Company Tax returns

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COMPANY TAX RETURNS

If you are running your business as a company, you must file a Company Tax Return every year and you must still send a return even if you make a loss or have no Company Tax to pay. 

WHAT IT INVOLVES

When you file your tax return, you work out your:

• Profit or loss for Company Tax 
• Company Tax amount
• File your tax return.
• Company tax returns are generally due by 28 February each year. 

MAIN ADVANTAGES TO OPERATING AS A COMPANY

• Limited liability for each shareholder.
• It does not cost too much to set up a company.
• Its easy-to-get loan for the business. 
• Company tax rate is fixed and can be more favourable than the      personal tax rate.
• Company tax paid becomes franking credits and can be claimed back      from ATO in the future.
• There are no trading location restrictions for the company in Australia.
• One company can run multiple businesses.
• Family members can work for the company.
• Company profit can be used for loan application purposes.

What Services we provide for a company?

• Preparation of a full set of financial reports, including balance      sheet, profit, and loss statements, notes to financial statements,      depreciation reports, tax reconciliation reports, director loan reconciliation reports, Division 7A loan agreements.
• Preparation and lodgement of Business Activity Statements.
• Preparation and lodgement of company tax returns.
• Providing advice on tax planning, cash flow management, business      growth strategy and risk management etc.

We’re proud to provide our services to businesses in Werribee, Wyndham Vale, and Manor Lakes, Hoppers Crossing, Tarneit, Truganina, Williams Landing and Point Cook. We also provide services in greater Melbourne with all their accounting needs.