Australia is not unique in having a tax system that is complex. But as the tax system becomes more and more complex, the challenge of paying no more tax than you are legally required to pay also becomes more difficult. Even more basic is the requirement to comply with lodgement deadlines. This is not only true for Federal taxes, but also for state taxes such as payroll tax.
But there are many other facets to tax management, including that your business is structured correctly to take advantage of available tax concessions and advantages – not all business structures are created equal. Ideally, the correct structuring choices are made prior to a business commencing and taking account of future plans and expected growth, but where that has not happened or a business has simpl outgrown its existing structure, it may be possible to move to a better business structure without triggering significant tax costs.
In addition, it is critical for businesses that tax considerations are properly factored into commercial decisions where necessary.
Effective management of tax liabilities requires detailed knowledge of the current taxation laws and that is where partnering with a skilled advisor like Daynes Advisory can play a significant role allowing you to leave the taxation complexities to us so you can focus on running your business. Dayne’s people have many years of experience in guiding people and businesses of all sizes through the “taxation maze”.
Our goal at Daynes Advisory is to provide sophisticated and practical advice to our clients at an affordable price. Our specialist team will help to ensure you have the right tax structures and strategies in place to eliminate tax risk and to ensure you pay no more tax that the law requires.
Traditionally the primary services that the small businesses seek from their accountants is the preparation of annual Financial Statements and filing of their annual Income Tax Returns. We offer services in taxation that are best suited to the businesses of all scales. And with ever-changing rules, and an ever more aggressive Tax Office, you want to ensure your Tax Returns are filed at the right time. The services that we offer include:
• Tax Return preparation for individuals and all entities, including superannuation funds
• Comprehensive tax calculations for companies that must recognize Deferred Tax balances
• Expatriate and International taxation
• Employment related tax issues including Fringe Benefits Tax
• Goods and Services Tax
• Business structuring, restructuring; sales & mergers
• Asset acquisitions and disposals
• Capital Gains Tax, including the application of the small business concessions
• Research & Development Tax Incentive
• Tax audit and tax risk management
Our tax team is led by Wayne Manna; a seasoned tax advisory professional with many years of experience advising individuals and businesses about every facet of their taxation affairs.
Daynes Melbourne Office