Every end of financial year you are required to lodge a return to the government. Quite often you receive some of the money you paid throughout the year back. There are also all kinds of work-related expenses that can be claimed. Using a tax accountant North Sydney based can make sure you receive the most possible back in your return.
There are two types of services that you can access at a tax accountant in North Sydney.
Tax return services
For this service, you can use it for individual returns. Individual returns can be done in the office using a taxation officer, you can do it at home on their website, or use a professional online to ensure you get the most out of your return. They are also able to review your refund to ensure everything is correct, this can make a huge difference in the amount that you receive and ensure you do not end up having to pay more in the end. If you are late with your return or have missed a previous year, they will be happy to get these sorted out promptly.
If you are US citizen working in Australia you may have difficulty understanding all of the legal obligations and you may not have the knowledge of how it is done here in Australia. A tax accountant in North Sydney has a full understanding of how these returns work. They will lodge your return correctly ensuring both US and Australian laws are followed correctly.
Business Services
Running a business efficiently comes with a lot of expenses. These can be tricky to navigate. There is a lot of paperwork as well that needs to be organized throughout the year and at the end of the financial year. By using a tax accountant in North Sydney you can have some of this financial paperwork taken care of. This includes business activity statements, financial statements, and bookkeeping services. They will organize ABN registrations and company structure set up. And you can have returns done for your company, self-managed super funds, and returns for Sole Traders and contractors.
Small businesses have a few things that they can claim as well. A tax accountant in North Sydney can:
– Access immediate deductions on any assets that are valued under $20,000
– Access immediate deductions for certain business expenses that have cost less than $1000
– Can claim an exemption or reduction of the fees on capital gain when you have sold a business. This will be based on how long you have owned the business and the age of the owner.
– Simplified trading stock rules– this is for eligible small businesses only, this allows you to not do a stock take if you believe you have a $5000 difference, negative or positive, from the last financial year
– Excess reduction for a business start-up costs
– And can also access a reduction on the taxation rate for corporate businesses.
If you own a large company or trust then the tax accountant in North Sydney encourages you to use their services.
It is very important for you to use a professional for your individual and business returns for all of your ongoing business-related finances. By using a tax accountant North Sydney you will receive only the best taxation experts. They will do everything in their power to ensure that you get the return that you desire and for businesses, you will get the offset and deductions that you are entitled to.
There are no hidden fees. When you use a tax accountant in North Sydney they will be upfront pricing before your return is prepared to allow you to decide whether you want to use the service before being charged anything. You can also claim this fee in your next year refund.