Tax Accountant in Cannington

During the tax preparation period, every Australian who makes $18,200 or more than that, annually are expected to file tax returns with absolute honesty. One might have to bear penalties and fines if one fails to file them. For filing, one can rely on well-known tax accountant in Cannington and also get help in claiming tax refunds, as applicable.

Universal Taxation is a one-stop accounting firm in Cannington that can offer advice on tax return filings and even get it done on their client’s behalf. The firm provides all tax-related services under its taxation service department.

Individuals and companies can benefit significantly in partnering with a well-known tax returns accounting firms that can offer extensive information about taxes as a tax accountant in Cannington.

The tax advisors can also aid in future tax planning and even in accounting services while lowering tax liabilities for clients. The testimonials reveal that clients laud this firm for affecting some of the quickest tax refunds in Cannington.

The taxation period, which commences from 1st of July to 30th of June of every year necessitates the returns to be filed by 31st October of the year. Those who fail to do so, need to get still it done even after the deadline.

Contact Universal Taxation, who can offer tailored payment plans for tax return filing based on business priorities. Additionally, our accounting firm can do much more than tax filing and preparation, with bookkeeping services to international accounting services.

We ensure that your money is in safe hands, without affecting the market volatility, using the same for maximum advantage. The firm can also offer payroll services, with optimal results and reduced risk too.

Let us know about your needs, today!

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    Why Work with Universal Taxation?

    500+ Clients
    12+ Years of Experience in Taxation
    Individual Tax returns at $99*
    Highly conversant with tax laws in Australia
    Maximum tax savings with low tax liability assurance
    Maximum saving of time and money
    Helps avoid common pitfalls with expert guidance

    What our Cannington Tax Return Clients are Saying About Us

    I have been using universal taxation for about 6 years… they are the best tax accountants I have come across.. thanks

    sandeep-prashar– Sandeep Prashar

    Absolutely the best taxation people in town!

    Keep up the good work!

    rashvir-dhanjal – Rashvir Dhanjal

    Being going the past 3 years!

    Great friendly service and affordable price

    danielle-marie– Danielle Marie McTaggart

    Frequently Asked Questions about Tax Return in Cannington

    What do you do with my personal information?

    As per our Privacy Policy, your personal information will remain in our secure database. After the tax return is ready for lodgement, the info will be electronically dispatched to the ATO via a direct, secure link. The information will not be disclosed to any third party without your explicit prior consent for the same.

    Can I claim anything for the cost of my children’s education?

    Families who receive Family Tax Benefit Part A can claim $422 for each child studying in primary school, and up to $842 for each child studying in secondary school.

    What sort of travel expenses can I claim on my tax?

    You can claim the following travel expenses on your tax return:

    • Accommodation: Costs incurred for overnight stays.
    • Miscellaneous Expenses During Travel: Such as laundry or Wi-Fi charges.
    • Travel Fares: Airline, train, or bus fares that are work-related.
    • Bridge and Road Tolls: Tolls paid while travelling for work.
    • Parking Fees: Costs incurred for parking while on the job.
    • Car Rent Charges: If you had to rent a vehicle for work-related travel.
    • Meals: Only if the work required an overnight stay.

    What are deductible expenses for a small business?

    Deductible expenses can vary depending on the nature of your business. Common deductible expenses include rent, employee wages, utilities, business travel, and certain types of equipment. Always consult with a professional to understand your entitlements better.

    What is GST, and how does it affect my business?

    Goods and Services Tax (GST) is a 10% tax applied to most goods, services, and other items sold or consumed in Australia. If your business is registered for GST, you’ll need to add this tax to your sales and can also claim credits for the GST included in your business purchases.

    What is a BAS statement?

    The Business Activity Statement (BAS) is a tax reporting requirement for businesses issued by the Australian Taxation Office (ATO). It helps businesses report and pay taxes such as GST, Pay As You Go (PAYG), and other tax obligations.

    How often should I update my business plan?

    A business plan isn’t a set-and-forget type of document. Ideally, it should be reviewed and updated annually or whenever there is a significant change in your business circumstances. Regular updates help in keeping your strategies aligned with your business goals.

    What is capital gains tax?

    Capital gains tax (CGT) is the tax you pay on the profit made from the sale of an asset such as property, shares, or bonds. There are specific exemptions and discounts, so it’s crucial to consult a tax professional to optimise your tax position.

    How can I improve my business’s cash flow?

    Improving cash flow can involve multiple strategies like speeding up invoice payments, reducing operating expenses, or renegotiating contracts. The approach will differ depending on your unique business situation.

    How do depreciation and amortisation affect my business?

    Depreciation and amortisation are accounting techniques that spread the cost of long-term assets over their useful lives. While they don’t directly impact your cash flow, they do affect your business’s profit and loss statement, and therefore your tax obligations.

    What should be included in a financial statement?

    A standard financial statement typically includes a balance sheet, income statement, and cash flow statement. Each serves a different purpose but collectively provides an accurate financial portrait of a business.

    What’s the difference between a bookkeeper and an accountant?

    While both deal with financial data, a bookkeeper generally handles the day-to-day financial transactions and record-keeping. An accountant, on the other hand, has a more strategic role, focusing on tax planning, business analysis, and financial reporting.

    Can I claim the home office as a business expense?

    Yes, if you work from home and have a dedicated workspace, you may be able to claim a portion of your home expenses like rent, utilities, and internet charges. The specifics can vary, so consult a tax advisor to understand your eligibility.

    Still can’t find what you’re looking for?

    If you have more questions or need further clarification, feel free to dive deeper into our comprehensive FAQ section.

    Read All FAQ

    Navigating through taxation and business procedures doesn’t have to be complicated. Our FAQ section aims to make things clearer for you. But remember, for bespoke advice tailored to your individual circumstances, it’s always a good idea to consult with professionals.