We take a pro-active approach to work with our clients to conduct end of year tax planning before 30 June. This gives clients an insight into their likely tax situation before hand as well as to plan ahead for the coming year to give them the best returns possible.
We prepare income tax returns for companies, trusts, self-managed superannuation funds, and individuals. We can also prepare Fringe Benefits Tax Returns where required. We also prepare all relevant schedules that may be required within your income tax return. For example rental property schedules, Capital Gains Schedules, and small business schedules.
We can prepare your monthly or quarterly Business Activity Statements (BAS) or your Instalment Activity Statements (IAS) for you. Although, we understand that this is not of everyone. We also offer training where we work with you to teach you how to prepare them yourselves to make you more accountable to your business. We believe this gives you a better insight into how your business is performing, and we are only involved in the end of year tax planning and review stage. Feedback from clients indicate that this is the preferred method.
Selling your business and concerned about the potential capital gains tax implications? This is a complex area, and the laws surround this can be very confusing. We specialise in working with small businesses and reviewing the SBE Concessions eligibility when selling a business to achieve the best possible results for our clients. Engaging an accountant specialising in this area can see your life long business investment pay little to no tax.
We also prepare capital gains schedules for the disposal of investment properties, shares, managed funds and other investments.
Accounting software assistance in XERO and MYOB
Our staff are qualified and experts in Xero & MYOB. While we can work with any software that you use, we also offer training assistance with Xero and MYOB. The benefit of using accounting software in the cloud is that your accountant can help you out during the year without the need for posting or emailing back-up copies of accounting files. Issues can be handled promptly (usually while you are on the phone to us), and feedback can be given as to the correct way of handling future issues.
Financial reporting for all entities
Too often we see short cuts being taken. If you are a Trust or a Company you are required to have a statutory set of financials. We will ensure that all your compliance needs are met with a full set of financials, including annual minutes each year, when your tax returns are completed.
We are specialists in the area of superannuation and offer complete SMSF administration. We work with state of the art software, and utilise technology where possible. Our software provider (BGL) allows us to receive your data through bank feeds; contract note downloads and share transactions instantly without the need for you to provide original source documents. We do not outsource any of our work, and all work is completed in house by our own experts. We believe that your work should only be completed by the people you engage, and we have made a promise to our clients that we will not outsource to other countries.
ASIC Registered Agent
Selling Shares within your company? Changing Directors and not sure what forms you need? We can prepare all the necessary documents required to complete these actions effectively and legally. We can also submit them to ASIC on your behalf within the required time-frames to ensure that your ASIC compliance needs are met.
Business Valuations and Due Diligence
You would never buy a second hand car without a roadworthy, so why would you buy a business without a history check? Whether you are buying a business or selling one, it’s a good idea to conduct a business valuation. We can offer comprehensive analysis of your potential purchase and highlight any concerns identified. We also value the potential business and compare against the asking price to allow you to make an educated decision on the business under review.
New business setups and restructuring
Too often we see clients with the wrong structure for their business. This can result in larger than normal compliance fees (too many entities), hidden costs, high tax bills, and open the client up to litigation if trading under the wrong entity, or using the wrong ABN. Most clients aren’t even aware of the type of structure they have, and why they have that structure. We are advocates on client education. We will review your business structure and provide advice on our recommendations. We will also discuss with you why this structure is the best structure for your business needs. We can also set up your new entity on your behalf, and make the whole process as easy as possible.
“A digital signing experience”
P&L Accountants strive to be innovative in the industry, and now offer a new signing experience. As we are a paperless office and strive to keep up with the latest technology, the next logical move was to incorporate digital signatures into our signing process. All documents where possible will be sent electronically and requested to be signed through the DocuSign© portal. This is a free service provided to our clients aimed at speeding up the signing process as well as to provide a more efficient signing platform. We have clients all over Australia in difference areas of remoteness, so this option eliminated the need for posting, printing and scanning.
Documents are able to be signed on a smartphone, tablet or computer using your own signature or you can follow the prompts within DocuSign© for other methods. Please refer to the FAQ for more information.
A Year of DocuSign:
Now that we have been using DocuSign for over 12 months we can look at the stats. Our document signing turnaround time has increased dramatically! We’ve sent over 745 documents to be signed in the last 12 months and most of them were completed within the hour. Documents can be updated in real time for corrections, and just about anything can be signed electronically. Our clients love the ease of it, and how it has improved their compliance.