Trusts
By Trusts we refer to different trusts types including discretionery family trusts, testamentary, deceased estate trusts, etc.
Accounting services that we provide include, but definitely not restricted to the following, are:
* Best advice on most suitable software to maintain your record keeping with regard to nature of your daily transactions
* Assistance on how to record your periodical transactions when it comes to GST amounts.
* Advice on proper set up & outlay for issuing tax invoices and required components to be included in any bill.
* Assistance with your employees’ payroll (wages) and allocating correct amount of compulsory superannuation guarantee on the applicable earnings only.
* Advice when purchasing assets, e.g. motor vehicle, for the business and correct amount to record in your records to reflect business and private use, if applicable.
* BankLink Software, at no additional charges to you, that links us with your bank account(s) and securely download your transactions unto our system which seriously reduces time & effort
* Prepare periodical financial reports for your enity's financial position, i.e. Balance Sheet; financial performance, i.e. Profit & Loss Statement and Assets Register, i.e. Depreciation Schedule.
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Taxation services that we provide include, but definitely not restricted to the following, are:
* Assist you to become familiar with the basic rules and laws, also known as Trust Deed, that govern your entity .
* Register your entity for an Australian Business Number (ABN), Goods and Services Tax (GST) and PAYG regime.
* Inform you of the annual statutory obligations with respect to Australian Taxation Office, Department of Fair Trading.
* Inform you on all the allowable deductions with respect to your work/business and what you need to do to claim all eligible expenses you incurred.
* Assist you when selling or disposing of a business asset and look after Capital Gains Tax implications and Small Business Concessions, if applicable.
* Advice on beneficiaries entitlements and relevant distributions with respect to the latest "Streaming" rules.
* Prepare and lodge Business Activity Statements including GST reporting (cash/accrual basis), PAYG Withholding and Installment.
* Prepare and lodge Trust Tax Returns including Business Schedule, Investments and/or Rental Property Schedule and beneficiaries statements.
