Taxation Solutions For Partnerships
Our accounting services are customised for our clients. The following is a guide only so feel free to contact us to arrange a meeting for further discussion:
- We offer the best advice on the most suitable software packages to help preserve your records with regards to the type and nature of your transactions.
- A guide to recording your periodical transactions for the purpose of GST amounts.
- Proposed set up and outlay for preparing tax invoices and the necessary components when issuing any bills.
- Aiding you with employees’ payroll (wages) and the apportioning the correct amount of compulsory superannuation guarantee on applied earnings only.
- What to do when purchasing such assets as motor vehicle for your business and the right amount and where to place such assets for your records, how to reflect on business and private usage , if applicable.
- Which software to use for linking bank accounts, at no additional charges to you that also links us with your bank account(s) with secure downloads of your transactions into our system which seriously reduces time and effort.
Taxation Services that we provide/include (but not restricted to) are:
- Guidance to the basic rules and laws that govern your entity. If you don’t have any set up then the Partnership Act laws may be imposed.
- Register your entity to obtain an Australian Business Number (ABN), Goods and Service Tax (GST) and PAYG regime, if applicable
- Provide knowledge of annual statutory obligations with regard to the Australian Taxation Office and Department of Fair Trading.
- Provide knowledge of allowable deductions associated with your work /business and how you can claim all eligible expenses you incurred.
- What to do when selling or disposing of a business asset and look after the Capital Gains Tax implications and Small Business Concessions for you, if relevant.
- Prepare and lodge Business Activity Statements including GST reporting (cash/accrual basis), PAYG withholding and Instalment.
- Prepare and lodge Partnership Tax Return including Primary or Non- Primary Business schedules, Investment Rental Property schedules and Partners Distribution Statements.
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