4.20/58 Highland Way, Upper Coomera QLD 4209
No confusing accounting speak, no jargon.
Our goal is to give you sound advice that helps today, is relevant tomorrow and most importantly, makes sense!
Our list of advisory services include:
Capital Gains Tax (CGT)
- Sale of assets or property in Australia
- CGT ATO concessions
The keeping of accurate records could be the difference between a capital gains win or loss at tax time.
Relevant issues like timing, exceptions of concessions all play a part in reducing your liability.
Unless purchased before 1985 and specifically excluded, your purchase could be subject to CGT.
Goods and Services Tax (GST)
GST is both complicated and confusing. Let our GST team prepare and lodge Activity Statements, assess your entitlement to claim input credits and maximise your GST outcomes.
Our GST advisory services include:
- GST exemptions
- GST on Property transactions
- GST on imports
- Margin Scheme
The number of audits increased in 2021 with the ATO focusing on data matching with banks, government agencies and even your Facebook Business account!
Not sure if you are compliant? From experience, we find it wiser to ask for permission, rather than beg for forgiveness. Why? Because audits are time and revenue consuming, as well as being stressful! Voluntary disclosure of information can result in a significant reduction in administrative penalties.
If engaged by the ATO a proactive standpoint is always best-practice. If you are uncertain of their requests, engage your accountant to understand the how’s and the why’s.
Need help? Reach out to our experienced accounting team, they are both experienced and eager to work toward a timely, positive resolve.
Been handed a decision you don’t think is fair? You could be entitled to a private ruling. Private rulings take into account your unique circumstances when interpreting a piece of law or legislation.
Technology and a fast-paced business landscape have seen a rise in private ruling reviews. If your situation is unique or not covered by current policy, it may be advantageous to seek a Private Ruling.
As business owners we are all carrying some type of risk. Through sound practices and processes we aim to limit them at an acceptable level.
While we are unable to affect our outside environment, there are measures we can take to limit the exposure of our business and our assets.
Like a sturdy house requires a strong foundation, correctly setting up your livelihood now is the key to a steady future. Your foundation balances both the long and short term goals, while also considering tax laws, future changes and business risk.
When formulating a structure it’s wise to consider:
- Is it cost-effective for my needs?
- Can it scale if needed and how easy is it to transition ownership if required?
- Does it maximise risk minimisation and asset protection?
- Does it comply with your licencing requirements or insurance policies?
Always remember businesses evolve and what was correct at one point, may not be now. Changes in structure will often result in CGT consequences, so it’s wise to consider how decisions now will affect your future.