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For most of us, taxation has a major impact on our
lives. We all need to pay tax but we also need to
ensure that we only pay the correct amount of tax.
If you operate a business then taxation has a direct
impact on many day-to-day aspects of your business,
not the least of which is cash flow. Our Crest
Accounting tax
specialists can help you in this area so that you
can concentrate on running your business.
Businesses usually need advice on more than one area
of tax. The areas of taxation that we specialise in
include the following:
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Income tax
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Capital Gains Tax
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Goods and Services Tax
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Fringe Benefits Tax
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Tax
on superannuation
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State taxes
Our staff at Crest Accounting will help you to understand the
complexities of the tax law and help you with your
tax planning.
Income Tax
We will help you with your personal income tax
return and that of your business. Our tax
specialists will help you understand which laws are
applicable to you. No matter how simple or complex
your tax issues are, we will help you to complete
and lodge your tax return with a minimum of fuss. If
a refund is expected we can also arrange your fee to
be paid from your tax refund.
Our income tax expertise covers tax issues related
to:
Capital Gains Tax
Capital Gains Tax (CGT) is a complex area of tax law
and applies in relation to gains made from the sale
or disposal of any asset. There are of course some
specific exceptions, such as the family home. But
even this may be subject to CGT if it has been
rented out previously.
The CGT system is very complex. Our staff will help
you with issues such as:
Goods and Services Tax
The Goods and Services Tax (GST) is a broad based
tax of 10% on most goods or services that are sold or consumed in Australia. Complying with the
GST system is a complex and time-consuming process
for most businesses.
Our staff will help you with your GST so you can
focus on your business.
Our GST expertise includes:
Fringe Benefits Tax
Fringe Benefits Tax (FBT) is a tax payable by
employers for benefits paid to its employees. FBT is separate to income tax and is based on the
taxable value of the benefits provided to employees.
If your business provides fringe benefits to
employees (such as motor vehicles) then you need to
comply with the FBT system.
Our staff will assist you on the following FBT
matters:
Tax on Superannuation
Superannuation may be taxed at various points,
depending on the circumstances at the point of
contribution to a fund, on investment income and at
the time benefits are received. A superannuation
guarantee charge may also be payable by employers if
contributions are not made by the requisite date. If
you contribute too much to your fund, an excess
contributions tax may be payable.
Our superannuation tax expertise will assist you in
dealing with:
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Meaning of employer and employee
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Determination of salary and wages
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Minimum superannuation support (employer
obligations)
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Calculation of notional earnings base
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Superannuation guarantee charges
State taxes
Land Tax
This is an annual state tax based on the ownership
of land. In New South Wales, land tax is levied on
the total unimproved value of the land held at 31
December.
Our staff will assist you with determining your land
tax:
Payroll Tax
Payroll tax is a tax levied on the wages paid by
employers. It is calculated on the amount of wages
that you pay each month. If your total Australian
wages exceed the exemption threshold that applies in
New South Wales, you are required to pay payroll
tax.
Our staff will help you determine all your payroll
tax matters including:
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Liability
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Registration and grouping provisions
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Determination of “wages” for payroll tax
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Exempt payments
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Treatment of allowances
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Fringe benefits, including motor vehicles
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Payments to contractors
Financial
Services
Our extensive
array of Financial Planning Services are provided by
our qualified Crest Financial Services team.
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