Companies

1.Income Tax Returns & Financial Statements

  • Minimise your tax
  • Know your results when you need to
  • Maximise the valuation of your business
  • Improve your borrowing capacity and relationship with lenders

First Choice Accounting have a team of accountants who understand the tax system and are able to provide you with taxation advice. We work with a range of clients, from individuals and all types of business's to provide the taxation advice for your circumstances and special needs.

First Choice Accounting's team have the expertise to help your business grow and understand what it takes to help you achieve.

2. Tax Planning

  • Tax minimization planning
  • MAXimise CGT concessions
  • Get advice before the end of the year allowing you to ACT (when it may be too late)
  • Information you need to make the correct decisions for your business

It is always a good idea to speak to us before you make financial decisions. We will work with you to plan how you can reduce your tax costs and help you to take the actions that will keep as much of your hard-earned money in your pocket as is possible.

3. Business Advice

  • Get the business working so you don't need to
  • Create and implement efficient systems
  • Create a winning team
  • Work less
  • Have fun

We are passionate about business and we love to help you succeed.

Our goal is to work closely with you to plan, implement and achieve what you set out to when you first had the idea to get into business.

4.BAS / GST / BOOKKEEPING

  • Accurate and timely bookkeeping
  • BAS preparation and / or review
  • GST advice
  • Set up of appropriate systems
  • Full back office support service

The ATO require all business to constantly report information to them via Business Activity Statements, Instalment Activity Statements and annual income tax returns.

A robust bookkeeping system is an essential basis for the provision of these reports.

Without accurate and timely reports the ATO have the power to impose penalties that could have been avoided.

We will work with you to establish this robust bookkeeping system and will tailor our services to your needs.

We can help with:

  • Data entry and organisation
  • Regular reconciliation and explanation
  • BAS preparation and lodgement
  • Advice along the way

Every quarter you have to lodge a Business Activity Statement (BAS) with the tax office. This is the single form that you fill in, either on paper or online, and return to the Australian Taxation Office to report your obligations and entitlements regarding:

  • Goods & Services Tax – GST
  • Pay As You Go (PAYG) withholding
  • PAYG Instalments
  • Deferred company tax
  • Fringe benefits tax instalments
  • Wine equalisation tax
  • Luxury car tax
  • BAS

Or to save more of your valuable time First Choice Accounting will do this for you. We put together all your transactions for the quarter and prepare a summary BAS for your review. We then carefully examine the records, ensuring all GST input credits are recorded before preparing a final Business Activity Statement. A qualified Accountant then checks the BAS for accuracy and then we can either lodge it for you or you can lodge your BAS.

RECENT NEWS

Changes to the super guarantee and upper age limit

From 1 July 2013 the super guarantee increases to 9.25% and the upper age limit has been removed. This means employers may need to make super guarantee payments for...

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Medicare levy increase affects small business

The Medicare levy increase – from 1.5% to 2% – will effectively bring the top marginal tax rate to 47%. This will not only impact...

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Changes to simpler depreciation rules

The small business instant asset write-off threshold has been increased from $1,000 to $6,500 for the 2012-13 income year. As a result, small businesses can claim an accelerated initial deduction...

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BAS/GST/Bookkeeping

The ATO require all business to constantly report information to them via Business Activity Statements, Instalment Activity Statements and annual income tax returns. A robust bookkeeping system is an essential basis for the provision of these reports. Without accurate and timely reports the ATO have the power to impose penalties that could have been avoided.

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Negative Gearing

Negative gearing is a form of leveraged speculation in which you borrow money to buy an asset, but the income generated by that asset does not cover the interest on the loan (Interest > Income). In general, the deficiency is used to reduce the tax you must pay on income from other sources.
Like most things there are also downsides to negative gearing...

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SALARY SACRIFICE

A salary sacrifice arrangement is also commonly referred to as salary packaging or total remuneration packaging. It is an arrangement between an employer and an employee, where the employee agrees to forgo part of their future entitlement to salary or wages in return for the employer providing them with benefits of a similar value.

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SMSF MANAGEMENT

Remove the hassle out of running your SMSF and engage us to do everything for you. Take comfort knowing that we, along with the trusted qualified advisors (auditor, financial planner) we have a long history with, care about you and will do all we can to ensure you spend less time worrying about taxation/compliance/legislation and more time enjoying your retirement!

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