Prime Tax Experts offer tailored advice for different types of businesses to ensure you get the most from our service. Please see various areas we cater for below:

Representation

Dealing with a large organisation such as the ATO can be frustrating at times and seem to have little to no progression. Many individuals find it difficult to communicate with the Tax Office because they are unfamiliar with the process.

Being represented is not only important but is also helpful. Many benefits come from having a tax agent speak on your behalf. As tax professionals, we have a variety of resources available to use to help resolve any tax issue faster than you would be able to do yourself. We can help you with tax debts, payment arrangements, late lodgment penalties, PAYG installment downwards variations, bungled assessments and numerous other problems that can occur in the tax lodgment process. Whether we prepared the tax return or not, we offer the same services to anyone who appoints us as their tax agent.

  • Tax Office Audits – Representation and handling.
  • Objections to ATO assessments.
  • Negotiating tax payment plans
  • Private Ruling applications.
  • Requests for information.
  • Changes to registration details.

 

Tax advice for Creative Professionals and Creative Businesses

  • Thorough and personalised advice on claiming all the allowable deductions and tax offsets specific to your industry.
  • Income averaging for special professionals.
  • Prior tax year amendments.
  • Tax effective planning for artists’ grant income and business losses.
  • Cultural Gifts Program: tax-effective donations and related applications.
  • Film Industry Incentives and Tax Offsets.

 

Tax Advice for Home Buyers and Investors

  • Tax Planning for Rental Properties and Investments; Negative Gearing.
  • Capital Gains Tax (CGT); maximising Cost Base savings and Main Residence exemptions.
  • GST-free going concerns – checking claims, and handling adjustments.
  • Preparing Certified Asset Registers.
  • Capital Works Depreciation Schedules (outsourced)
  • Referral to mortgage brokers and financial planners.

 

Help managing your business

At Prime Tax Experts we consider ourselves so much more than just your tax return agent for your business. We can provide invaluable advice and consultancy on various matters that you may not have even considered. See some areas that we can help you manage below:

  • Business Health Check: Monitoring changes in business performance, reviewing changes in performance and against industry benchmarks.
  • Business budgets for management, planning and expansion.
  • Money and wealth analysis:
    • Equity (how much is your business worth),
    • Cashflow (what is going in and out of the bank),
    • Profit (whether the business is making money on paper) and
    • Surplus (how much money is available for drawings or reinvestment).
  • Preparation of financial statements, audit statements and management reports;
  • Expenses and Assets – are you getting a good return for your deductions?
  • Cashflow Management: receivables, payables, terms of trade.

 

Tax and Compliance Assistance

  • Tax Returns and Financial Statements for Companies, Partnerships and Trusts.
  • Annual ASIC filing.
  • Business Activity Statements (BAS).
  • Payroll Reporting and PAYG Statements.
  • Employee entitlements and termination payments.
  • Superannuation Guarantee Charge Statements.
  • Annual Fringe Benefits Tax Returns.
  • Workers Compensation renewal applications.
  • Annual Land Tax paperwork

 

Referrals

Our strengths lie in tax returns and accountancy, we don’t pretend to be experts at everything. This is why we have built a strong referral network over the years to ensure that our clients are
working with the best. We have a referral network of trusted specialists for:

  • Business coaching
  • Legal advice
  • Mortgage broking
  • Financial planning
  • Insurance
  • SMSF’s
  • Quantity surveyors for property depreciation
  • Agents for overseas tax lodgements.

If you would like to know more or would like to speak to us about a referral for any of the above services please give us a call on 02 93691623 today.