Services Compliance
We help your business know where it stands by generating and/or helping you to understand your full set of Financial Statements. These are the vital ‘health check’ for your business and help you comply with the rules set out by financial regulators. We offer financial products that involve sound risk management, built on a thorough financial and compliance audit process.
Your Profit and Loss Statement shows clearly how well your business has performed financially over the financial year, or other relevant time period. Your Balance Sheet provides a snapshot of your business’s financial position, by looking at assets and liabilities at a given point in time. Correctly interpreting the numbers on these common financial statements is easier for those with financial management training, and the experience gained by decades of assisting small business with their accounting needs.
Financial Statements can be required for statutory purposes, for example they need to be lodged with the ASIC if the entity is classed as a Large Proprietary company or a Listed Company. However, for small business accountants in Melbourne, their main function is to crystallise results of the business for business planning purposes, and for tax planning purposes. They also form the basis for the year end tax return.
If you can’t easily prepare or access your financial statements, then it might be time to move to a cloud-based accounting system.
SMSF Compliance Audit
Helping small business owners set up their own self-managed superannuation fund (SMSF) and stay on top of their reporting requirements with financial institutions is one of our specialties. The level of compliance for SMSFs & SMSF Trustees is very high and failure to meet these compliance standards can be costly.
Handling of your SMSF return can be complex, and is materially different from other entities, such a company tax returns. We will assist you to prepare and submit your annual tax return for your SMSF, so that you can rest easy knowing that your SMSF compliance is up to date. Our senior managers and SMSF Auditors can assist you in creating and managing a trust in accordance with superannuation legislation, and also help you comply with in-house asset rules when required.
Call us on 03 9867 7711 to discuss your financial affairs today!
