Tax Strategy & Advice
Income Tax Return Preparation & submission
Submission of an annual income tax return is a legal requirement for every Australian individual and business. At Leading Account, our highly experienced team can assist you to complete your tax return and minimise tax payable through our comprehensive knowledge of the Australian tax system.
Business Activity Statement preparation & submission
The Business Activity Statement (BAS) is a tax report of business tax obligations. It must be submitted to the ATO monthly, quarterly or annually, depending on how you are registered with the ATO. At Leading Account, our experienced staff will help you to prepare and lodge your BAS on time and give you the freedom to focus on what matters for your business. Tax Office imposes penalties for incorrect BAS reporting and lodgement , so seeking assistance from a qualified accountant is highly advisable.
GST, FBT, WET and other Indirect Tax advice
Australian businesses and individuals operate in a complex tax environment subject to a range of income and indirect taxes. Most indirect taxes are based on transactions rather than revenue, so will be incurred regardless of profitability. The team at Leading Account can advise on indirect taxes and how to minimise the impact to your business.
Capital gains tax advice
A capital gain is a profit made from the sale of property or investments. Capital gains tax (CGT) is the tax you pay on such a profit, and is payable as part of your income tax. There are a complex set of rules prescribed by the ATO with regards to CGT, particularly when it comes to the sale of property, and our qualified accountants are available to help you calculate your CGT liability and advise on strategies to minimise that liability.
International and cross border tax advice
The international tax specialists within the Leading Account team can advise on a range of international tax issues, including structuring overseas investments for maximum tax efficiency, cross-border transactions, and creating global tax strategies to help achieve your business goals.
Tax planning refers to the process of arranging your tax matters in a legitimate system to reduce tax liability. Professional tax planning is advised for all businesses to eliminate your tax risk and exposures and minimise tax impact on your business. At Leading Accountants we provide tax planning services based on sound commercial principles to ensure your business can minimise tax payable whilst remaining compliant with the relevant legislation.
Tax audit assistance
The ATO is entitled to conduct tax audits on any individual or business where they identify a risk of non-compliance. Tax audits can take anywhere from one month to four years, and incur costs that run into the tens of thousands. Leading Accountants are available to guide you through the tax audit process, including representing your business throughout the audit process, preparation of objections to unfavourable tax assessments, preparation of position papers to justify your tax decisions within tax law, and apply for rulings from the ATO to provide certainty on tax outcomes.
Tax effective salary packaging
Salary packaging (sometimes known as salary sacrificing) is a tool to reduce your taxable income through foregoing a portion of your annual income in exchange for benefits of a similar value. Our team will advise you on suitable salary sacrifice arrangements to minimise your tax liability, including advice on benefits subject to Fringe Benefit Tax (FBT).