FAQ
When should I talk to an accountant?
We like our clients to feel they can talk to us at anytime to discuss what they have in mind.
It’s much less expensive to get advice before you start then to have to pick up the pieces after some decision has been implemented and resulted in unintended adverse consequences.
Where it is appropriate we can model results for you and show you what is likely to happen.
What tax deductions can I claim?
It depends on your industry and occupation. The ATO has an extensive list of allowable deductions personalised for certain industries and occupations.
Also, make sure you’re keeping your receipts and tracking your expenditure in a systematic, organised way. You can’t claim what you can’t prove!
Can you advise me on my investments?
If you’re looking for investment advice, we can advise you on the tax consequences of what it is you want to do. For investment advice, we can refer you to trusted licensed investment advisors.
It is our long-standing policy not to accept commissions or kickbacks.
What should I do if I change my details including name or contact details?
Let us know as soon as possible.
Do I need to keep a copy of my taxation records?
You have to keep your records for 5 years from the date you lodge your return.
If you’re in dispute with the ATO at the end of this period, you’ll need to keep the records until this is resolved.
How do I choose the best structure for my business?
There are a lot of factors to take into consideration, such as:
- your current and expected income
- your assets
- the size of your business
- the amount of liability you want
Your choice of structure will affect the amount of tax you pay, the reporting obligations you have and also what liabilities you may have.