Accounting and Taxation:

As the old saying goes:
"There are only two certainties in life - death and taxes."

 

Did you know that only 17% of Australian tax payers receive the maximum tax return legally available to them.  By undertaking the professional advice available there is an 83% chance that we will be able to help you get a better tax refund each year.

 

For accounting and taxation purposes we have access to an in-house qualified CPA registered tax agent.  Our accountant is able to assist all Financial Advisers Australia (FAA) clients with;
- Tax returns
- BAS
- Book keeping
- Any other accounting and taxation needs and queries that you have.

 

Taxation
The Commonwealth of Australia derives its taxing powers from the Constitution. The Australian Taxation Office (ATO) is the Commonwealth government agency responsible for collection of Federal taxes and administering taxation laws. Part of the income tax collected by the Commonwealth is shared with the States, to help meet their operating costs.

Taxpayers are STRONGLY advised to seek professional assistance when dealing with Australian income tax law.  Australia's financial year operates from July 1 to June 30 each year.

 

How does a tax return work?
Direct income tax is the one of the biggest forms of tax in Australia. 

Each year millions of Australians lodge an income tax return. Workers employed on a wage pay most of their income tax as a regular deduction from their wages. This tax is paid periodically by employers on their behalf to the ATO.

The annual income tax return declares a taxpayer's income from all sources and the taxpayer may make legitimate tax deductions incurred in earning their income. An assessment is made of the return lodged to the ATO and a refund or an amount payable usually arises. Most profitable small business taxpayers pay their income tax annually or quarterly depending on their level of tax.

 

How can we help you?
“Tax accountants count the beans that have been, whereas financial advisers can educate where to maximise your future return”

There are various different strategies available to legally reduce the amount of tax that you are required by law to pay.  Some of these include work place deductions and investments. 

Come in and see us today to find out more information in a free no obligation two hour appointment.

Prepared by John Hehir Financial Advisers Australia (FAA).