It doesn’t take an army to prepare a company tax return…
Most accounting firms will have a piece of work prepared by a junior, reviewed by a manager and then re-reviewed by a partner. After the partner has reviewed it, the partner will have a meeting with the manager about it. And then the manager will have a meeting with the junior about it.
1. Appoint me as Company Tax Agent & pay your fees
New clients pay upfront (credit card welcome), returning clients on account.
2. Send me your P&L and Balance Sheet
I’ll prepare the Company Tax Return from the information you send us..
3. I’ll Email You the Company Tax Return
Review the Company Tax Return, sign it and then we’ll lodge it.
Company Tax Returns Without the Bells and Whistles
It’s not about being cheap, it’s about being efficient. Your company tax return will be prepared by a Registered Tax Agent who appreciates that small business will generally have more important things to spend money on than compliance. Because it’s not being handled by multiple accountants you’re not racking up expensive time billing for something that can be done right the first time.
Who Will Be Completing My Company Tax Return?
My name is Ben Collins, and I’m the one who will be preparing your company tax return. I have a Bachelor of Taxation from UNSW and have completed the CPA Program. I am a Registered Tax Agent and Fellow of the Tax Institute of Australia. I personally lodge thousands of tax returns every year.
Does my Company Need to File a Tax Return?
Every Australian corporation will need to file a Company Tax Return if the company transacted in the financial year. If there were no transactions, the company is dormant and will not be required to lodge. However, the company must notify the ATO that it is not required to lodge to avoid penalties.
Does My Company Need Financial Statements?
The Corporations Act requires small proprietary companies to “keep sufficient financial records to record and explain their transactions” but does not require the actual preparation of the reports. The Income Tax Assessment Act requires companies to prepare financial statements if they are electing to use certain tax provisions that most companies will probably never actually utilise.
So the answer is no… in most circumstances, a small company will not required by law to produce financial statements.
B Tax (UNSW) FTI
I’m here to help you with your personal and your business taxes. I’ve got expertise, and experience and I’m always available to help.
When you take into account the multi-part questions in a company tax return, there are over 180 questions to answer. If you get one wrong, you’ve committed a crime. Even though less than 30% of individuals file their own personal tax returns, the number of directors filing their own company tax returns is far less.
The ATO have stiff penalties for directors that file incorrect company tax returns and it is generally considered prudent to seek professional assistance.