Accountants Sunshine Coast
Looking for trusted accountants on the Sunshine Coast? With over 20 years of experience, our firm helps businesses stay compliant and grow profits through smart tax accounting, strategic planning, and personalised advice.
Integrated Accounting for Resilient Businesses
Our integrated accounting and legal firm gives you access to valuable legal expertise while ensuring you’re in the best possible position for long-term financial success. Whether you’re starting a business or in the process of restructuring, our Sunshine Coast accountants are qualified to assist with tax planning, compliance and business advice.
Business Accounting Services
Speak With a Qualified Business Accountant Today
Discuss your commercial accounting needs with one of Sunshine Coast based accountants. Simply fill out the form to book an appointment.
Tax Planning & Compliance
Tax compliance affects all aspects of your business. In most cases, the sooner you start to plan for the future, the easier it is to protect your assets and ensure your company’s tax burden is minimal. We provide customised planning assistance that’s tailored to your business’ unique circumstances.
Your business will benefit from our integrated legal and accounting services, giving you the essential knowledge you need to steer your company’s decision-making process and best plan for the future.
Plan Ahead to Reduce Your Business Tax
Our goal is to help you pay less tax. Tax planning is about strategising your taxation with the help of pre-existing legislation, in turn, reducing the amount you will eventually have to pay once the current financial period comes to a close.
Some core pillars of tax planning can be relatively simple. As an example, efficiently managing your cash flow helps you more accurately predict your company’s tax bill which provides more accurate data for planning. Superannuation also plays a part in tax minimisation strategies and often has to be put into effect by June 30 in order for the benefits to be maximised.
Accounting Advice to Grow Your Business
As a business owner you understand the need for sound business advice, to provide a strong grasp of your cash flow, manage risk and grow your business. Greenhalgh Pickard’s business advisory service helps you to make the right decisions at the right time to enhance the health of your business, safeguarding its future and protecting the people that rely on you.
No matter how long you’ve been in business or what stage of its growth you’re currently in, the experienced Accountants at Greenhalgh Pickard are able to provide essential guidance to help your business meet is full potential. We combine both business and taxation strategies in our services.
Having a strategy based on experience and sound financial understanding to assist you with key business decisions can be an invaluable resource that inspires confidence. Get the accounting and taxation advice you need to drive the strategic direction of your business forward.
Company Tax Accounting
Our team of Sunshine Coast accountants are able to help you with all business accounting matters, such as:
Reduce the amount of tax your business has to pay.
Reduce your personal tax obligation.
Deal with any queries or concerns that the ATO might have.
Minimise the burden of inheritance tax.
Income Tax, CGT and FBT Compliance Considerations
When looking at income tax you need to consider the implications of other taxes that are often overlooked, such as CGT.
A capital gain is not simply a gain; there are 52 different types, each with different characteristics and ramifications. CGT becomes complex once you start including exemptions, dates and monetary limits.
FBT is also often overlooked but is a simple concept – your employer provides a benefit and pays tax. Employers often make many costly mistakes determining this, however.
If you need accountancy advice relating to tax planning and compliance, call (07) 5444 1022.
Business Activity Statements
Every business registered for Goods and Services Tax (GST) is required to lodge a Business Activity Statement (BAS) to the Australian Taxation Office (ATO) either monthly or quarterly, depending on its specific tax reporting obligations. Our Sunshine Coast accountants can help prepare and lodge Business Activity Statements for your business.
Lodgement dates can tend to creep up for many small business owners who opt for DIY BAS reporting, often causing panic and a hurried attempt to report by the deadline. Yet, errors made in this rush or the due date slipping by unnoticed can prove extremely costly for your business.
Professional BAS services can prevent your business from being exposed to non-compliance penalties issued by the ATO. To protect businesses, legislation permits only registered BAS agents or tax agents to provide services in relation to your business’s BAS obligation.
With vast expertise around BAS liabilities, obligations and entitlements, combined with a reputation for accuracy and unsurpassed attention to detail, Greenhalgh Pickard’s registered BAS agents provide clients with peace of mind in knowing that their BAS lodgement will be compliant and on-time, every time.
Frequently Asked Questions
What is the difference between tax minimisation and tax planning?
Both approaches end with you paying less tax, as tax planning is a form of tax minimisation. Tax planning generally starts later in the financial year to take advantage of rules that can assist reducing tax by EOFY (June 30). Purchases of equipment that attract an immediate deduction and concessional contributions into super are both strategies that could be used. Both have to be paid either in cash or in the case of purchases, contract entered into by the June 30 deadline to be counted in that year.
Tax minimisation is arranging your tax affairs legitimately to reduce income, capital gains tax, and other personal or company tax requirements. To remain compliant of Australian tax laws and your requirements as an individual or company whilst minimising your tax can be difficult. The Australian Taxation Office recognises your right to arrange your financial affairs in the most beneficial way, but we recommend you always conduct your tax planning morally, with a qualified accountant.
How does a BAS agent differ from a bookkeeper?
BAS agents are registered with the Tax Practitioners Board, which oversees and regulates the supply of BAS services.
Registration as a BAS agent ensures that the individual has the necessary qualifications, experience, competence and professionalism to assist with BAS obligations. BAS agents must hold Professional Indemnity insurance. They are also subject to a range of other obligations, administrative sanctions and civil penalties.
BAS agents are subject to a Code of Professional Conduct.
- Honesty and integrity (when acting for you in relation to your money)
- Independence (always acting in your best interests)
- Complete confidentiality (unless directed)
Other than yourself or any employees, only registered BAS agents are permitted by law to deal with the ATO on behalf of your business. In addition to GST, this is in relation to the following:
- Fringe Benefits Tax (FBT) Payments
- Fuel Tax Payments
- PAYG Instalment Payments
- Wine Equalisation Tax (WET) Payments
- PAYG Withholding (payroll)
- Luxury Car Tax (LCT)
Can non-residents make use of tax planning?
Taxation rules typically differ depending on your overall residency status, but if you’re not a full-time Australian resident, there’s no reason why you can’t still reap plenty of tax planning benefits. For example, if you haven’t been in the country for the whole of the past six months, you can gain a sizeable dividend for your Australian business. However, if you have been a resident during that time, you’ll have to pay full tax on the dividends.
How can I reduce my Fringe Benefits Tax (FBT)?
Employers pay Fringe Benefits Tax on any benefits that their workers receive alongside their wages; this can include a company car, a gym membership, or even meals and entertainment at company events. To minimise your FBT, it is vital you keep appropriate documentation, such as a logbook for company cars. Choosing to hold events within your own premises can also lessen this tax – as can sticking with benefits that specifically don’t lead to any extra fringe benefits tax, such as a cash reward for high performance.
When should I start my tax planning?
There is no right or wrong time to begin planning your tax, especially as it is a constant process that should be maintained. You should start it as soon as possible if you haven’t already; proactivity may increase reductions available to you by the end of the financial year.
How do I know if I’m currently paying too much tax?
If you don’t already have a tax planning strategy in place then it’s likely you are paying too much tax. If you don’t have the right structures and techniques at your disposal, then you will inevitably pay more than you need to, either as a person or business. The vast majority of the population are paying more tax than they need to, simply because they don’t know the benefits available to them through sound navigation of complex laws. To take take advantage of our guidance and discuss what tangible results for yourself and others are available, give us a call.
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