Accounting and Taxation Services
Affinity Accounting Services offers a full range of taxation and accounting services from general tax advice to detailed tax effective planning and more. We pride ourselves on working in partnership with you to minimise your tax and help you achieve your goals with our proactive approach and consistent service.
We provide advice in all areas including:
Income Tax Returns
We ensure that your financial affairs are managed in a way that is both tax effective and compliant within the law. We can assist with:
- Income tax returns on behalf of individuals, companies, trusts, partnerships and Self-Managed Superannuation Funds (SMSFs)
- Australian Taxation Office (ATO) investigations and disputes
- Applications for ATO private binding rulings
- Capital Gains Tax (CGT) advice
- Small business CGT concessions
Goods and Services Tax (GST)
The GST system can place pressure on business with compliance and lodgement obligations. Our highly qualified team can help you navigate the GST system and ensure your records are maintained accurately. We can assist with:
- Preparation and lodgement of Business Activity Statements (BAS) and Instalment Activity Statements (IAS)
- Advice regarding GST matters
- Assistance with ATO investigations and disputes
- Reviewing data entry and advising of any issues affecting data integrity
- Specific GST advice for business and property transactions
Fringe Benefits Tax (FBT)
Fringe Benefits Tax (FBT) can be a complicated area of the taxation system and employers are often unaware of their obligations. Our team will assist you to identify benefits provided to employees and prepare FBT returns for lodgement. We specialise in solutions to tailor salary sacrificing options to suit you and your employees.
Common fringe benefits to consider are:
- Expense payments
- Living-away-from-home allowances
- Car parking
- Entertainment and meals
- Other employee benefits
Depending on state legislation, payroll tax may be payable when your business (or business group) total Australian wages exceeds a threshold. We will ensure you are aware of your reporting obligations for payroll tax and to assist you with the preparation and lodgement of your payroll tax returns.
Services we offer include:
- Assisting with the preparation of payroll tax returns and annual reconciliations
- Advice on payroll tax and reporting obligations
Tax Planning and Minimisation Strategies
Affinity Accounting Services specialise in providing proactive tax planning advice for all our clients. We believe you need to be aware of future tax liabilities, educated in managing your taxation affairs and be aware of available options to minimise your tax position.
Tax legislation can be complicated. With good advice and professional help throughout your working life, you can proactively manage and minimise your tax position.
- For employees, there are a range of strategies to consider including negative gearing, salary sacrificing into superannuation, salary packaging and maximising work related deductions.
- For businesses, strategies include choosing the right business structure, splitting your income, superannuation, maximising your business deductions and tax rate management.
If you are not receiving the advice you need or are considering a new project or venture, call us to discuss how we can guide you in the most tax efficient manner within the boundaries of the law.