Taxation Services For The Sole Trader
When we are talking Sole Trader we are referring to anyone who carry on a business in his/her own right ie owner or proprietor.
Accounting Services that we provide include but definitely not restricted to the following are:
- Best advice on most suitable software to maintain your record keeping with regards to nature of your transactions.
- Assistance on how to record your periodical transactions when it comes to the GST amounts.
- Advice on the proper set up and outlay for issuing tax invoices and the required components to be included in any bill.
- Assistance with you employees’ payroll (wages) and the allocation of the correct amount of compulsory superannuation guarantee on the applicable earnings only.
- Advice when purchasing assets such as motor vehicle, for business and correct amount to record in your records to reflect business and private usage, if applicable.
- BankLink Software, at no additional charges to you that links us with your bank account(s) and securely downloads your transactions into our system which seriously reduces time and effort.
Taxation Services that we provide include but definitely not restricted to the following are:
- Assist you to become familiar with the basic rules and laws that govern your entity.
- Register your entity for an Australian Business Number (ABN), Goods and Service Tax (GST) and PAYG regime.
- Inform you of the annual statutory obligations with to the Australian Taxation Office and Department of Fair Trading.
- Inform you on all the allowable deductions with respect to your work /business and what you need to do to claim all eligible expenses you incurred.
- Assist you when selling or deposing of a business asset and look after the Capital Gains Tax implications and Small Business Concessions, if applicable.
- Prepare and lodge Business Activity Statements including GST reporting (cash/accrual basis), PAYG withholding and Instalment.
- Prepare and lodge Individual Tax Return including Business schedules, Investment Rental Property schedules, etc.