Accounting & Taxation

Accounting & Taxation

We believe accounting services should be straight forward and stress-free. By providing bookkeeping, accounting, and taxation solutions we will work with you to manage your cash flow and meet your tax obligations.

Compliance is of the upmost importance but we also believe in offering quality management advice and support. We are committed to offering the highest level of friendly and professional service and welcome the opportunity to work with you.

The areas we specialise in are as follows:

• Accounting & Tax Consultancy Services
• Personal & Business Tax Returns
• Business and Tax Advisory
• ATO correspondence Management
• Self-Managed Super
• Cloud accounting options......

Business Accounting

Business Accounting

You concentrate on running your business and let us take care of your business accounting and taxation requirements.

Some of the services we can offer your business include:

• Accounting and bookkeeping
• Accounting software advice and assistance
• Business & company tax returns
• Taxation – GST & PAYG advice, BAS preparation
• ATO liaison when required
• WorkCover advice and support
• Audit advice & audit insurance
• Superannuation for you and your staff
• Business ‘start up’ advice
• Prepare Business plans and financial budgets and review regularly
• Measure your performance against industry benchmarks
• Trust & company structures
• Business Insurance.

Personal Accounting

Personal Accounting

We offer a range of Personal Accounting services for individual employees but our most popular service is assisting with the completion of individual tax returns.

Tax returns can be complex and there are often allowable tax deductions and expense claims available that our clients are often not be aware of. We can help you minimise your payable tax and potentially increase your tax return plus make sure your tax return is lodged on time.

We also offer advice on:

• Investment properties, tax and negative gearing
• Tax & share investments
• HELP (higher education loans) debts
• Superannuation advice
• Advice on setting up a self-managed super fund (SMSF)
• Late tax returns.

SMSF

Self-Managed Super Funds (SMSFs) in Blackburn and Surrounding Areas

If you’re a business owner or self-employed, you can set yourself up for a comfortable, enjoyable retirement with a self-managed super fund. TBT Accounting can help establish and maintain your SMSF for business owners throughout Melbourne’s Eastern Suburbs.

What is a Self-Managed Super Fund?

A Self-Managed Super Fund (SMSF) is a private superannuation fund managed by you, the individual, instead of retail or industry super funds. SMSFs offer you the choice of investment and insurance, but they are also closely scrutinised by the Australian Taxation Office (ATO). Annual audits are required to ensure routine compliance checks, making expert guidance essential.

How TBT Accounting Can Help

At TBT Accounting, we specialise in SMSFs, offering a range of services:

• Setting Up SMSFs: We help you establish your SMSF with precision.
• Ensuring Compliance: We ensure your SMSF complies with regulatory requirements.
• Independent Auditing: Our team provides independent auditing services to maintain transparency and compliance.

Business Advisory

Business Advisory

Our main aim is to help clients grow, develop and strengthen their businesses. Small, medium or large businesses all benefit from receiving expert help in areas such as strategy development, management accounting, cost analysis and budgeting. Such help is very important to attaining their short and long term objectives.

Our aim is to enable you and your business to maximise potential and profitability. We do this by providing the highest level of technical and commercial solutions to resolve issues that might impair the attainment of these outcomes.

Our expertise and time will help you attain your goals.

We specialise in the following:

• Corporate Structure
• Strategy development and facilitation
• Strategic management reporting
• Budget preparation and review
• Updating your business plan
• Business value maximisation
• Systems review
• Financial diagnostic analysis
• Cash flow and profitability
• Business succession planning and implementation
• Business valuations for acquisition or sale
• Estate planning
• Asset protection structuring.

Business Start-Ups & Structures

Business Start-Ups & Structures

There are four main business structures commonly used by small businesses in Australia and we can help with them all:

Sole trader: an individual operating as the sole person legally responsible for all aspects of the business.

Partnership: an association of people or entities running a business together, but not as a company. A partnership is relatively inexpensive to set up and operate.

Company: a legal entity separate from its shareholders.

Trust: an entity that holds property or income for the benefit of others. Trusts require a formal trust deed that outlines how the trust operates, requires the trustee to undertake formal yearly administrative tasks and if you operate your business as a trust, the trustee is legally responsible for its operations. A trustee of a trust can be a company, providing some asset protection.

It is important to note that you can change your business structure throughout the life of your business.

We can help with the following:

• Corporate Structures
• Updating your business plan
• Business value maximisation
• Systems review
• Sustainability
• Strategic planning
• Financial diagnostic analysis
• Cash flow and profitability
• Corporate compliance
• Formation of trusts and new company registrations
• Provision of registered office services for service of notices
• Attending to ASIC returns and regular filings on your behalf
• Business name registrations and maintenance
• Preparing minutes and drafting resolutions.

Cloud Accounting

Cloud Accounting

Cloud accounting is based on your accounting software being stored online and accessed over the Internet. This allows you, your staff and your accountant to gain access from any location plus software and tax tables are automatically upgraded and data backups automatically managed.

Our solutions will help your business take advantage of an eco-system where your accounting software is the centre of all your information. From manufacturing and inventory, to customer relationship management (CRM), to rostering/timesheets and payroll, you will be in control of every aspect of your business. All is supported by comprehensive reporting.

Do not hesitate to contact us for an obligation free consultation session on business software solutions. With customised solutions, discounted software subscription, hands-on and personal training, we are committed to deliver you a quality of service that will meet and even exceed your expectations.

Auditing

Auditing

There are many reasons why a business or association may need to be audited. These include audits regulated by ASIC, government departments and licensing authorities.

You may wish for your business to be audited to ensure your financials are all correct, up to date and compliant with Australian accounting standards.

We offer ongoing support for annual audits and can discuss audit insurance for your business.

Self-managed super funds (SMSFs) are required to be audited annually.

Our business auditing services include:

• Statutory Audits
• Specialist Reviews
• Business Risk Reviews
• Self Managed Superannuation Fund Audits
• Due Diligence reviews

Accounting Videos

Please enjoy the links to these free tools supplied by MoneySmart - a great resource for general financial information. Please get in touch if you would like to discuss any questions that you may have as a result of using these calculators.

Useful Links

Tax Diary

Tax Deductions