Tax Compliance

At The Board of Advisors, we offer a full range of tax services designed to meet the needs of sole traders, partnerships, trusts, and businesses of all sizes. Our expertise ensures compliance with tax laws while maximizing savings and efficiency.

Low-Cost GST Preparation and Lodgement for Sole Traders

Sole traders often face time and cost constraints when managing their tax obligations.

We provide:
- Affordable GST Preparation: Accurate and timely GST calculations based on your business activities.
- Lodgement Services: Hassle-free filing with the ATO, ensuring your GST is lodged on time and in compliance with regulations.
- Tailored Advice: Expert guidance on GST exemptions and deductions to help you minimize your tax burden.

Low-Cost BAS Preparation and Lodgement for Companies, Partnerships, and Trusts

Businesses operating in various structures have more complex tax obligations.

We offer:
- BAS Preparation: A complete service covering Goods and Services Tax (GST), Pay-As-You-Go (PAYG) withholding, and PAYG installments.
- Lodgement Services: Cost-effective BAS lodgement for companies, partnerships, and trusts, ensuring full compliance with ATO requirements.
- Ongoing Support: Quarterly or monthly reviews of your financials to keep your BAS filings accurate and up-to-date.

Low-Cost Tax Returns for All Businesses

Tax returns can be time-consuming and stressful, but our experienced team makes it easy:

- Tax Return Preparation: We provide accurate and compliant tax returns for businesses of all sizes, including sole traders, companies, trusts, and partnerships.
- Maximizing Deductions: We ensure that all eligible deductions are claimed, reducing your tax liability and increasing your cash flow.
- Lodgement and Support: From preparing your return to lodging it with the ATO, we manage the entire process and offer support during ATO reviews or audits.

Low-Cost Payroll, Receivables, and Payables Outsourcing

Managing payroll and financial transactions can be a significant burden for small and medium-sized businesses.

We offer:
- Payroll Outsourcing: Efficient management of employee payroll, ensuring compliance with tax and superannuation obligations.
- Accounts Receivable and Payable: We handle your invoicing and payments, helping you maintain smooth cash flow and ensuring timely payments.
- Cost-Effective Solutions: Our outsourced services are designed to provide the financial oversight your business needs without the cost of hiring in-house staff.

At The Board of Advisors, we understand that tax compliance is a critical aspect of running a business. Our tax compliance services are designed to ensure that your business meets all statutory obligations while minimizing risks and maximizing opportunities for tax savings. Our expertise in various tax laws allows us to offer tailored solutions for businesses of all sizes, ensuring accurate and timely filings with the ATO.

Filing annual income tax returns can be complex, especially with constantly changing tax regulations. We offer comprehensive tax return preparation services for individuals, sole traders, companies, partnerships, and trusts. Our team of tax experts works diligently to ensure that all income sources, deductions, and offsets are accurately reported, minimizing your tax liability while ensuring compliance with the Australian Tax Office (ATO). We take the stress out of tax season by handling all aspects of the return, from gathering the necessary documentation to lodging your return on time.

Business owners are required to submit Business Activity Statements (BAS) and Instalment Activity Statements (IAS) to report and pay several tax obligations, including GST, PAYG withholding, and PAYG instalments. We provide a full-service BAS and IAS preparation and lodgment solution, ensuring your statements are accurate and submitted on time. Our team ensures that you claim all entitled GST credits and manage PAYG obligations correctly, giving you peace of mind that your business is compliant and penalties are avoided.

Payroll tax compliance is crucial for any business with employees. We provide a full suite of payroll processing services, including the calculation of wages, superannuation, and leave entitlements. Our team also manages PAYG withholding (PAYGW), ensuring the correct amounts are withheld from employee salaries and reported to the ATO. With our services, you can be confident that your payroll obligations are met on time, and your employees are paid accurately and in compliance with all tax regulations.

Payroll tax is a state-based tax levied on businesses with a payroll above a certain threshold. Each state has different thresholds and rules, which can make payroll tax compliance challenging. We provide payroll tax preparation and lodgment services, ensuring your business meets its state payroll tax obligations. Our team stays up-to-date with changing state tax laws to ensure accurate reporting and to help you manage your payroll tax liability efficiently.

Some businesses may be eligible for a GST deferral scheme, which allows for the deferral of GST payments on imported goods until the BAS lodgement, improving cash flow. We assist businesses in determining eligibility for the GST deferral scheme and manage the application process on your behalf. Once approved, we ensure proper accounting of deferred GST liabilities to maintain compliance with ATO regulations.

Our expertise extends to specialized taxes such as Fringe Benefits Tax (FBT), Capital Gains Tax (CGT), and Taxable Payments Annual Report (TPAR) compliance:

- Fringe Benefits Tax (FBT): We help businesses calculate and report FBT liabilities arising from non-salary employee benefits such as cars, entertainment, and loans.
- Capital Gains Tax (CGT): Our team provides expert guidance on the tax implications of selling assets, ensuring accurate CGT reporting and the application of any available exemptions or concessions.
- Taxable Payments Annual Report (TPAR): Businesses in certain industries, such as construction and cleaning, must report payments made to contractors. We assist with the preparation and lodgement of your TPAR to ensure compliance with ATO requirements.