Sole Trader or Partnership Tax Return
Setting up your business as a sole trader or a partnership is a convenient way to offer your products and services without taking on significant compliance overheads. However, both these structures come with various downsides, such as taxes are calculated at individual tax rates and business liabilities are directly linked with the business owners. It is vital to take the appropriate advice on business structure from the beginning to safeguard your risk position and have appropriate tax planning.
Irrespective of the structure, if your business earns over $75k, you must pay GST and lodge a Business Activity Statement to the Australian Tax Office. If you have any employees in your firm, you will be required to collect taxes on their income and contribute to the Super accounts.
With years of experience, we bring a structured and tailored approach to your sole trading or partnership firm. We proactively plan your taxes to minimize tax liabilities, ensure that they are filed in time, and deliver quality advisory throughout the year. We add value to the process by providing individual tax advisory that ensures you can seamlessly plan your individual taxes alongside business taxes to optimise your overall tax position.
Book a phone or video call (zoom) meeting with our tax advisor to work through your business structure and tax return.
Company or Trust Tax Return
Companies and trusts offer separate legal ownership structures. It offers tax benefits and asset protection to business owners to some extent. The company can offer you a flat tax rate, protect personal assets to some extend, and support the seamless transition of ownership.
Trusts work as an efficient structure to ensure the family’s assets are safeguarded from bankruptcy and do not get eroded by taxes over the years. It also helps in providing a structured distribution of income among beneficiaries and tax planning can be done to achieve optimal tax position for all beneficiaries.
Our team consists of qualified CPAs with years of experience who supported tax and accounting aspects for companies and trusts of all sizes & complexities. We integrate our dedicated service and expertise with our advanced digital workflow and cloud accounting processes that ensure convenient service delivery to your business and trust managers.
We provide advice throughout the lifecycle of trusts and companies on:
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Efficient tax planning to ensure minimal tax liabilities
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Streamlining accounting processes so effective reporting that supports accurate and fast decision making
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Timly GST, Super and Tax filing
Book a phone or video call (zoom) meeting with our tax advisor to work through your Company and Trust tax return.
TidyTax Promise
Relationship-Centric Service Model: Our engagement process begins with establishing a relationship with you and key team members through research of business operations to identify potential areas for efficiencies and value add. We use this intelligence to deliver more customized and focused tax advisory to your business to free you from tax and bookkeeping task to focus on core business management.
Expert-Led Advisory: All our clients get access to CPAs with 10+ years of experience advising trusts, companies, partnerships, and sole traders. We understand the inherent needs of your business and ensure you get only the appropriate and thoroughly-researched advice for your tax and bookkeeping matters.
Custom Solutions: We deliver tailored solutions as and when you need them and can be scaled up and down depending on business growth and needs.
On-Demand Access: Our team is now available on video or telephone calls even after working hours and on weekends to ensure all your tax, accounting, and bookkeeping concerns are addressed as they occur.
Technology-Driven Process for Convenience: Over the years, we have optimised our service delivery process and have created a digital workflow using video conferencing, e-signatures, and cloud technology to create a seamless experience available in the comfort of your home or office.
Round the Year Planning: Your taxes and accounting process are a priority for us throughout the financial year. Our team provides proactive tax planning services along with advisory to streamline your accounts, minimise your tax liabilities, and ensure a timely tax and GST filing.
Competitive, Transparent and Fixed Pricing: As a sole trader, partnership, company, or trust, you would want your overheads to be predictable and efficient. We provide fixed and competitive pricing for our services, which gives you visibility into your expenses for the entire financial year.